Press Release

Nov 30, 2011

As a Chair of the Least Developed Countries in New York, His Excellency Gyan Chandra Acharya, Permanent Representative of Nepal to the United Nations in New York moderated the side event on "Aid and Development Effectiveness in the Least Developed Countries for the Implementation of the Istanbul Programme of Actions", while the Hon. Minister of Finance delivered a Keynote speech at the forum. In his speech the Hon. Minister underscored the importance of development assistance in meeting the set targets of the Istanbul Programme of Actions. The Minister stressed on the requirements for the quality and quantity developmental assistance from the donor countries in order to fulfill the development needs of the LDCs. He also underscored the importance of aid harmonization, enhancing limited capabilities of the LDCs and building resilience against internal and external shocks. Referring to the current global economic situation, the Minister said that the current economic crisis in the western countries should not be an excuse not to fulfill the commitments. Highlighting the importance of institutional capacity, he said that the development partners need to enhance institutional and absorptive capacities, allow for necessary policy space and flexibility in the LDCs and eventually enable governments to take charge of full responsibility of their development process. The Nepalese delegation consists of HE Gyan Chandra Acharya, Permanent Representative of Nepal to the United Nations in New York, Hon. J.B. Mahara, Member of Constituent Assembly and Parliament, Mr. Krishna Hari Baskota, Secretary, Ministry of Finance, Mr. Lal Shankar Ghimire, Joint Secretary, Ministry of Finance, Mr. Rajaram Bartaula, Counsellor and Deputy Chief of Mission, Embassy of Nepal, Mr. Netra Timilsina, President, Federation of Nepalese Non-Governmental Organisations. On behalf of the developed countries, HE Mr. Andris Piebalgs, Development Commissioner of EU delivered keynote address. He emphasized that LDCs should set priority in development aid because of their challenges and committed to support implementation of Istanbul Programme of Action. Dr. Arjun Karki, International Coordinator of LDC Watch spoke on behalf of Civil Society. Embassy of Nepal Seoul, South Korea Date: November 30, 2011