IDLO and the European Union are partnering to boost foreign direct investment in Least Developed Countries (LDCs) by providing advice and pro bono support to their governments and private sector entities as the Investment Support Programme for Least Developed Countries kicks off.
A financial contribution by the European Union - the world’s largest development donor - formalized in November 2019 and coupled with funding from the Kuwait Fund for Arab Economic Development, has enabled the Programme to become fully operational. Eligible parties are encouraged to apply for assistance.
The 47 LDCs are the world’s poorest countries and typically do not have the human and financial resources to participate effectively in investment-related negotiations and disputes in order to secure the most favorable results for their economies and people.
They can, however, benefit substantially from responsible and well-managed foreign direct investment to generate income, jobs and technological upgrading to advance their economic growth and sustainable development. Well-negotiated and fair investment projects, contracts and agreements are in the long-term interest of all parties. This can be achieved through providing legal support and capacity development to LDC governments and under-resourced LDC firms.
The primary objective of the Programme is to ensure that LDCs derive maximum benefit from existing investment opportunities, increase sustainable investment flows and promote greater economic diversification.
Pilot projects have already been established in Myanmar and The Gambia, while six more applications for assistance are pending. Other LDC governments or private sector entities are invited to register.
The Programme was developed jointly by the United Nations Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States and IDLO.
More information about the assistance provided, eligibility, application process and current partners is available on the Programme’s online support portal in both English and French.
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