Hasina credits people for graduation from LDC to developing nation

Prime Minister Sheikh Hasina has dedicated the achievement of graduation from the LDC or least developed country to a developing nation to the people saying: “People achieved it.”

“Now it’s time to stand with our heads high. Now it’s our time, now it’s the time for Bangladesh,” said Hasina encouraging the people of Bangladesh to move forward.

Opening the weeklong programme marking celebrations of the glorious transition of Bangladesh on Thursday at the Bangabandhu International Conference Centre, she said: “Bangladesh will be the best country in South Asia. It’s my wish.”  

The United Nations recognised Bangladesh as a developing country in the month of independence and on the day of Bangabandhu's birthday, which is March 17.

To be a developing country, a country needs to raise per capita income to at least $1,230 on average for three years, the points on the Human Asset Index should be at least 64 and the Economic Vulnerability Index needs to be kept below 32. All the three conditions have to be mainly met for the graduation from the LDC to a developing country.

Hasina said Bangladesh has fulfilled the three conditions on a very large margin.

Bangladesh's current per capita income is $1,610. The HAI is 72.9 and the EVI is 25.

“Bangladesh has initially qualified for these three criteria together. Bangladesh is the only country in the world in this feature.”

If this achievement continues for the next three years, Bangladesh will finally get the graduation from the LDC list in 2021. However, the benefits of low-income countries will continue until 2024.

“Many may ask what is to be gained from this achievement. The benefit is definitely there. But it is much bigger an issue than the one of profit and loss. It's a matter of dignity and self-respect,” Hasina said.

Her eyes filled with tears as she recalled the Father of the Nation Bangabandhu Sheikh Mujibur Rahman.

“I don’t know whether he is watching the achievement of the people of Bangladesh from the heaven,” said Hasina.  

The eldest daughter of Bangabandhu said she believed it would be possible to build a Bangladesh free from hunger and poverty within his 100th birth anniversary in 2020.

“And Bangladesh will become a developed country in South Asia within 2041. We won’t live until then. The next generation will take the country forward,” she said.

Finance Minister AMA Muhith handed the UN recommendation on Bangladesh’s developing country status to Hasina after she was done with her address.

The prime minister also launched a postal stamp to mark the occasion.

UN Under-Secretary Fekitamoeloa Katoa also delivered speech in the programme.