Who We Are
The United Nations Technology Bank for Least Developed Countries is a global organization dedicated to enhancing the contribution of science, technology and innovation for sustainable development in the world’s least developed countries.
The UN Technology Bank became operational in 2018 and serves the 47 least developed countries (LDCs) and former least developed countries for up to five years after their graduation from the category. According to the UN, LCDs are low-income countries confronting severe structural impediments to sustainable development. They are highly vulnerable to economic and environmental shocks and have low levels of human assets.
Headquartered in Gebze, Turkey, the UN Technology Bank actively engages with national, regional and international partners to deliver its programme and projects which strengthen science, technology and innovation capacity in least developed countries. The UN Technology Bank supports national and regional technological efforts, reinforces partnerships across sectors and helps nations identify and use appropriate technologies to transform their economies and improve livelihoods.
Least Developed Countries
What are the LDCs? Watch the video to find out.
A Brief History
The Istanbul Programme of Action for Least Developed Countries is adopted at the Fourth United Nations Conference on Least Developed Countries. It calls for the establishment of a Technology Bank dedicated to least developed countries.
The UN Secretary-General appoints members of the Council of the UN Technology Bank and the Council holds their inaugural meeting.
The Government of Turkey provides funding and premises for the new institution in Gebze, Turkey. The Norwegian government also donates funds for the organization’s activities.
The headquarters of the UN Technology Bank are inaugurated and Mr. Joshua Setipa becomes the first Managing Director.
The operationalization of the UN Technology Bank marks the achievement of the first SDG target - target 17.8.