UNCTAD and its partners are building the capacity of over 60 officials from 20 least developed countries (LDCs) in investment facilitation and promotion for greater sustainable development impact.
The officials are drawn from Bangladesh, Chad, Djibouti, Ethiopia, Gambia, Haiti, Kiribati, Lesotho, Liberia, Madagascar, Malawi, Mozambique, Rwanda, Sao Tomé and Principe, Somalia, South Sudan, Timor Leste, Togo, Tuvalu, and Uganda. They commenced the four-month online training program on 20 September.
Despite growth in sustainable finance, investment flows are concentrated in developed and emerging economies, bypassing LDCs. Developing countries received $372 billion in Sustainable Development Goals (SDGs) investment in 2021, with LDCs getting only 15% of it, a decline from 19% in 2020.
“We at UNCTAD believe that we have a window of opportunity now to attract new, transformative investment towards LDCs. This program aims to improve the institutional capacity of LDCs to attract investment in SDG-related sectors,” UNCTAD Secretary-General Rebeca Grynspan said.
Building capacity to increase SDG projects
The program will build the capacity of investment promotion agencies in LDCs to target and facilitate SDG-related projects through the creation of an “Executive IPA College” hosted on a digital platform of the International Training Centre of the International Labour Organization (ILO).
Under the program, UNCTAD has produced pedagogical videos on key topics related to promoting and facilitating investment in SDG-related sectors including food security, health, and the digitalization of investment promotion.
UNCTAD is implementing the program in partnership with the UN Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States, ILO, the United Nations Industrial Development Organization, and the World Association of Investment Promotion Agencies.