UN extends Nepal’s LDC graduation preparation period until 2029

New York: The United Nations General Assembly has unanimously approved an extension of the preparatory period for Nepal and Bangladesh to graduate from the least developed country category until November, 24, 2029.

The decision was taken at the UN General Assembly session on Thursday, according to Nepal’s Permanent Mission to the United Nations in New York.

The extension will give Nepal additional time to carry out structural and institutional reforms, strengthen production capacity and accelerate economic and social transformation.

Nepal has expressed its commitment to using the extended period to ensure a smooth, sustainable and irreversible graduation from the least developed country category.