There are currently 46 LDCs listed by the UN and countries graduate once they have achieved certain development goals.
Eric Overvest: São Tomé and Príncipe performs well on social indicators such as GDP per capita, but lags behind on others such as GDP Economic Vulnerability Indexand here the UN offers much support, because it is the health of the economy that will allow the country to leave its LDC status.
For example, we’ve helped the country market itself as a place that sells quality organic produce. So instead of just exporting cocoa beans, they export candy bars. Organic palm oil, coconut oil and vanilla pepper are also sold.
Finding resources to adapt to the climate crisis is also very important and we have supported government efforts to find more funding for biodiversity protection and marine resource conservation. This country is moving towards the use of renewable energy; the UN supported the country’s first solar farm, which opened last year, and solar panels are being placed on schools and health centers.
We also help with private sector development; Promote eco-tourism integrated into the country’s culture and history and support small and medium-sized enterprises.
UN News: What challenges could Sao Tome hold back even after graduation and how does the UN intend to deal with them?
Eric Overvest: I would say it’s a mindset shift from the idea of being dependent on foreign aid to a model where you generate the resources for your own economy and make sure you have the sources of growth to sustain your social protection system, social sectors, and to ensure that your country can accelerate the realization of the United Nations Sustainable Development Goals.
In São Tomé and Príncipe, WFP is supporting some families displaced by climate change
It’s about taking on your development challenges and looking ahead and what we can do as a country to move forward. So it’s putting a lot of pressure on the country to make sure they’re ready to graduate.
Linked to this is the migration challenge. Many are still looking for opportunities abroad, but the human resources needed to support the development process are needed in the country.
A particular challenge for São Tomé and Príncipe and other small island developing States is the islands’ vulnerability to the climate crisis, as we have experienced floods, hurricanes and storms that can be very disruptive to the economy. In December 2021, around seven percent of GDP was lost to damage from heavy rain.
A mother helps her son with his homework at home in São Tomé and Príncipe.
UN News: What advice would you give to the leaders of the least developed countries to help them achieve economic development and poverty reduction?
Eric Overvest: Invest more in the economy and growth industries where you can have competitive advantage, add value and create more jobs.
You must analyze your weaknesses and strengths and use them to develop a national development plan. And that requires commitment at the highest level, political commitment to invest in those sectors of the economy where you really see the future growth of the country.
I saw it here in São Tomé and Príncipe. There is a real shift towards greater private sector involvement and agriculture that is not based solely on the export of commodities. LDCs need to find their niche and develop it for future growth.
Eric Overvest is the UN Resident Coordinator in Sao Tome and Principe. He spoke to UN News below LDC5a major UN conference taking place on March 5-9, 2023 in Doha, Qatar.
