• Sunday, Dec 04, 2022
  • Last Update : 10:24 am

Bangladesh receives UN recommendation for graduating from LDC

  • Published at 05:25 am February 27th, 2021

The UN committee also made recommendations on the country's appeal to extend the final terminal period to 2026 from 2024

Bangladesh has received the final recommendation from a UN committee for graduating from the least developed country (LDC) status.

The UN Committee for Development Policy (CDP) made the final decision after the second round of reviews, recommending taking Bangladesh out from the list of the least developed countries.

Taffere Tesfachew, chair of the CDP subgroup on LDCs, revealed the decision of recommendation at a briefing on Friday night, reports BSS.

The five-day review meeting was held on February 22-26.

The UN committee also made recommendations on the country's appeal to extend the final terminal period to 2026 from 2024.

Bangladesh sought to avail the provision of the five-year period for preparations due to the Covid-19 pandemic and its negative impact on its socio-economic condition.

The country has met, for the second time, all the three eligibility criteria for LDC graduation involving income per capita, human assets, and economic and environmental vulnerability.

Bangladesh fulfilled all the criteria necessary for its elevation to a developing country in 2018. In line with the UN rules, a country will get recommended for graduation if it can fulfil the criteria in two triennial reviews in a row.

Also Read - Gearing up for sustainable LDC graduation

Bangladesh was well ahead in the gross national income (GNI) criterion: its per capita income was nearly $1,827 in 2020 against the threshold of $1,230.

In the Human Assets Index (HAI), the country's score stands at 75.3 points, well above the requirement score of 66.

In the Economic Vulnerability Index (EVI), score of a country has to be less than 32 while Bangladesh's score is 27.3 points.

Myanmar also met the graduation criteria for the second consecutive time. But, the UN committee, however, deferred the decision on Myanmar and Timore-Leste to the 2024 triennial review.

The UN panel deferred recommending Myanmar for graduation due to concerns on negative impacts of the state of emergency declared by the military on its development trajectory and graduation preparation.

The UN panel also deferred recommending Timore-Leste due to continued concerns about the sustainability of the country's development progress.

For the first time, no country was found eligible for inclusion in 2021.

After the recommendation by the UN committee for Bangladesh to become a developing nation, the proposal will be sent to the United Nations Economic and Social Council (Ecosoc) for endorsement in June.

The UN General Assembly is scheduled to approve the proposal in September this year.

Bangladesh has been on the UN list of LDCs since 1975.

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