UN extends LDC graduation timeframe for Nepal

Kathmandu / Oct 30: The United Nations General Assembly has unanimously passed a proposal to extend the preparation period necessary for Nepal and Bangladesh to graduate from the least developed country (LDCs) status until November 24, 2029.

The UN’s 81st General Assembly meeting on Thursday made this decision, according to the Permanent Mission of Nepal to the United Nations, New York.

With this, Nepal now has extra time to carry out necessary structural and institutional reforms more effectively before being upgraded from the list of least developed countries.

Nepal has expressed its commitment to use this period for increasing production capacity, strengthening institutions, and pursuing economic and social transformation.

It is believed that the additional time received from the UN General Assembly will help Nepal easily, sustainably, and irreversibly achieve the goal of graduating from the LDC status. RSS