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KATHMANDU, June 25: “Graduation is not an endpoint—it is a beginning,” said UN Resident Coordinator Hanaa Singer-Hamdy, calling on the global community to ensure that countries like Nepal are not penalised for their development gains as they transition out of Least Developed Country (LDC) status.
Speaking at a national consultation in Kathmandu on Tuesday ahead of the Fourth International Conference on Financing for Development (FfD4), Singer-Hamdy warned that while Nepal’s upcoming graduation is a proud milestone, it remains a vulnerable one.
“Nepal may be graduating, but our structural vulnerabilities remain. We are still highly exposed to climate risks. Our economy remains dependent on remittances. And our infrastructure and industrial base are still catching up with our ambitions,” she said.
Singer-Hamdy stressed that the Compromiso de Sevilla—the expected outcome document of the FfD4—must offer more than symbolic support. “It is a blueprint for a financing system that works for all—especially those in transition,” she said, urging that international support continue even after the “LDC” label is lifted.
The consultation, attended by Prime Minister KP Sharma Oli and Finance Minister Bishnu Prasad Paudel, focused on shaping Nepal’s stance for the global summit. Since 2023, Nepal has actively engaged in the FfD4 preparatory process, submitting inputs, hosting national roundtables and advocating for a smooth, sequenced transition that retains trade preferences, concessional loans, and technical assistance.
Highlighting Nepal’s domestic reforms, Singer-Hamdy noted the country’s progress in securing a sovereign credit rating, passing investment-friendly laws and preparing to issue green bonds. “But plans on paper are not enough,” she cautioned. “Policies need purpose. Laws need leaders. Strategies need follow-through.”
She also called for greater domestic efforts—mobilising resources, building shock-resilient institutions, and using better data for smarter policymaking. Above all, she emphasised unity of purpose across ministries, parliament, civil society and development partners: “This is not just a national transition. It is a symbol of possibility for other LDCs.”
Amid global economic uncertainty, geopolitical rifts and climate threats, the upcoming FfD4 summit is being seen as a test of international solidarity. “Multilateralism is not dying—it is transforming,” Singer-Hamdy said. “And we must be the architects of its renewal.”
Edited Version of Her Speech:
“Sano, meetho, shanta, sugandhi, anupam … bas!
Mero nimitta tya-hi ho Nepal.”
With these lyrical words, the great poet Laxmi Prasad Devkota captured not just the beauty of Nepal, but its soul. A land small in size, yet vast in spirit. Gentle, fragrant, incomparable—yes, that is Nepal.
And I have witnessed that spirit firsthand—in over 50 districts, across mountains and plains, in the stories of farmers and students, mothers and mayors. I have seen a nation that does not wait for change but walks toward it—with resilience, pride, and quiet determination.
Today, we gather at a pivotal moment in that journey.
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The world around us is in flux. War, fragmentation, climate disasters, global inequality, economic shocks—they have tested the limits of international cooperation. And yet, they have not broken multilateralism. They have reshaped it. They have demanded that we evolve.
Multilateralism is not dying. It is transforming. And we must be the architects of its renewal.
The Compromiso de Sevilla, the outcome document of the Fourth International Conference on Financing for Development (FfD4), is a bold answer to that challenge. It offers a vision—a renewed global financing compact—one that reflects the urgency of now and the diversity of development paths.
It is a document written, in part, with countries like Nepal in mind.
As Nepal stands on the cusp of graduating from the Least Developed Country category, we are both proud and cautious. Graduation is not an endpoint. It is a beginning—a launchpad for greater ambition and deeper responsibility. But it is also a vulnerable transition.
The Compromiso recognizes this. It calls for sustained international support for graduating countries—support that does not disappear when the label of “LDC” is removed. It urges a smooth, sequenced transition—retaining trade preferences, concessional financing, and technical assistance. And it calls for an equitable system where global rules do not punish progress.
Let us be clear: Nepal may be graduating, but our structural vulnerabilities remain.
We are still highly exposed to climate risks. Our economy remains dependent on remittances. Our infrastructure, employment generation, and domestic industrial base must grow to match our aspirations.
But here’s the good news: Nepal has not been a passive observer in this process. Under the leadership of the Ministry of Finance, and with support from the UN in Nepal, we have actively contributed to shaping this outcome.
Since 2023, we have brought together voices from across society—ministries, civil society, academia, youth groups, cooperatives, the private sector, and development partners.
We submitted Nepal’s joint input to the FfD4 element paper.
We convened roundtables on the draft Compromiso.
We elevated Nepal’s call for continued international support.
And those efforts made a difference.
Now, the real work begins. The future is in our hands.
We must:
Advocate for fair and inclusive trade rules that allow us to compete, not just survive.
Push for investment agreements that respect our development priorities.
Secure predictability in assistance—so that our graduation is not followed by a cliff.
Strengthen our ability to negotiate, implement, and comply with global norms.
Scale up innovative finance—from green bonds to climate-resilient debt clauses to debt-for-nature swaps.
And above all, we must invest in ourselves:
Mobilize more domestic resources.
Improve data systems to guide smarter decisions.
Build public institutions that can manage shocks and deliver dignity.
Nepal is already taking steps:
We’ve passed key legislative reforms to attract investment.
We’ve secured a sovereign credit rating—an essential milestone.
We’re introducing new tools like green bonds and infrastructure finance.
We are developing an Integrated National Financing Framework—so that planning, budgeting, and external support work in harmony.
But let’s be honest: plans on paper are not enough. Policies need purpose. Laws need leaders. Strategies need follow-through.
So I call on each one of you—across ministries, in parliament, from the private sector, civil society, and the international community—to not just support Nepal’s graduation, but to champion it.
Because this is not just a national transition. It is a symbol of possibility for other LDCs—especially those that are landlocked, climate-vulnerable, and small in scale but big in heart.
The FfD4 is not just another global meeting. And the Compromiso de Sevilla is not just ink on paper. It is a blueprint for a financing system that works for all—especially those in transition.
Let Nepal’s voice be bold. Let it be united. Let it be clear—not as a country left behind, but as a country forging ahead with resolve.
Nepal’s journey may have been long. But we are carving our future—with clarity, courage, and commitment.
Jai Nepal.
Dhanyabaad.
