Bangladesh attained all criteria to be a developing country. The Committee for Development Policy, a United Nations panel, made an announcement on Bangladesh’s eligibility at a meeting at the UN headquarters in New York.
Bangladesh has met all the three criteria to be elevated to a developing country getting out of the list of Least Developed Countries.
‘The CDP will officially communicate this to the mission at a simple ceremony today [early Saturday],’ said state minister for foreign affairs M Shahriar Alam on a facebook post.
The three criteria are Gross National Income (GNI) per capita, Human Assets Index (HAI) and Economic Vulnerability Index (EVI).
As per UN’s requirement to be a developing nation, the GNI per capita of a country needs to be $1,230 or above. Bangladesh’s GNI per capita is now $1,272. In terms of the HAI, a country must have a score of 66 or above. Bangladesh’s score is now 72.8.
The HAI is an indicator of nutrition, health, adult literacy and secondary school enrolment rate.
In the economic vulnerability index (EVI), a country’s score has to be 32 or below. Bangladesh’s score is 25 in the EVI, an indicator of natural and trade-related shocks.
The CDP will review Bangladesh’s progress in 2021, and the country’s official graduation from the LDC category will take place after a three-year transition period.
If a country maintains its position in all the three categories for six consecutive years, it will eventually graduate from the LDC bloc.