United Nations Committee For Development Policy
The Committee for Development Policy (CDP), a subsidiary body of the Economic and Social Council (ECOSOC), advises the Council on a wide range of issues that are relevant for the implementation of the 2030 Agenda for Sustainable Development.
This UN body is a subsidiary of ECOSOC ( UN Economic And Social Council ) Has recommended Bangladesh should be removed from Least Development Countries
Category. LDC status of a country based on three criteria-
(1) per capita income
(2) human assets index
(3) economic vulnerability index.
The proposal will be sent to the United Nations Economic and Social Council (ECOSOC) for endorsement to be finally approved by the UN General Assembly (UNGA)
About the CDP
The 24 members are nominated in their personal capacity by the Secretary-General and are appointed by ECOSOC for a period of three years. Membership is geared to reflect a wide range of development experience as well as geographical and gender balance.
The CDP meets once a year at the Plenary and subsequently submits its report to ECOSOC. Detailed analysis and recommendations of the CDP are available in various publications. Every three years the CDP reviews the least developed country (LDC) category and recommends to ECOSOC and the UN General Assembly which countries should be included in or graduated from the list. The review is based on quantitative criteria developed by the CDP as well as country-specific additional information.
The CDP also monitors countries that are graduating or have graduated from the LDC list and alert ECOSOC of any sign of deterioration of their development progress.
The CDP is assisted by the CDP Secretariat, which is part of the Economic Analysis and Policy Division (EAPD) of the Department of Economic and Social Affairs (DESA).
Bangladesh has fulfilled the eligibility criteria in terms of per capita income, human assets and economic and environmental vulnerability.
This is the second consecutive time since 2018 that the CDP has made a recommendation for Bangladesh.
The CDP decides on the LDC status of a country based on three criteria- (1) per capita income; (2) human assets index and economic vulnerability index.
A country must achieve at least two of the three criteria at two consecutive triennial reviews to be considered for graduation.
The proposal will be sent to the United Nations Economic and Social Council (ECOSOC) for endorsement in June to be finally approved by the UN General Assembly (UNGA) in September 2021.
Impacts: (1)Preferential provisions in export, provision of subsidy to agriculture and infant industries and access to climate finance are likely to stop after transition from LDC; (2) enhanced confidence of international financial bodies, improved credit rating and higher FDI are expected to benefit Bangladesh after the transition period is completed.
The Committee for Development Policy
It is a subsidiary body of the United Nations Economic and Social Council (ECOSOC).
Function: To provide independent advice to the Council on development policy issues. The Committee is also responsible for deciding which countries can be considered least developed countries (LDCs). The Committee has 24 members, nominated in their personal capacity by the United Nations Secretary-General and appointed by ECOSOC for a period of three years. Bangladesh will get time up to 2026 to prepare for the transition to the status of a developing country. Usually, countries are given three years for transition but this year due to the Corona pandemic, Bangladesh has been given five years for the process.