Bangladesh has received the final recommendation of the United Nations to move from the list of least developed countries to developing countries. UN Committee for Development Policy (UN-CDP) Chair Tefari Tesfaso announced the decision on Friday (February 26th) night.

The announcement comes at the end of a five-day CDP three-year review meeting in New York. Prime Minister Sheikh Hasina is coming to the press conference today (February 26) at 4 pm to convey this good news to the people. This information has been given in a press release signed by the Press Secretary to the Prime Minister Ihsanul Karim.

Bangladesh, which has been in the least developed country Qatar since 1975, fulfilled all the conditions of CDP in 2018 to become a developing country. According to UN rules, if a country is able to meet the criteria for passing in two consecutive triennial reviews, it receives a final recommendation from the least developed country.

The triennial review meeting of the UN Committee for Development Policy began in New York on February 22. The final decision came late Friday night after a second round of review.

The CDP reviews migration from LDCs on the basis of three indicators. Bangladesh has come a long way in fulfilling the conditions in all the three indices. These are- (1) per capita income (2) human resource indicators (nutrition, health, mortality, school enrollment and education rates) and (3) economic fragility indicators (natural disasters, trade and economic shocks, population size and world market) Is based on eight factors including the distance of a country from).

The per capita income of a developing country is at least one thousand 230 US dollars, Bangladesh is much higher than the per capita income of Bangladesh in 2020; One thousand 726 dollars. Developing countries need 8 points in the human resource index; Bangladesh’s points are now 65.3.

If a country has more than 36 points in the economic fragility index, that country is included in the LDC, developing countries qualify after reaching 32. Bangladesh’s point there is now 25.2. According to CDP regulations, a country can enjoy a preparation period of three to five years after receiving a pass recommendation. Bangladesh also asked for five years for this. Now, after receiving the final recommendation of the passage, at the end of five years of preparation, the official passage will take place in the developing country of Bangladesh in 2026.

Bangladesh will lose cheap loans and various export facilities if it joins Qatar as a developing country. As a result, Bangladesh wanted those facilities in the preparation phase. At this time of preparation, Bangladesh will be able to enjoy all the benefits of being a least developed country. Moreover, under the current rules, Bangladesh will be able to enjoy duty-free access to the EU market for another three years after 2026, i.e. until 2029.

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