UNGA formally defers LDC graduation of Nepal, Bangladesh to 2029

KATHMANDU: The United Nations General Assembly has unanimously approved a three-year extension to the preparatory period for Nepal and Bangladesh to graduate from the category of Least Developed Countries (LDCs).

The decision was approved at a plenary meeting of the United Nations General Assembly (UNGA) early Friday morning. UN General Assembly President Khalilur Rahman chaired the meeting..

The decision gives both countries until November 24, 2029, to prepare for the graduation.

At the beginning of the meeting, Uruguay’s representative, speaking on behalf of the G-77, tabled a draft proposal to defer the LDC graduation of Bangladesh and Nepal by three years. The proposal was passed unanimously.

Khalilur Rahman, president of the 81st session of the UN General Assembly and Bangladesh’s foreign minister, said the extension recognized the economic uncertainties, external shocks and persistent vulnerabilities facing the two countries. “This extension is not a retreat, but an investment in lasting progress. Graduation should advance development, not disrupt it,” he said. “Success must be measured not by time gained, but by resilience built, reforms delivered and development secured.”

Nepal formally requested an extension for the preparatory period for its graduation on May 15.

In response to Nepal’s request, the Committee for Development Policy (CDP) prepared a crisis assessment under its enhanced monitoring mechanism and concluded that an extension of the preparatory period by the General Assembly would be appropriate, provided that the extension is linked to the development and implementation of a clear and time-bound plan to adjust and reprioritize its smooth transition strategy.