The UN General Assembly (UNGA) on November 24, 2021 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.
Criteria for graduation from LDC
- Earlier, in February 2021 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
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