The UN General Assembly has approved a proposal to upgrade Nepal to the list of developing countries.
The 40th meeting of the 76th session of the UN General Assembly held in New York, USA on Thursday approved the proposal to upgrade Nepal from the list of least developed countries to the list of developing countries.
According to the Permanent Mission of Nepal to the United Nations, New York, the proposal to place Nepal on the list of least developed countries was unanimously approved by the UN General Assembly.
Nepal will rise in this list only in the next 5 years, i.e. in 2026. These 5 years will be considered as a transitional period.
Until then, Nepal will continue to receive all the facilities and assistance that it enjoys as a least developed country.
Nepal’s Permanent Representative to the United Nations in New York, Amrit Bahadur Rai, reacted to the approval of the proposal to upgrade Nepal from a Least Developed Country to a List of Developing Countries. ‘
The resolution, passed by the UN General Assembly, also mandates the Committee for Development Policy under the United Nations Economic and Social Council (ECOSOC) to reconsider its decision to upgrade Nepal to a list of developing countries by 2024.
Last February, the United Nations Committee on Development Policy recommended that Nepal be included in the list of least developed countries.
Nepal had already met the criteria in 2015 to rise from the list of least developed countries to this list.
Before being promoted to the list of developing countries, Nepal will have to formulate a national policy in a transitional period of five years. For this, Nepal needs the support of the United Nations system and other bilateral, regional and multilateral development and trade partners.
Bangladesh and Laos too
The UN General Assembly has approved a proposal to upgrade Nepal as well as Bangladesh and Laos in Asia from the list of least developed countries to this list.
