A finance ministry statement said Bangladesh sought the five years from 2021 to 2026 for preparations to make the graduation process sustainable and smooth. Bangladesh fulfilled all the criteria necessary for the graduation to a developing country in 2018. If Bangladesh’s proposal for the preparations is approved, it will formally enter the developing nation bracket in 2026. After the formal graduation, Bangladesh will lose the benefits for LDCs, such as soft loans and export facilities. Fatima Yasmin, the economic relations secretary, made a presentation on Bangladesh’ journey towards the developing nation status through socio-economic development at Tuesday’s meeting.

Source: bd News24 January 12, 2021 21:00 UTC