PM Oli Calls for Fairer Global Financing and Justice for LDCs at FFD4 Summit in Spain

Kathmandu: Addressing the Fourth International Conference on Financing for Development (FfD4) in Seville, Spain, Prime Minister KP Sharma Oli made a strong call for justice and fairness in the global economic system. He urged world leaders to deliver on longstanding promises to the Least Developed Countries (LDCs).

PM Oli delivered a powerful statement – as Chair of the LDC Group and as Prime Minister of Nepal – that underscored the growing inequalities in the global economy and the urgent need for reform. Reflecting on the progress made since the Addis Ababa Action Agenda in 2015, he noted that while the global GDP has surged from $75 trillion to $115 trillion over the past decade, inequality — both within and between countries — has also grown alarmingly.

“At the very moment when solidarity is most needed, Official Development Assistance is shrinking. Debt is suffocating the South,” PM Oli said, pointing out that debt burdens for LDCs have tripled in the last decade alone.

Moreover, he criticized the widening technological and digital divide, poor infrastructure, and limited investment in LDCs, all of which are hindering sustainable development and leaving millions behind. He emphasized that despite contributing less than 1 percent of global greenhouse gas emissions, LDCs bear the brunt of climate change impacts.

In this context, PM Oli highlighted the adoption of the Sevilla Commitment as a turning point. Describing it as a “chance to change the course,” he called for the full and faithful implementation of the new global financing framework, which aims to accelerate progress toward achieving the 2030 Agenda for Sustainable Development.

The Prime Minister further reiterated the LDCs’ call for structural reforms in the global financial architecture and demanded the fulfillment of the long-standing commitment of 0.7 percent of Gross National Income (GNI) as ODA (Official Development Assistance) to developing countries, with at least 0.2 percent dedicated to LDCs. He also pushed for a UN-led global tax convention, greater access to concessional and predictable climate finance, and a fairer trading system that enables value-chain participation and prosperity for all.

“We stand for partnerships built on solidarity. We stand for vibrant private sectors connecting the Global North and South, and for sensible investments in people and the planet,” PM Oli said.

He also took a moment to reflect on Nepal’s own development journey, reaffirming the country’s readiness to graduate from LDC status in 2026, while noting the need for continued international support to sustain the momentum. “Our determination remains firm, but we need robust support from our development partners to realize our development aspirations,” he added.

Nepal played a key role in shaping the Sevilla Commitment, serving as one of its co-facilitators alongside Norway, Zambia, and Mexico. Oli extended gratitude to all member states for their trust and collaboration.

Concluding his address, Prime Minister Oli expressed optimism that the commitments made in Seville would rekindle global hope: “Hope for a fairer global governance system that respects all voices, hope for partnerships grounded in solidarity, and hope for a better world where no country is left behind.”