Cabinet has endorsed the country’s position for an extended transition and preparatory period to graduate from the Least Developed Country (LDC) status from 2024 to 2027.
This was announced by the Ministry of National Planning and Development Coordination.
“In 2018, Solomon Islands was recommended by the UN’s Committee for Development Policy (CDP) to graduate from LDC category status by 2024. This recommendation was based on Solomon Islands having met two out of three LDC graduation criteria on two consecutive triennial assessments.
“These were the Gross National Income (GNI) per Capita which measures income status and the overall level of resources available to a country, and Human Asset Index (HAI) which measures health and education outcomes.
“The criteria that Solomon Islands did not met was the Economic and Environmental Vulnerability Index (EVI) which measures factors like remoteness, dependence on narrow economic base and vulnerability to natural disasters,” MNPDC said.
However, MNPDC said a UN Joint technical mission assessment conducted in January 2023 concluded that Solomon Islands remains above the graduation thresholds even with the negative macroeconomic, socio-economic, socio-political and environmental impacts of the multiple crises directly related to the LDC Graduation criteria indicators.
“The country is not ready for graduation in 2024, as it has lost three critical years that were intended for wide and inclusive consultations on graduation and preparing a national Smooth Transition Strategy as well as to embark on initiatives that will enable a sustainable graduation.
“These were due to the COVID-19 global Pandemic, the November 2021 civil unrest and by multiple crisis and two earthquakes between 2020 and 2022.
“Solomon Islands Government has taken initial steps to prepare a smooth transition strategy in 2019 with support from UNDP but the work was disrupted by the aforementioned unforeseeable crisis.
“Climate Change on the other hand, remains the single greatest threat to development and security for Solomon Islands,” it explained.
Therefore, MNPDC said the Cabinet recommended that it is necessary for Solomon Islands to recalibrate a smooth transition strategy that will be fit for purpose, responds to a changing development context and addresses vulnerabilities and threats that arise from domestic and external shocks.
It said Solomon Islands Government remains committed to its vision to graduate Solomon Islands from the LDC category, adding that it is important to ensure that the graduation is sustainable and irreversible.
“Regaining graduation momentum and accelerating preparations as we emerge from multiple shocks may be more difficult and need to consider the wider implications of the multiple crises, beyond graduation and supplementary graduation indicators.
“An extended transition timeframe will help us to properly recalibrate for ensuring a smooth transition and a sustainable and irreversible graduation,” the Cabinet paper stated.
MNPDC said it was mandated to lead the preparation of a smooth transition strategy for Solomon Islands.
It said the Cabinet has also direct all ministries and stakeholders to support the preparation of the national smooth transition strategy.
MNPDC said a high-level Solomon Islands Government delegation will solicit support for the country’s request for extension of its preparation period to graduation from LDC Status by 2027 at the 5th United Nations International Conference on LDC’s which will be held in Doha, Qatar this year from March 5 to 10.
It said over the five days, world leaders will gather with private sector, civil society, parliamentarians and youth to discuss and advance ideas and raise pledges of support, and to spur delivery of agreed commitments to help address LDC specific challenges and Solomon Islands will also use the opportunity.
MNPDC Minister, Rexon Ramofafia and the Minister of Foreign Affairs and External Trade, Jeremiah Manele, are leading the government delegation to this conference. The delegation left the country on Wednesday.
