DHAKA, Feb. 27 (Xinhua) -- Bangladeshi Prime Minister Sheikh Hasina on Saturday termed the United Nations' recommendation for the country's graduation from the group of the least developed countries (LDCs) to a developing nation as a "historic" event.
Sheikh Hasina made the remarks while holding a press conference virtually in capital Dhaka about the UN recommendation for graduating from LDC status.
"It's a historic event for Bangladesh," said Hasina, adding that the transition from a LDC country to a developing nation is a matter of great pride for them on the occasion of the golden jubilee of Bangladesh.
The United Nations Committee for Development Policy (CDP) has recommended Bangladesh's graduation from LDC status along with Nepal and Laos.
Taffere Tesfachew, chair of the CDP subgroup on LDCs, made the announcement at a briefing Friday night after the second triennial review of the LDC category of UN CDP. The 5-day review meeting began on Feb. 22.
Bangladesh met all the three eligibility criteria for graduation involving income per capital, human assets, as well as economic and environmental vulnerability.
With the final recommendation from the UN panel, Bangladesh has now a five-year transition period meaning the country will formally earn the developing nation status in 2026. Enditem