UNCTAD Least Developed Countries Report

On Friday 26 November, the United Nations Conference on Trade and Development (UNCTAD) launched its Least Developed Countries Report 2010, subtitled ‘Towards a new
international development architecture for LDCs’. The report argues that the world’s
49 Least Developed Countries (LDCs) need ‘‘more and better-designed financing — rising from an estimated $4 billion to $17 billion per annum by 2030 — to cope with the difficulties posed by climate change. The report calls for ‘‘a new international architecture to support LDCs”, which would establish international funds for
infrastructure, green development, climate change mitigation, productive capacities
and financing innovation for LDCs. Climate change is a particularly crucial issue for
LDCs, as the report notes that it has been estimated that ‘‘for every 1˚C rise in
average global temperatures, annual average growth in poor countries could drop by 2–3
percentage points, with no change in the growth performance of rich countries”. The
report is intended to inform debate at the Fourth United Nations Conference on Least Developed Countries, which will be held in May next year in Istanbul. http://tinyurl.com/24mfsb9