There are currently 46 LDCs listed by the United Nations and by countries graduate when they have achieved certain development goals.
Eric Overvest: São Tomé and Príncipe are performing well on social indicators, such as GDP per capita, but lagging in others, such as Economic Vulnerability Indexand that is where the UN provides a lot of support because the health of the economy will allow the country to come out of the LDC status.
For example, we’re helping the country market as a place to sell premium, organic produce. So instead of just exporting cocoa beans, they are exporting chocolate bars. Organic palm oil, coconut oil and vanilla pepper are also on sale.
Finding resources to adapt to the climate crisis is also important, and we have been supporting government efforts to find more funding to protect biodiversity and conserve resources. sea. The country is moving towards the use of renewable energy; The United Nations has backed the country’s first solar park, which opened last year, and solar panels are being installed in schools and health centres.
We are also helping to develop the private sector; promote a form of ecotourism integrated into the culture and history of the country, while supporting small and medium enterprises.
United Nations News: What challenges could stand in the way of Sao Tome even after graduation, and how does the United Nations plan to address that?
Eric Overvest: I would say it’s a psychological shift, from the idea of being dependent on foreign aid, to a model where you’re generating resources for your own economy, making sure you have sources of growth to maintain its social protection system, to sustain the economy. social spheres and to ensure that your country can accelerate towards the achievement of the United Nations Sustainable development goals.
In São Tomé and Príncipe, WFP supports some families displaced by climate change
It’s about assuming your development challenges and looking ahead and seeing what we can do as a country to move forward. So it puts a lot of pressure on the country to make sure they are ready to graduate.
Linked to that is the migration challenge. Many are still looking for opportunities abroad, but the necessary human resources to support the development process are needed at home.
A particular challenge for São Tomé and Príncipe, as well as other Small Island Developing States, is the vulnerability of the islands to the climate crisis, because we have already seen floods. , hurricanes and storms can have a huge impact on the economy. In December 2021, about 7% of GDP was damaged by heavy rain.
A mother helps her son with his homework in São Tomé and Príncipe.
United Nations News: What advice would you give to the leaders of the least developed countries to help them achieve their goals of economic development and poverty reduction?
Eric Overvest: Invest more in the economy and growth areas where you have a competitive advantage, where you can add value and where you can create more jobs.
You need to analyze your weaknesses and strengths, from which to develop a national development plan. And that requires commitment at the highest level, political commitment to invest in areas of the economy where you actually see the future growth of the country.
I have seen it here in São Tomé and Príncipe. There is a real shift towards more private sector participation, and towards an agriculture based not solely on the export of raw materials. LDCs need to find their niche and develop it for future growth.
Eric Overvest is the UN Resident Coordinator at Sao Tome and Principe. He spoke to UN News at LDC5a major United Nations conference, to be held in Doha, Qatar from 5 to 9 March 2023.
