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UNGA adopts resolution to graduate Bangladesh from LDC
Tribune Desk
The UN General Assembly has adopted resolution A/76/L.6/Rev.1, Graduation of Bangladesh, the Lao People’s Democratic Republic and Nepal from the least developed country category UN
Bangladesh given five years to prepare for graduation
In a historic move, the United Nations General Assembly (UNGA) has adopted a resolution to graduate Bangladesh and two other countries from the Least Developed Country (LDC) category.
The UN on Wednesday also gave the countries five years, instead of three, to prepare for the graduation to a developing country. Hence, the decision will come into effect on November 24, 2026.
The two other countries that got clearance for the graduation are Nepal and the Lao People’s Democratic Republic.
Also Read - BBS: GDP growth at current prices 17% in last 6 years
In a statement, the UN said: “The three countries will graduate from the LDC category after an exceptionally extended preparatory period of five years (the standard period is of three years) to enable them to prepare for graduation while planning for a post-Covid-19 recovery and implementing policies and strategies to reverse the economic and social damage incurred by the Covid-19 shock.”
Currently, there are 46 countries on the LDC list, according to the UN Committee for Development Policy (CDP). Of them, seven countries including Bangladesh and Bhutan are graduating from the LDC.
Also Read - LDC graduation: New opportunities, new challenges
The committee earlier recommended Bangladesh’s graduation from the list of the LDCs after a second round of review on February 26 this year.
"What better way to celebrate 50th anniversary of our independence and birth centenary of Bangabandhu! Fulfillment of national aspiration and Prime Minister's vision 2021," Bangladesh's Permanent Representative to the UN Rabab Fatima tweeted on Wednesday.
Before recommending Bangladesh’s graduation, the CDP in March 2018 declared Bangladesh’s eligibility for graduation from the list of LDCs as it had fulfilled the requirements in all three criteria to be considered a developing country.
According to the UN, per capita income of $1,230 is one of the requirements for transitioning into a developing nation. Bangladesh’s per capita income currently stands at $2,554.
Moreover, to make the cut, the Economic Vulnerability Index (EVI) must be below 32 points while Bangladesh’s score was 27.3 points and its score in the Human Assets Index (HAI) was 75.3 against a threshold of 66 as of February this year.
Tribune Desk
- Published at 04:08 am November 25th, 2021
The UN General Assembly has adopted resolution A/76/L.6/Rev.1, Graduation of Bangladesh, the Lao People’s Democratic Republic and Nepal from the least developed country category UN
Bangladesh given five years to prepare for graduation
In a historic move, the United Nations General Assembly (UNGA) has adopted a resolution to graduate Bangladesh and two other countries from the Least Developed Country (LDC) category.
The UN on Wednesday also gave the countries five years, instead of three, to prepare for the graduation to a developing country. Hence, the decision will come into effect on November 24, 2026.
The two other countries that got clearance for the graduation are Nepal and the Lao People’s Democratic Republic.
Also Read - BBS: GDP growth at current prices 17% in last 6 years
In a statement, the UN said: “The three countries will graduate from the LDC category after an exceptionally extended preparatory period of five years (the standard period is of three years) to enable them to prepare for graduation while planning for a post-Covid-19 recovery and implementing policies and strategies to reverse the economic and social damage incurred by the Covid-19 shock.”
Currently, there are 46 countries on the LDC list, according to the UN Committee for Development Policy (CDP). Of them, seven countries including Bangladesh and Bhutan are graduating from the LDC.
Also Read - LDC graduation: New opportunities, new challenges
The committee earlier recommended Bangladesh’s graduation from the list of the LDCs after a second round of review on February 26 this year.
"What better way to celebrate 50th anniversary of our independence and birth centenary of Bangabandhu! Fulfillment of national aspiration and Prime Minister's vision 2021," Bangladesh's Permanent Representative to the UN Rabab Fatima tweeted on Wednesday.
Before recommending Bangladesh’s graduation, the CDP in March 2018 declared Bangladesh’s eligibility for graduation from the list of LDCs as it had fulfilled the requirements in all three criteria to be considered a developing country.
According to the UN, per capita income of $1,230 is one of the requirements for transitioning into a developing nation. Bangladesh’s per capita income currently stands at $2,554.
Moreover, to make the cut, the Economic Vulnerability Index (EVI) must be below 32 points while Bangladesh’s score was 27.3 points and its score in the Human Assets Index (HAI) was 75.3 against a threshold of 66 as of February this year.
