Bangladesh

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Kamal confident about success in 2nd review on LDC graduation

Govt appeals for two-year delay in graduation process 

Staff Correspondent | Published: 23:51, Jan 13,2021

 
 

Finance minister AHM Mustafa Kamal on Wednesday said that he was confident about the country’s success in the upcoming second review on its graduation from the least developed nations’ list.

Kamal made the comments one day after a government committee appealed to a United Nations committee for extension of the preparatory period to 2026 instead of 2024 for the country’s graduation process to become a developing country.

The finance minister said that the country had necessary scores in all three main criteria — economic vulnerability index, human assets index and gross national income per capita.

The criteria will be reviewed by the UN Committee for Development Policy in February, Kamal said while talking to reporters after meetings of the cabinet committee on the national purchases and the economic affairs. 

A government delegation, led by Prime Minister’s Office principal coordinator on Sustainable Development Goals affairs Zuena Aziz, on Monday called the UN CDP for extending the preparatory period to five years, from 2021 to 2026, instead of three years, from 2021 to 2024.

The call was made in the backdrop of COVID-19 pandemic which has hit the global economy hard.

The delegation presented Bangladesh’s position in an online session of the Expert Group meeting of the CDP ahead of the upcoming triennial review meeting, according to finance ministry officials.

If Bangladesh gets the five-year preparatory period, the country will formally graduate from the LDC status in 2026.

During this period, Bangladesh would be entitled to enjoy all the international support measures reserved for the LDCs.

Kamal said that Bangladesh became eligible for completing graduation after the successful first review held in 2018.

He noted that the UN body makes positive recommendation for a country that becomes successful in two consecutive reviews.

He expected that the upcoming review would be a historic moment for the country since it is celebrating its 50th anniversary.

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