Re-alignment of public and private financing critical for better
Permanent Representative of Bangladesh to the United Nations Ambassador Rabab Fatima has said re-aligning of public and private financing is needed for creation of better jobs, especially for people in vulnerable situations.
She was chairing a panel discussion on Thursday jointly organized by the International Labour Organization (ILO) and the United Nations Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States (UN-OHRLLS) on the theme “Leaving no one behind and building back better from COVID-19: The Future of Work in LDCs”.
The panelists discussed about the devastating impact of the ongoing COVID-19 pandemic on globalization and climate change and their cumulative effects on the job market. They also stressed on the vital importance of financing for development, closing digital divide, FDI inflow, and capacity development for creation of more decent jobs in the LDCs.
Ambassador Fatima highlighted the importance of pursuing a job-rich approach, backed by stronger employment policies and institutions, better-resourced and comprehensive social protection systems for preventing poverty, under-consumption and hunger around the world.
She said that for unlocking the untapped potentials of global value chains for enhancing trade and investment, capacity buildings in the LDCs is highly essential. And this could be done by taking advantage of evolving digital economy.
In this context, she echoed the importance of leveraging STI, 4IR, reducing digital divides for expanding education and skills enhancement. She also urged for greater international support for migrant workers to cope up with COVID-19 job market and beyond.
The meeting was participated by among other, Ambassador Alya Ahmed Saif Al-Thani, Permanent Representative of Qatar to the United Nations and Representative of the host country of the LDC 5 Conference; Ambasador Perks Ligoya, Permanent Representative of Malawi to the United Nations and Chair of the LDC Group; Ms. Fekitamoeloa Katoa ‘Utoikamanu, High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States; and Moussa Oumarou, Deputy Director General for Field Operations and Partnerships.
Ambassador Fatima wrapped up the panel discussion by urging the global community for ensuring better and decent jobs for everyone in the coming days.