AGARTALA, April 1 (TIWN): A rally will be conducted at Agartala by Asst High Commissioner's office on March 4, 2018 as Bangladesh has been recognized as a Developing Country for the first time by UN.

In a press conference Bangladesh Asst High Commissioner Md. Shakawat Hossain announced this today. 

Bangladesh, for the first time in history, has fulfilled the eligibility criteria set forth by the United Nations (UN) to be recognized as a developing country.

Bangladesh will now be able to apply to the UN for recognition as a developing country, while the formal transition will occur on 2024.

The UN classifies all countries across the world under three criteria, Least Developed Countries (LDC), Developing and Developed. Bangladesh had remained in the list of LDC since 1975.

But, the Bangladesh profile in the UN web portal currently shows that the country has achieved the eligibility criteria for transitioning into the list of developing countries.

To transition from LDC, a country must fulfill three essential criteria- per capita Gross National Income (GNI), Human Resources Index and Economic Vulnerability Index (EVI).

Per capita income of $1,230 is the minimum requirement for transitioning into a developing nation, and Bangladesh’s income per capita currently stands at $1,274.