Technology Bank_891

Technology Bank for Least Developed Countries

The 2011 Istanbul Programme of Action called for the establishment of a technology bank and a science, technology and innovation supporting mechanism dedicated to least developed countries (the “Technology Bank”), a long-standing priority of the LDCs confirmed in the 2015 Addis Ababa Action Agenda and in Sustainable Development Goal 17. The establishment of the Technology Bank is expected to be the first target of the SDGs to be met.

Preparatory work towards the Technology Bank culminated with the report of the feasibility study prepared by a High-Level Panel of Experts in 2015. The Panel’s recommendations highlighted that the Technology Bank, modelled on the United Nations University, has the potential to strengthen national capabilities and provide expertise to the world’s least developed countries, ensuring that they are no longer left behind in achieving internationally agreed development goals. The panel underscored that the establishment of the technology bank is not only required but also feasible. On that basis the General Assembly requested the Secretary-General to take the steps necessary to launch and operationalize the Technology Bank by 2017.

Information for Media

Progress towards the establishment of the Technology Bank for the Least Developed Countries:

Interim Council of the Technology Bank

26 May 2016 – In order to expedite the process, the Secretary General has appointed the members of the Inter-Governing Council of the Technology Bank. In the period leading up to the formal establishment of the new institution, the Governing Council provides support to the Secretary General towards the operationalization of the Technology Bank by 2017. 

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Meeting of the Interim Council

26-27 July 2016 – The meeting of the Interim Council of the Technology Bank took place on at United Nations Headquarters in New York, United States.

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Establishment of the Technology Bank for the Least Developed Countries:

On 23 December 2016 the United Nations General Assembly in New York officially established the Technology Bank for Least Developed Countries.

Press Release [En] [Fr]

Background Note [En]

Resolution Establishing the Technology Bank for the Least Developed Countries: [En]

Charter of the Technology Bank for the Least Developed Countries (A/71/363) [E] [S] [F] [Ar] [Ru] [Ch]

Technology Bank Fact-sheet [En]

Appointment of the members of the Council of the Technology Bank:

23 March 2017 – After the adoption of the General Assembly resolution on the establishment of the Technology Bank for Least Developed Countries and as mandated by its Charter the Secretary-General has appointed the members of the Council of the Technology Bank for a term ending in 2019. The Secretary-General confirmed the experts that served on an interim basis since May 2016 (see bio notes) and appointed the new Under-Secretary-General and High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States Fekitamoeloa Katoa ‘Utoikamanu to serve as his representative in the Council.

Ms. Heidi Schroderus-Fox, Director of OHRLLS, will serve as acting Managing Director of the Technology Bank during the operationalization phase of the Bank until a Managing Director is recruited and has assumed duties.

The Trust Fund is open to contributions from all stakeholders, including Member States.

Technology Bank for Least Developed Countries Operationalized:

Press Release

22 September 2017 – The Technology Bank, a new body dedicated to the least developed countries was operationalized today, with the signing of the Host Country Agreement and the Contribution Agreement between the Government of Turkey and the United Nations. This marks an important milestone in global efforts to strengthen the science, technology and innovation capacity in the world’s 47 least developed countries.

The Technology Bank will be located in Gebze, Turkey.  The new Bank is expected to improve the utilization of scientific and technological solutions in the world’s poorest countries and promote the integration of least developed countries into the global knowledge-based economy.  This will be achieved through improving technology-related policies and facilitating the access to appropriate technologies.

The Secretary-General said:  “The operationalization today of the Technology Bank for the least developed countries marks a major step forward in assisting the world’s most vulnerable countries to shore up their science, technology and innovation aspirations and potential.  This new Bank will help to ensure that we live up to the expectations of the international community to achieve the 2030 Agenda, realize the Sustainable Development Goals and leave no one behind.”

“I welcome Turkey’s generous financial support as host of the Technology Bank and I am encouraged by the equally generous pledges from the least developed countries.  I urge other Member States and stakeholders including the private sector, academia and foundations to also make voluntary contributions.  Collectively, we shall ensure a solid and sustainable financial footing for the Technology Bank,” said Ms. Fekitamoeloa ‘Utoikamanu, High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States.

In 2011, the Istanbul Programme of Action for the least developed countries called for the establishment of a technology bank dedicated to least developed countries.  This long-standing priority was confirmed in the 2015 Addis Ababa Action Agenda on Financing for Development and in the 2030 Agenda for Sustainable Development, Sustainable Development Goal target 17.8.  In December 2016, the United Nations General Assembly adopted resolution 71/251 on Establishment of the Technology Bank for Least Developed Countries.

Technology Bank for World’s Poorest Countries Set to Start Operations in 2018:

Press Release

November 2017 – The Council of the Technology Bank for Least Developed Countries concluded its inaugural meeting in New York today. The Council members met to discuss and adopt the programme of work and budget for activities in 2018 .

“The Technology Bank has tremendous potential to tackle one of the great new divides of our times   access to science, technology and capacity to innovate. It will bring on board and coordinate expertise from the entire UN System to support the world’s poorest countries across the whole spectrum of science, innovation and technology. The full operationalization of the Technology Bank is the first Sustainable Development Goal target (17.8) to be achieved,” said Ms. Fekitamoeloa Katoa ‘Utoikamanu, Under-Secretary-General, High Representative of the Secretary-General for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States, and the Secretary-General’s representative on the Council.

“The Technology Bank is a new entity. It fits within the spirit of the Secretary-General’s overall reform efforts to adapt the United Nations to better support the implementation of the SDGs on the ground.”

Council members, meeting in New York, agreed that in 2018 the Technology Bank will focus on preparing a number of STI  reviews and technology needs assessments in  the world’s poorest countries. The Institution will also work in collaboration with other UN entities on promoting digital access to research and technical knowledge.

Hosted by the Government of Turkey, the Technology Bank will be located in Gebze where the premises of the Bank are currently under construction and are expected to be inaugurated in the spring of 2018. 

The Bank is expected to improve the use of scientific and technological solutions in the world’s poorest countries and promote the integration of these nations into the global knowledge-based economy.  In 2011, the Istanbul Programme of Action for the least developed countries called for the establishment of a technology bank dedicated to least developed countries.  

This long-standing priority was confirmed in the 2015 Addis Ababa Action Agenda on Financing for Development and in the 2030 Agenda for Sustainable Development, Sustainable Development Goal target 17.8.  In December 2016, the United Nations General Assembly adopted resolution 71/251 on Establishment of the Technology Bank for Least Developed Countries.

List of council members