644Published on November 25, 2021
The United Nations General Assembly (UNGA) has adopted a resolution to graduate Bangladesh from the least developed country (LDC) category.
The decision was taken at the 40th plenary meeting of 76th UNGA on Wednesday (BDsT).
Bangladesh will graduate from the LDC category after an exceptionally extended preparatory period of five years (the standard period is of three years) to enable the country 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, said a release on the UN website.
The UN General Assembly also adopted a resolution for LDC graduation of the Lao People's Democratic Republic and Nepal at the same meeting.
In a tweet, Bangladesh's Permanent Representative to the UN Rabab Fatima said, "UNGA adopts historic resolution to graduate Bangladesh from the LDC category. What better way to celebrate 50th anniversary of our independence & birth centenary of Bangabandhu! Fulfillment of national aspiration & HPM's vision 2021! Joy Bangla."
Finance Minister AHM Mustafa Kamal, in a statement, termed this historic achievement as a great milestone in the journey of Bangladesh's development.
Earlier, the United Nations Committee for Development Policy (CDP) recommended for Bangladesh's graduation from LDCs after the country fulfilled all three criteria of eligibility for LDC graduation (e.g., Per capita GNI, Human Assets Index and Economic Vulnerability Index) for the second time in 2021.
In the meeting, they recommended that Bangladesh can graduate from LDCs in line with General Assembly resolutions 59/209 and 67/221.
Bangladesh had been recommended for LDC graduation back in 2018 by the CDP.