UNCTAD wants “global discourse” on technological change for development

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UNITED NATIONS: UN Deputy Secretary-General Amina Mohammed on Tuesday highlighted the importance of Sustainable Development Goal 10 on reducing the scourge inequality within and among countries.

Speaking at the UN General Assembly High-level Thematic Debate on Addressing Inequality Toward Inclusive Development, Mohammed said that high and rising inequality hindered sustained socio-economic growth and undermines equality of opportunities.

Within-country inequality remained a particular challenge, as the top 1 percent of earners across the globe captured twice as much of the growth in global income as the poorest 50 percent, she added.

Many countries have demonstrated that inequality can be curbed, with the right set of policies and institutions, said Mohammed, adding that key to this is the investments in building strong data ecosystems and capacities at the national level to ensure that no one is left behind.

“Investment in human capital can correct generations of injustice and inequality,” said the UN deputy chief.

According to Mohammed, the UN is supporting Member States to enhance sustainable financing strategies and investments at the regional and country levels to seize the potential of financial innovations, new technologies and digitalization to provide equitable access to finance.

She also called on international institutions and development partners to take actions to ensure that financial and other support benefits the most vulnerable developing countries.

The high level thematic debate took place at the UN headquarters in New York.

(With inputs from Xinhua)