Bangladesh and Nepal will remain in the LDC category until November 2029 following a three-year extension granted by the UN General Assembly.
Bangladesh and Nepal will remain in the LDC category until November 2029 following a three-year extension granted by the UN General Assembly.Khalilur Rahman/FB
Bangladesh

Bangladesh secures three-year deferment of LDC graduation

Both Bangladesh and Nepal have been granted a three-year extension, giving them until November 2029 to strengthen their economies and prepare for the loss of LDC-specific trade benefits
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The United Nations General Assembly (UNGA) has granted Bangladesh and Nepal three additional years to prepare for graduation from the least developed country (LDC) category, extending their preparatory period until November 24, 2029.

UNGA President Khalilur Rahman announced the decision in a Facebook post on Friday, saying the General Assembly had adopted a resolution recognising the economic uncertainties, external shocks and persistent vulnerabilities facing the two countries.

“Today, the General Assembly has adopted a resolution granting Bangladesh and Nepal three additional years to prepare for graduation from the least developed country (LDC) category,” Rahman wrote.

He said the decision recognised the economic uncertainties, external shocks and persistent vulnerabilities confronting both countries.

“This extension is not a retreat, but an investment in lasting progress,” he said, adding that graduation should advance development rather than disrupt it.

“Success must be measured not by time gained, but by resilience built, reforms delivered and development secured,” the UNGA president added.

Both countries had sought additional time to prepare for the transition out of the LDC category, which comes with the gradual loss of trade preferences, concessional support and other international benefits available to the world's poorest economies.

Bangladesh was originally scheduled to graduate in November 2026 after meeting the UN's three graduation criteria on per capita income, human assets and economic vulnerability in successive reviews.

However, the government sought an extension citing economic challenges, global uncertainties and the country's recent political transition. The UN Committee for Development Policy assessed the request before the matter proceeded through the UN Economic and Social Council to the General Assembly.

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