Dhaka,   Wednesday 16 October 2024

Dhaka seeks UN support to combat illicit financial flows

UNB

Published: 10:05, 16 October 2024

Dhaka seeks UN support to combat illicit financial flows

Foreign Secretary Md Jashim Uddin has recently had a series of meetings with top UN officials and highlighted the interim government's priority of recovering stolen assets, calling for the UN’s cooperation in addressing tax evasion and combating illicit financial flows.

Regarding Bangladesh’s upcoming graduation from LDC status, the foreign secretary stressed the need for continued international support during both the transition and post-graduation phases.

Acknowledging the challenges in achieving the Sustainable Development Goals (SDGs) due to the global economic downturn triggered by the Covid-19 pandemic and ongoing global conflicts, he sought stronger support from the UN System, including through development cooperation facilitated by the Resident Coordinator’s Office.

He also expressed appreciation that the Department of Economic and Social Affairs (DESA) will serve as the implementing body for the recent Bangladesh-led UN General Assembly resolution declaring May 6 as Rural Development Day.

The foreign secretary met with UN Under-Secretary-General for Economic and Social Affairs Li Junhua at the UN Headquarters in New York on Monday.

During the discussion, he briefed the UN official on the ongoing reform process in Bangladesh currently being undertaken by the interim government, reflecting the aspirations of the July uprising.

Jashim emphasized the importance of the UN’s technical and policy support in advancing the government’s reform agenda, particularly in enhancing accountability and transparency, building on the five decades of partnership between the UN and Bangladesh, according to the Ministry of Foreign Affairs.

USG Li appreciated Bangladesh’s current chairmanship in the Second Committee of the UN General Assembly and assured Dhaka of all-out support from the Secretariat.

He told the foreign secretary that DESA would be happy to assist Bangladesh in the reform process, especially through their tools for public institution capacity building and digital governance.

He stated that the LDC graduation should indeed be considered a new starting point, and the graduated countries should continue to benefit from preferential arrangements.

Concerning SDG implementation, he underscored the importance of the upcoming Fourth International Conference to be held in 2025 in Spain; during which efforts will be made to reinvigorate the global development assistance, including through innovative financing, ensuring debt sustainability and the reform of international financial institutions.

The foreign secretary also met Selwin Charles Hart, the UN secretary general’s special adviser on climate action and just transition.

During the meeting, the foreign secretary reiterated Bangladesh’s call for the full implementation of the Paris Agreement, including ensuring adequate climate finance as promised.

Underscoring that Bangladesh is one of the most climate-vulnerable countries, he also stated that internal displacement due to sea level rise and other climate change-related disasters remains a great existential risk for many countries.

He also said the chief adviser is a global champion of zero carbon emission as part of his “three zeros.”

Saying that Bangladesh’s National Adaptation Plan will require $230 billion by 2050, he also underscored that climate financing for adaptation remains underfunded, and there is also a limit to adaptation measures. He sought the UN’s continued support for Bangladesh in addressing the adverse effects of climate change.

Hart appreciated Bangladesh’s long-standing leadership role in global climate discourse.

He hoped for the highest-level participation from Bangladesh at the upcoming COP29. He also emphasized creating country platforms for addressing adaptation and resilience-building needs.

Jashim also held a courtesy meeting with Rabab Fatima, the UN's high representative for LDCs, LLDCs and SIDS.

The discussions focused on the UN’s support of the reform agenda, LDC graduation and the UN’s support during the transition and post-transition phases, and increased representation of Bangladeshi nationals in the UN at the policy level.

Meanwhile, the UN under-secretary-general congratulated the foreign secretary on the new role and discussed the Doha Programme of Action (DPoA) implementation, Bangladesh’s path to LDC graduation and its crucial role as an LLDC transit country.

"I assured him of UNOHRLLS’ full support of Bangladesh’s smooth transition strategy.”

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