Technology Bank for LDCs

The Programme of Action for the Least Developed Countries for the Decade 2011-2020 (Istanbul Programme of Action  or IPOA) called for the establishment of a “Technology Bank and Science, Technology and Information supporting mechanism, dedicated to least developed countries which would help improve least developed countries’ scientific research and innovation base, promote networking among researchers and research institutions, help least developed countries access and utilize critical technologies, and draw together bilateral initiatives and support by multilateral institutions and the private sector, building on the existing international initiatives.” The full operationalization of the Technology Bank for the LDCs was part of target 17.8 of the Sustainable Development Goals.  

The Technology Bank for the LDCs was established by the General Assembly in December 2015. Its premises were officially inaugurated in June 2018 in Gebze, Turkey. The Technology Bank will implement projects and activities in the LDCs and serve as a knowledge hub connecting LDCs’ Science, Technology and Innovation (STI) needs, available resources, and actors who can respond to these needs. The first stage of operations includes activities aimed at improving the access of scientists and researchers to publications, data, research and technical knowledge (TBLDC, 2018).  

After graduation from the LDC category, countries continue to have access to the LDC Technology Bank for a period of five years.

See also: Tech Access Partnership – A COVID-19 Technology Sharing Platform for LDCs

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