By TRN Online, Kathmandu, May 29: Prime Minister KP Sharma Oli has urged the international community including the UN for the need to design an inclusive global economic order so that landlocked and least developed countries (LLDCs) like Nepal, which are hardest hit by the COVID-19 pandemic, can respond, recover, and rebuild together with other countries.

PM Oli said so while addressing a United Nations level Virtual High-Level Event on Financing for Development in the Era of COVID-19 and Beyond held on Friday.

The dialogue was organized by Secretary General of the United Nations, Antonio Guterres and Prime Ministers of Canada and Jamaica.

"We are meeting at a time when COVID-19 has been posing serious threat to the humanity," said the PM, "We want to see the United Nations and its specialized agency WHO leading a robust global response to the crisis."

As in other adverse situations, the severest brunt of this pandemic is upon the developing countries, especially the LDCs, LLDCs and SIDS, that confront with inadequate resources, limited social protection and under-developed health infrastructures, he said

PM Oli stressed on saving lives of the people was the topmost priority at this time of global health crisis.

This is a time to strengthen the multilateral institutions and processes, not to minimize or discredit their role. This is a time to consolidate our efforts, he viewed.

PM Oli welcomed and appreciated the initiatives taken by IMF and G20, but said, "they are not enough".

They should be complemented with the progress in all pillars of international support measures, such as, ODA, FDI, trade, debt relief, and development and transfer of technology, he argued.

He said that reorientation of economic policies and mobilization of internal resources was needed for creating sustainable socio-economic foundation.

Prime Minister Oli spoke against trade wars and opposed protectionism. "We must avoid trade wars and oppose protectionism. We must make international trade regime fair and just for collective prosperity."

He pointed at the need to design inclusive global economic order which will lift every economy of the world – poor or rich, small or big. "Present model of economic development must be overhauled," he said.

He highlighted on ensuring vaccine for COVID-19 affordable and universal when it is made.

"We must avoid collective amnesia and invest in social sector with strong social security measures for a better future," he said, "We must ensure that we respond, recover, and rebuild together; by ‘leaving no one behind’ but only the menace of the virus forever."