Bangladesh now developing country: UN

DHAKA: The United Nations has recognized Bangladesh as developing country, after graduating from ‘Least Developed Country’ bloc, says State Minister for Foreign Affairs Shahriar Alam. 

The UN says Bangladesh has fulfilled the eligibility requirements to graduate from LDC, as it has met all the three criteria for the first time for getting out of the LDC bloc.

The three criteria include: Gross National Income (GNI) per capita, Human Assets Index (HAI) and Economic Vulnerability Index (EVI).

The Committee for Development Policy (CDP), a UN panel, made the announcement on Friday night (March 16) at a meeting at the UN headquarters in New York.

The CDP will confirm the matter through sending a confirmation letter on Saturday (March 17). 

The UN gave LDC status to 17 countries in 1971. Now, the total number of LDCs is 47.

Bangladesh has been on the UN Least Developed Countries (LDC) list since 1975.

The UN reviews the list of LDC every three years and makes recommendations on the inclusion and graduation of eligible countries. The UN did the review the last time in 2015 when three countries, including Nepal and Bhutan, became eligible for graduation from the LDC bloc.

Bangladesh's graduation will have some implications for its economy. The GNI per capita of a country has to be $1,230 or above. Bangladesh's GNI per capita is now $1,272.

BDST: 1336 HRS, MAR 17, 2018

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