Kathmandu: Gyan Bahadur Magar, Deputy Permanent Representative of Nepal, attended the 2nd Substantive Session of the Ad Hoc Working Group on Smooth Transition. On behalf of the LDC Group, he emphasized that the updated General Assembly resolution on smooth transition should ensure a fundamental principle that no graduating LDC should face disruption or reversal of its development trajectory.
He further underscored the strengthening iGRAD arrangements as a strong institutional pillar of support for graduating and graduated countries; allowing adequate preparatory period for smooth transition depending on specific domestic circumstances and external shocks; reinforcing the incentives-based approach, ensuring concessional and climate finance, preferential market access, technology transfer, and capacity-building support beyond graduation; and integrating Graduation Readiness Assessment and Enhanced Monitoring Mechanism into smooth transition strategies to ensure smooth, sustainable and irreversible graduation.
