Mr. Vice-President,
Distinguished Delegates,

On behalf of the Group of 77 and China, we would like to thank Her Excellency, the President of ECOSOC and the Secretary-General for his report and we thank both for their leadership in these trying times. It goes without doubt that the LDCs are the most vulnerable and have seriously limitations in their ability to respond to this time in crisis.

The Secretary-General's report demonstrates the dire effects of the global financial and economic crisis on development prospects of the least developed countries.

The financial crisis together with the lingering effects of the food crisis has highlighted the vulnerability of LDCs to external shocks, which are completely beyond their control. We are especially concerned about the potential long-term impact of the crises if investment in education, health and infrastructure has to be cut back, which will dramatically increase poverty and reduce the productive capacities in LDCs.

It has never been more urgent, therefore, for development partners to deliver on their commitments and step up their support towards the implementation of the Brussels Programme of Action.

The macroeconomic reforms implemented by LDCs over the last decade in fulfillment of their commitments under the Brussels Programme of Action had contributed to their improved economic performance before the onset of the financial and economic crisis. Significant progress had been achieved in some sectors such as the provision of universal primary education. The crisis has shown that these achievements remain precarious. With the Brussels Programme nearing the end, the international community must strengthen its support to help the least developed countries consolidate the gains they have made and accelerate progress in areas where they are lagging behind as indicated by the Secretary-General's report.

The G-77 and China would like to reiterate the critical importance of the LDC-IV Conference, which is scheduled for 2011. The Conference will make a thorough review of the implementation of the Brussels Programme of Action and lay the ground for renewed partnerships for the sustainable development of the LDCs. In this respect, it is crucial to involve all stakeholders including parliaments, the private sector and civil society in the preparations for the Conference at the national, regional and global levels. We express our hope that the LDC-IV Conference will provide an opportunity to address the issues that are crucial for the sustainable development of LDCs and to make international policies and rules governing trade, investment, finance and environment coherent and conducive to national policies and strategies in LDCs. The LDC-IV Conference should put forward a new generation of international support measures, including South-South cooperation.

In this regard, the G-77 and China calls upon all Member States to give the Secretary-General the necessary support, including political and material support, to ensure a successful outcome to the Conference.

Thank you.