Country to celebrate graduation from LDC tomorrow

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 DHAKA, March 21, 2018 (BSS) – All is set to celebrate tomorrow the historic achievement of the current government in making Bangladesh eligible for graduating from the group of Least Development Countries (LDCs).

The Committee for Development Policy (CDP) of the United Nations on March 15 officially declared the eligibility of Bangladesh for graduating from the LDCs and handed over a formal letter in this regard to Bangladesh’s Permanent Representative to the UN Masud Bin Momen on the following day.

Last year in October, the United Nations Conference on Trade and Development (UNCTAD) in a report projected that Bangladesh would qualify primarily to graduate from the LDCs list in this March as the country already fulfilled all the three criteria to become eligible for the developing country status.

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

According to the UN’s graduation thresholds, GNI per capita of a country should be $1,230 or above. Bangladesh’s GNI per capita was $1,610 at the end of 2016-17 financial year.

For the HAI, a country must score 66 or above and for EVI 32 or below. Bangladesh scored 72.9 and 24.8 in the two indices respectively.

Bangladesh, however, will have to maintain the thresholds for the three indices till the country’s final graduation from the LDC category, which the UN will declare in 2024.

The government has taken all out preparation for a gala celebration as Prime Minister Sheikh Hasina will officially announce the beginning of the process of the country’s prestigious graduation from the LDCs.

On the eve of the celebration, President Abdul Hamid and Prime Minister Sheikh Hasina gave separate message, felicitating the countrymen for their contributions to attain the great honour for the country. They also hoped that the people would continue their efforts and supports to keep this development sustainable.

Prime Minister Sheikh Hasina will begin the day’s celebration early in the morning by placing a wreath at the portrait of Father of the Nation Bangabandhu Sheikh Mujibur Rahman in front of Bangabandhu Memorial Museum in the capital city.

Sheikh Hasina will be accorded a reception at the Bangabandhu International Conference Centre (BICC) in the mid morning for the significant achievement of her government in attaining the prestigious status for the nation and the country.

Besides, jubilant processions will be brought out in the afternoon from nine places of the capital city. The processions will end at the Bangabandhu National Stadium where a colourful cultural show will be held in the evening.

Similar rallies will also be organised across the country from March 22-28 when ministries will display the government’s achievements in different sectors. The local administration will also organise photo exhibitions, art competitions, cultural shows, sport events and video shows on development activities.

The home ministry has already formed a committee to celebrate the achievement at all districts maintaining security and safety.

An international seminar will be held on Friday on the prospect and challenges of the country’s graduation from the LDCs. Finance Minister AMA Muhith will chair the seminar at the BICC.

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