Wednesday, September 28th, 2022
Bangladesh set to celebrate graduation from LDC
March 21st, 2018 at 8:54 pm
Bangladesh set to celebrate graduation from LDC

Dhaka – Bangladesh is set to celebrate Thursday its graduation to the group of developing nation from the status of the Least Developed Countries.

Prime Minister Sheikh Hasina will begin the day’s celebration early in the morning by placing a wreath at the portrait of Bangladesh’s founding president Bangabandhu Sheikh Mujibur Rahman in front of Bangabandhu Memorial Museum in Dhaka.

She will be accorded a reception at the Bangabandhu International Conference Centre for the significant achievement of her government in attaining the status.

Hasina will officially announce the beginning of the process of the country’s prestigious graduation from the LDCs.

President Abdul Hamid and Prime Minister Hasina in separate messages felicitated the people 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.

Jubilant processions will be brought out in the afternoon from nine places of the city. The processions will end at the Bangabandhu National Stadium where a colourful cultural show and light fest will be held in the evening.

Rallies will also be organised across the country from March 22 to 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 Committee for Development Policy (CDP) of the United Nations on March 15 officially declared the eligibility of Bangladesh for graduating from the LDCs.

The committee handed a formal letter to Bangladesh’s Permanent Representative to the United Nations Masud Bin Momen over Bangladesh’s graduation on March 16.

In October, the United Nations Conference on Trade and Development (UNCTAD) in a report projected Bangladesh to qualify primarily to be graduated from the LDCs in March as the country already fulfilled all the three criteria to become eligible for 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, to be announced by the UN in 2024.

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.