Dhaka, Saturday, 21 April 2018
Bangla Insider

Bangladesh graduates from LDC category: UN recognizes

National Desk
Published on : 17 March 2018, 01:10 PM
Bangladesh graduates from LDC category: UN recognizes

 

The United Nations (UN) has officially recommended the graduation of Bangladesh from the list of LDC category by fulfilling the three eligible criteria. UN says that Bangladesh has graduated from the Least Developed Country status to its present status for tremendous success in all sectors. Now the country may seek an official approval for the advance. That means, if the country`s economic progress continues for the next six years, Bangladesh will get the ultimate official recognition as a developing country in 2024.

Roland Mollerus, Chief, Secretariat of the Committee for Development Policy (CPD) handed over Permanent Representative of Bangladesh to the UN Ambassador Masud Bin Momen an official letter conveying this announcement at an event organized at the Bangabandhu Auditorium of Bangladesh Mission on Friday.

‘It’s a significant day for us. I am pleased to inform you that Bangladesh has fulfilled the criteria for graduation from the LDC category for the first time,’ said Masud Bin Momen.

The UN Committee for Development Policy (CDP) determines the graduation of a least developed country from the LDC category on the basis of its meeting at least two of the three criteria which are Per Capita GNI, Human Asset index (HAI) and Economic Vulnerability Index (EVI). Bangladesh has met all the three criteria in this year’s review conducted by the Committee Development Policy (CDP) of ECOSOC.

Per capita GNI (3 years’ average) of Bangladesh is USD 1272, and the threshold set by CDP for is this category is USD 1230. The HAI of Bangladesh is 72.9 whereas the threshold was 66. The EVI of Bangladesh is 24.8 whereas the threshold was 32.

The United Nations Committee for Development Policy, on completion of its review of the LDC category, announced that Bangladesh has met the graduation criteria for the first time.

Bangla Insider/ZRM/AD