UNGA graduates Bangladesh, Laos, Nepal from Least Developed Country category

The UN General Assembly on Wednesday, 24 November declared Bangladesh, Laos, and Nepal to have graduated from the least developed country (LDC) category on an exceptional basis, with a five-year preparatory period leading to graduation, Xinhua reported. In a resolution passed by the General Assembly, it was announced that the three nations will now cease to be the least developed as they plan ahead to combat the looming economic crisis from the COVID-19 pandemic, and look towards recovery by implementing appropriate policies and strategies. The United Nations Committee for Development Policy (CDP) had recommended for Nepal’s graduation from the Least Developed Country (LDC) category earlier in February. Due to the preparatory period, the countries will effectively graduate in 2026. The UNGA decided to change the status of the three countries after the CDP conducted a triennial review between 22 to 26 February 2021 and found that Nepal, Lao, and Bangladesh all qualified to be moved out of the LDC list as they each met the criteria for graduation for three consecutive reviews. The three indices that decide the graduation are GNI per capita, Human Assets Index (HAI), and Economic and Environmental Vulnerability Index (EVI), which the three nations successfully met. Government of Nepal 'requested' for preparatory period of three years The government of Nepal had requested for the preparatory period of three years to be extended to five according to The Permanent Mission of Nepal to the United Nations. While Nepal specifically met the graduation criteria for the first time in 2015, the CDP in the 2018 triennial review recommended deferring the graduation. This was due to the setback on Nepal’s economy by the 2015 earthquake and other disasters in consecutive years. “CDP’s recommendation is an important milestone in Nepal’s development trajectory towards the national ambition of ‘Prosperous Nepal, Happy Nepali’ and the nation’s development aspirations as reflected in the Fifteenth Periodic Plan,” Permanent Mission of Nepal to UN had stated.

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UNGA graduates Bangladesh, Laos, Nepal from Least Developed Country category

UNGA decided to change the status of three countries after the CDP conducted a triennial review between 22 to 26 February 2021 & found they met the criteria.

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