TECHNOLOGY BANK FOR LEAST DEVELOPED COUNTRIES
The 2011 Istanbul Programme of Action called for the establishment of a technology bank 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.
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 the science, technology and innovation capabilities of the world’s least developed countries, so 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 preparatory steps necessary to launch and operationalize the Technology Bank by 2017.
Mr. Joshua Setipa assumed the role of Managing Director for the Technology Bank in November 2018.
1. Establishment of the Technology Bank for the Least Developed Countries:
On 23 December 2016 the United Nations General Assembly officially established the Technology Bank for Least Developed Countries. The UN General Assembly tasked the Technology Bank to strengthen the knowledge capacity of the world’s 47 least developed countries, foster development of their national and regional innovation ecosystems to attract outside technology and generate homegrown research and innovation.
Background Note [En]
Resolution Establishing the Technology Bank for the Least Developed Countries: [En]
Technology Bank Fact-sheet [En]
2. 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, was appointed to 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.
3. Signing of the Host Country Agreement:
22 September, 2017 – The Technology Bank was operationalized with the signing of the Host Country Agreement and the Contribution Agreement between the Government of Turkey and the United Nations. The Technology Bank will be located in Gebze, Turkey
Press Release : https://www.un.org/press/en/2017/dev3292.doc.htm
4. Technology Bank Set to Start Operations in 2018:
21 November 2017 – The Council of the Technology Bank for Least Developed Countries held its inaugural meeting in New York. The Council members met to discuss and adopt the programme of work and budget for activities in 2018.
The Council of the Technology Bank approved the following documents:
- Agenda (TBLDC/2017/1)
- Rules of procedure of the Council of the Technology Bank for the Least Developed Countries (TBLDC/2017/2)
- Technology Bank for the Least Developed Countries: budget and programme of work for 2018 (TBLDC/2017/3/Rev.1)
[Banque de technologies pour les pays les moins avancés : prévision budgétaires et programme de travail pour 2018]
- Report on the work of the Technology Bank for the Least Developed Countries in 2017 (TBLDC/2017/4/Rev.1)
[Rapport sur les travaux de la Banque de technologies pour les pays les moins avancés en 2017 (TBLDC/2017/4/Rev.1)]
- Report of the first session of the Council of the Technology Bank for the Least Developed Countries (TBLDC/2017/5)
5. Norway donates more than 1 million USD to the Technology Bank:
20 December, 2017 – The Norwegian Agency for Development Cooperation granted NOK 9 million (about USD 1,070,550) to the Technology Bank for Least Developed Countries to support the Bank as it sets up operations during 2018.
6. Headquarters of the Technology Bank Inaugurated:
4 June 2018 – The premises of the Technology Bank, a new United Nations body, which will address the challenges of the world’s poorest countries through science, technology and innovation, have been officially inaugurated in Gebze, Turkey.