Least Developed Countries Decry Multi-Donor Trust Fund

The Least Developed Countries (LDCs) are calling for adequately funding the Multi-Donor Trust Fund (MDTF) to enable them to face the impact of climate change. The current demand was made at the 66th Ministerial Session of the Economic and Social Commission for Asia and the Pacific (ESCAP) at the Songdo Convention Centre in Incheon, South Korea. The LDCs are also demanding adequate representation in the governing structures of multilateral institutions such as the IMF and the World Bank.

The LDCs (e.g., Bangladesh, Bhutan, Maldives and Nepal, among others) contend that the least developed countries, the landlocked developing countries and the small island developing states remain highly vulnerable to the external economic environment and climate change. Some LDCs endorsed the Copenhagen Accord, hoping that it would serve as a building block towards a legally binding agreement in COP 16 scheduled this year in Mexico City. LDCs hope that the COP 16 outcome in Cancun, Mexico will address the critical concerns of the least developing countries and will give adequate consideration to the Kyoto Protocol and the Bali Plan of Action. (The Daily Star, 5/17/10)