UN adopts resolution for Bangladesh graduation from LDC Category

UN adopts resolution for Bangladesh graduation from LDC Category

UN adopts resolution for Bangladesh graduation from LDC Category

By / World News / Thursday, 25 November 2021 04:24
The UN General Assembly (UNGA) on Wednesday adopted the resolution for the graduation of Bangladesh from the LDC Category. The resolution also included Nepal and the Lao Democratic Republic for the graduation from the LDC category. The resolution provides the three countries a five year preparatory period leading to graduation on an exceptional basis. During the discussion on the resolution, the Bangladesh representative to the UN emphasised that graduation is not a punishment but a reward. Highlighting the potential impact of loss of support measures for graduating countries, she called for an incentive-based structure with monitoring that is responsive to crises. Later in a tweet, the permanent representative of Bangladesh to UN Rabab Fatima called it a historic resolution. She said that there could be no better way to celebrate the 50th anniversary of the independence of Bangladesh and the birth centenary of Bangabandhu Sheikh Mujibur Rahman. Earlier, in February the United Nations Committee for Development Policy (CDP) had recommended the graduation of Bangladesh from the category of LDC as it fulfilled the eligibility criteria in terms of per capita income, human assets and economic and environmental vulnerability for the second consecutive time since 2018. A country must achieve at least two of the three criteria at two consecutive triennial reviews to be considered for graduation. A country needs to have a per capita GDP of over USD 1230 dollars for LDC graduation. Bangladesh qualified with a per capita GDP of USD 2064. On the Human Assets Index Bangladesh’s score stands at 75.4 against the requirement of 66. Bangladesh has a score of 27 on the Economic and Environmental Index which is required to be below 32 for the LDC graduation. Bangladesh will get time upto 2026 to prepare for the transition to the status of a developing country. Usually countries are given three years for transition but this year due to the Corona pandemic, Bangladesh has been given five years for the process.

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Hum Hindustani

Hum Hindustani

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