Bangladesh set to celebrate LDC graduation eligibility

Bangladesh set to celebrate LDC graduation eligibility

The government on Thursday launched a five-day programme to celebrate Bangladesh’s eligibility for graduation from the group of least developed countries to a developing one. The government has taken all out preparation for the celebration of the success in the capital city while the festivity will continue for a week across the country. As the main part of the celebration, prime minister Sheikh Hasina was accorded a reception at the Bangabandhu International Conference Centre in the morning. At the reception, finance minister AMA Muhith handed over the UN’s letter of recognition to the prime minister for the significant achievement of her government in attaining the prestigious status for the nation and the country. Prime minister Sheikh Hasina will officially open the programmes at a function at Bangabandhu National Stadium in the city this evening. Different ministries, divisions and government offices are scheduled to bring out processions in the city holding banners and festoons. The processions will meet at Bangabandhu National Stadium in the evening to join a gala function there. A laser show and a cultural function will be held there on the occasion which will remain to all. Besides, people from all walks of life, including government officials, are set to take out rallies across the country to celebrate the day. 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. Tomorrow, a seminar will be held at Radisson Blu Dhaka Water Garden. In the evening, a laser show and water display will be held at Hatirjheel Lake. Bangladesh has recently officially received the confirmation letter from UN’s Committee for Development Policy about attaining the three graduation criteria to consider for graduation from the group of least developed countries to a developing one. According to the UN’s graduation thresholds set at the triennial review in 2015, gross national income per capita of a country has to be $1,242 or above. Bangladesh’s GNI per capita rose to $1,610 at the end of fiscal year 2016-17. The GNI per capita is the value of a country’s final income in a year divided by its population. It reflects the average income of a country’s citizens. On the other two indexes — human assets and economic vulnerability — a country has to score 66 or above and 32 or below respectively. Bangladesh’s score in the human assets index stood at 72.9 and the economic vulnerability index is 24.8, meaning the country meets all the criteria. 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.
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