Bangladesh has stepped into a new journey as it qualified to graduate into a developing nation from a Least Developed Country (LDC) after 45 years.

The prime minister, the government and the people of Bangladesh can be justly proud that the country will now be able to graduate out of the Least Developed Country (LDC) status within the next few years.

The national development discourse in Bangladesh often mistakenly considers graduating from the Least Developed Country (LDC) category and becoming a middle-income country (MIC) as interchangeable. Senior-level policymakers continue to express their aspiration for the country to join the middle-income group by 2021, which marks the 50th anniversary of Bangladesh's independence.

Prime Minister Sheikh Hasina says Bangladesh has become eligible to graduate to a developing country from the LDC group after meeting all the three criteria for the first time due to implementation of various development programmes by the government.

As we move on to middle-income status and depend more on our own financial resources, the role of developed countries will need to change so that they become a genuine development “partner” rather than a “donor”.

Prime Minister Sheikh Hasina has declared her intention to make Bangladesh graduate from being a Least Developed Country (LDC) within the next few years and the government has already formally notified the United Nations of this intent.