Nepal gets three more years to prepare for LDC graduation

The United Nations General Assembly has given Nepal three more years to prepare for graduation from the list of Least Developed Countries.

After the General Assembly's 81st session in New York unanimously passed the proposal, Nepal's graduation date has now been set for November 24, 2029. Previously, Nepal was set to exit the list on November 24, 2026.

The same proposal also gave Bangladesh additional preparation time. Foreign Minister Shishir Khanal had written to the chair of the UN Committee for Development Policy in May requesting an extension.

The government's argument was that institutional preparation was needed to reduce economic risks and face the challenges that come after graduation. Nepal had already met two of the three criteria back in 2015, but the government had requested that the process not proceed immediately, citing the 2072 BS earthquake and the impact of subsequent natural disasters.

This is the second time Nepal has received additional time for graduation. The Ministry of Foreign Affairs held a press conference today to share this information. Nepal said it would use the additional time to boost production capacity, strengthen institutions, and advance economic and social transformation.