LDC graduation will impact aid from donor nations: Swedish Ambassador

Lindgren, who is based at Sweden’s embassy in New Delhi, observed during a brief meeting with local media yesterday that his own government “has very strict of GDP per-capita criteria and has decided to focus its aid elsewhere on least developed countries, particularly in Africa.”

The Maldives this year became one of only three countries to graduate from the UN’s definition of ‘Least Development’, since the introduction of the term. As a consequence, the Maldives loses access to both concessional credit, certain trade concessions, and some of the foreign aid upon which aspects of the country – such as civil society – have historically depended on for both skills and financial support.

A World Bank Economic Update Report released in November 2010 showed a per capita Gross Net Income (GNI) for the country of US$4090 for 2010, up from US$3690 in 2009.