Three countries, including Nepal, have been recommended for upgrading by the Committee on Development Policy under the United Nations. Nepal, Laos, and Bangladesh have been recommended to be upgraded from least developed countries to developing countries.
In order to be upgraded, the criteria specified in at least three areas must be met. According to the Permanent Mission of Nepal to the United Nations, the recommendations of the Committee must be approved by the United Nations Economic and Social Council.
At present, the countries recommended for upgrading have been given the facility to meet the set criteria by 2026.
Per capita income, human development index, and economic risk index are the main criteria for upgrading. Out of this, Nepal has exceeded the prescribed criteria of two indices except for per capita income.
Recently, the 2015 earthquake and the ongoing coronavirus epidemic have affected per capita income.
According to the Nepali Mission, even if upgraded in 2022, Nepal will get the same benefits as an underdeveloped country by 2026.
