Seville, Spain - July 2, 2025
As Nepal prepares to graduate from the category of Least Developed Countries (LDCs) by 2026, the President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, has called for robust global partnerships and climate-smart financial support to ensure a resilient and sustainable transition.
Speaking at a high-level session titled “Resilience for Empowerment: Climate-Smart Financing for Sustainable LDC Graduation” at the FIBES Sevilla Exhibition and Conference Centre in Spain, President Dhakal emphasized that while LDC graduation represents a significant national milestone, it also brings with it serious challenges—particularly for climate-vulnerable nations like Nepal.
“Nepal has fulfilled two of the three criteria for graduation, but we remain highly vulnerable due to low per capita income and the growing impacts of climate change,” said Dhakal, addressing an audience of global policymakers, development partners, private sector leaders, and climate experts.
He highlighted Nepal’s urgent financial needs to address climate adaptation, stating that the country requires approximately USD 47 billion by 2050, or about USD 1.3 billion annually, to meet the targets laid out in its National Adaptation Plan. Additionally, he noted Nepal faces an annual financial gap equivalent to 11% of GDP to meet its Sustainable Development Goals (SDGs).
“LDC graduation should not signal the end of international support, but rather mark the beginning of a new era of cooperation,” Dhakal asserted. “Countries like Nepal need continued support to build economic resilience, invest in clean and renewable energy, and mitigate the growing risks of climate-induced disasters.”
He also expressed FNCCI’s commitment to collaboration, stating that Nepal’s private sector stands ready to partner with the global community to advance inclusive and climate-resilient development.
The conference brought together key stakeholders to explore financing mechanisms and policy solutions to strengthen climate resilience and ensure sustainable development pathways for LDCs as they transition toward middle-income status.
