The United Nations General Assembly has unanimously approved an extension of the preparation period for Nepal and Bangladesh to graduate from the Least Developed Country (LDC) category until November 24, 2029.
According to Nepal’s Permanent Mission to the United Nations in New York, the decision was made during the 81st General Assembly meeting on Thursday.
The extension gives Nepal additional time to carry out structural and institutional reforms before graduating from the LDC category. The country plans to use the period to strengthen production capacity, improve institutions and accelerate economic and social transformation.
The additional time is expected to help Nepal prepare for a sustainable and irreversible graduation from the LDC category
