Less-Developed Countries (LDC)
Candlefocus EditorGenerally, LDCs have a gross national income per capita of less than USD $1,035, with severe structural impediments to growth, a high degree of economic vulnerability and a low level of human asset development. In 2021, a total of 46 countries met the CDP’s criteria, and have been identified as LDCs.
The ability of LDCs to address the challenges posed by their structural deficiencies is limited by the limited access to financial resources, technological skills and capital. For this reason, international support and assistance are essential for these countries to be able to develop. A number of initiatives, such as the establishment of special programmes for LDCs and the offering of technical assistance, have been created to help LDCs overcome the obstacles to sustainable development.
LDCs also benefit from additional preferential treatment from the World Trade Organization, the International Monetary Fund and even private investors, in order to level the playing field and increase their chances of success.
The lack of access to international markets, coupled with internal political and social instability, poverty, and infectious diseases, are all contributing factors to the continued challenge of achieving sustainable development in LDCs. Consequently, the CDP has found that the majority of LDCs have failed to meet some of the key targets set by the 2030 Agenda for Sustainable Development.
In order to ensure that LDCs are able to overcome the challenges of sustainable development and reap the full benefits of development assistance, the international community must continue to provide on-going aid and assistance. Furthermore, it is important that the initiatives that are currently in place are adequately funded and monitored, in order to ensure their effectiveness in helping the LDCs to develop and progress.