BANGLADESH FROM LDC TO DEVELOPED NATION: AN OVERVIEW ON

DEVELOPMENT STATUS AND CHALLENGES IN THE ROADMAP

TO DEVELOPED NATION BY 2041

Introduction
1. Bangladesh is a small country of south Asia has already caught attention of the world as
one of the most emerging nation at present. Recant achievement of problem status from least
Developed countries (LDC) to developing country is a giant Leap for countries history. Since her
independence in 1971, the country had been struggling hard to reach the desired destination of
development (Today). Bangladesh is moving towards her dream very fast due to the hard work
of the country men and relent less effort of an emerge as a developed nation by 2041.

2. It was a long journey for Bangladesh to achieve the promotion status from LDC to
developing country. Yet the status is not achieved. The final lift in the status will come info effect
from 2024. Bangladesh needs to be steady on her development to reach the ultimate goal of
developed nation by 2041. The country had already achieved considerable amount of success
in implement ting millennium development Goal (MDG) by 2015 and working hard on achieving
sustainable Development Goal (SDG). Country has already achieved the status of lower middle
income country in 2016 and expecting to become a middle income county by 2021. These
contemporary achievements indicate that Bangladesh can surely achieve her dream goal of
becoming developed nation by 2041. Definitely there will be challenges in this roadmap. But
Bangladesh is deter mind as a nation to meet the challenge and make the dream true.

3. At this backdrop, this paper will initially highlight the recent development status of
Bangladesh form LDC to developing country. Subsequently it will discuss the roadmap for
Bangladesh towards developed nation by 2041 and finally enumerate the challenges there in
the roadmap. to-----------

AIM

4. The aim of this paper is to discus the present development status of Bangladesh and
enumerate the challenges in the development roadmap.

5. General. Bangladesh recently achieved promotion status form LDC. LDC is the list of
countries made by committee for development policy (CDP) under United Nation Economic and
social council (ECOSOC). It indicates the countries exhibit the lowest indicators of
socioeconomic development. The first group of LDCs was listed by UN in 1971. At present 47
countries are listed as LDCs. since the LDC category was initiated; only four countries have
graduated to developing country status.

6. Bangladesh as LDC. Bangladesh got its independence in 1971. The country was
a war raged nation, had nothing of its own. The economy of the country was destroyed. After the
Liberation war, the country started its journey as a new nation. On that period of time,
Bangladesh was listed as one of the LDCs in 1975. Since then, Bangladesh is trying hard to
improve its economic condition and social indicators towards a developing country and finally
could achieve the standard after long 47 years.
7. Achieved Indices in 2018. To achieve the promotion status from LDC to
developing country a country needs to fulfill the requirements in three indices. Bangladesh could
successfully achieve all three indices by March 2018. Though two out of three indices were
enough to achieve promotion status. The achieve indices are:

a. Gross National Income (GNI). GNI is the total domestic and foreign output
claimed by residents of a country. Moreover it consist of gross domestic product (GDP)
and factor income earned by foreign residents Domestic income of the non-residents
will be deducted from it. As on march 2018, the GNI per capita of Bangladesh was 1274
USD. Thereby, Bangladesh achieved the first criteria for promotion from LDC.

b. Human Assets Index (HAI). The HAI is composed of 4 indicators grouped

into health and education sub index. The sub indices are:

(1) Percentage of population under nourished.

(2) Mortality rate of children aged 5 ratio are under.
(3) Gross secondary school enrolment
(4) Adult Literacy rate.

To be promoted from LDC to developing country HAI should be 66 or above. As on

March 2018 HAI of Bangladesh is 73.2.

e. Economic Vulnerability Index (EVI). The EVI is a measure of structural

vulnerability to economic and environmental shocks. The EVI is composed of 8
indicators. They are:

(1) Population.
(2) Remoteness.
(3) Export Concentration.
(4) Share of agriculture fishing in GDP.
(5) Population is coastal zone.
(6) Instability of goods and Services.
(7) Victims of natural disaster.
(8) Instability of agricultural production.
 Considering all the indices the EVI needs to be below 32 for graduation. Bangladesh
achieved EVI as 25.2 as on March 2018.

8. Final Graduation from LDC. Bangladesh advice Promotion status from LDC on
March 2018. But to get the final graduation country needs to wait more time. After reviewing
three more years 2014 the proposal of graduation will be sent to ECOSOC in 2021 and if
Bangladesh can maintain its development for next three more years, the final graduation will be
declared in 2024. From 2024, Bangladesh will be officially a developing country. Yet
Bangladesh will receive the facilities of LDC up to 2027. From 2027 Bangladesh will have to
continue her journey as a developing country
Roadmap to Developed Nation by 2041.

9. General. The ultimate goal of Bangladesh is to be a developed nation by 2041. Deeping the
forge ahead Bangladesh has taken sequential steps to progress step by step. These can be
termed as contemporary development goals in the roadmap which leads to the ultimate goal.

10. Contemporary Development Goal. The contemporary development goals are

described below:

a. MDG. The MDGs were the eight international development goals for the year 2015 that
had been set in 2000. Bangladesh took MDG very seriously and successfully achieved most
of the goals by 2015. Few important MDGs were:

(1) Eradicate extreme poverty and hunger.

(2) Achieve primary education.

(3) Gender equality.

(4) Reduce Child mortality.

(5) Improve maternal health.

b. SDG. After the achievement of MDG, UN decided to put emphasis on SDG. Bangladesh
being a progressive nation took all the SDGs very started to achieve the goal since will surely
help Bangladesh to develop to the desired goal. Few important SDGs are:

(1) No Poverty.

(2) Zero Hunger.

(3) Good health and well being.

(4) Quality education.

(5) Clean water and sanitation.

c. Middle income Country by 2021. Bangladesh is moving to become middle income

country by 2021 which will be another milestone.

d. Developed Nation by 2041. To reach the ultimate goal the last landmark in the
roadmap is being a developed nation by 2041. But there are lot of challenges enraute.
Bangladesh needs to meet those challenges to maintain the steady flow of development.
Challenges to the roadmap

11. Losing Preferential Market: After the final graduation from LDC, Bangladesh will
lose preferential market in the world like GPS facility. There by export of the country may go
down. To get out of this problem Bangladesh needs to improve the standard of the exported
items and diversify export getting out of readymade garments (RMG) sector only.

12. Reduction of Grants and Soft Loans. Being a developing country, Bangladesh will be
reduced from various international grants and soft loans. In that case Bangladesh needs to
improve its internal economy and production to be self sufficient.

13. Increased Subscription to international Platform. Bangladesh will have to participate

in providing subscription to various international platform and fees to UN. A considerable
amount of budget needs to be planned to meet this challenge.

14. Climate Change and Vulnerabilities. The Grate location of Bangladesh has adverse
effect of climate change. Flood, earth quake, global warming will be major challenge for the
development of the country. Religious extremism and terrorist activities will also hinder the
development. Government needs to plan ahead to solve these issues.

Conclusion

15. Recently Bangladesh achieved problem status from LDC to developing country. The
country could achieve this standard for the first time after her inclusion as LDC in 1975.
Bangladesh could successfully achieve all three indices required to be promoted to developing
country. The GNI has reached 1274 USD, Human asset index also came up to 732 and EVI has
gone below to 25.2. Achieving the benchmark has just started the graduation process. The
country will be observed for more three years to review on 2021 and finally after more three
years in 2024.Bangladesh will be graduated to developing country from LDC.
16. The final goal of the country is to become a developed nation by 2041. To achieve that
Bangladesh is following its roadmap. By achieving the goals of MDG and SDG, the country is
moving forward and expecting to be a middle income country by 2021 and there after developed
nation by 2041. With the achievement of the developing country status few challenges will come
forward too. Loosing preferential market, reduction of grants and loans, increased subscription
to international platforms and climate change with vulnerabilities will be the biggest of all
challenges. To meet the challenge Bangladesh needs to diversity is export, improve quality of
product, gain internal production, control terrorism and take necessary steps to fight adverse
effect of climate changes and natural disster. If Bangladesh can judicially plan the upcoming
days and meet the challenges, surely the dream of becoming a developed nation by 2041 will
be at our door step.

Date: June 2018 XXXXX

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