UN recommends BD’s graduation from LDC status
The United Nations Committee for Development Policy (UNCDP) has recommended Bangladesh's graduation from Least Developed Country (LDC) status for fulfilling its all three eligibility criteria for the second time.
UNCDP has also recommended that Bangladesh will get five years, till 2026, to prepare for the transition to a developing country instead of three years.
Taffere Tesfachew, chair
of the CDP subgroup on LDCs, revealed the decision
of recommendation at a briefing on Friday night after the second triennial review
of the UNCDP's LDC category. However, the five-day review meeting was held on February 22-26.
Meanwhile, Prime Minister Sheikh Hasina on Saturday said getting the final recommendation for Bangladesh's transition to a developing country -- from least-developed country status -- is a historic event.
The PM said this while briefing the media virtually about the UN recommendation for graduating from LDC status.
All three eligibility criteria for graduation from LDC status involve per capita income, human assets, and economic and environmental vulnerability.
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) criterion, the country's score stands at 75.3 points, well above the requirement of 66.
In the Economic Vulnerability Index (EVI), a country's score has to be less than 32. Bangladesh's score is 27.3 points.
As per rule, the recommendation proposal will be sent to the United Nations Economic and Social Council (ECOSOC) for endorsement which is scheduled to sit in June. However, the UN General Assembly is scheduled to approve the proposal in September this year.
"In view of the impact of the Covid-19 pandemic on the economy, the CDP recommended that Bangladesh and two other countries will get five years, till 2026, to prepare for the transition to developing country instead of three years," UNCDP said.
Myanmar and Lao PDR also met the graduation criteria for the second consecutive time.
The UN CDP, however, deferred the decision on Myanmar and Timore-Leste to the 2024 triennial review. Nepal met the criteria in 2018.
The UN panel deferred recommending Myanmar for graduation due to concerns on negative impacts of the state of emergency declared by the military on the country's development trajectory and graduation preparation.
For the first time, no country was found eligible for inclusion in 2021.