Roscongress Foundation and UN Technology Bank sign cooperation agreement

St. Petersburg – On the sidelines of the St. Petersburg International Economic Forum, The Roscongress Foundation and the United Nations Technology Bank for the Least Developed Countries (UN Technology Bank) signed a Memorandum of Understanding (MoU) to establish effective collaboration between the relevant organizations and business communities in the Russian Federation and the world’s 46 least developed countries (LDCs) as part of the implementation of the UN Technology Bank’s programmes. The document was signed by Roscongress Foundation CEO and Chairman of the Board Alexander Stuglev and United Nations Technology Bank Managing Director Joshua Phoho Setipa. SPIEF Director Alexei Valkov took part in the exchange of documents.

The UN Technology Bank is a subsidiary body of the United Nations General Assembly. As the focal point on science, technology and innovation for LDCs, the UN Technology Bank is dedicated to enhancing the contribution of science, technology and innovation for sustainable development in the world’s 46 least developed countries and promotes their integration into the global knowledge-based economy. 

“The UN Technology Bank is an important organization with activities aiming to help the world’s least developed nations develop their economies, improve people’s living standards, and achieve the sustainable development goals. Today, when even the world’s largest economies find themselves in a stressful situation, such international assistance is of particular importance,” Stuglev said.

The parties agreed to develop common communication platforms at the international level and cooperate in areas such as investment and finance, export-import activities as well as tourism and culture. The MoU also provides a framework for the cooperation to strengthen existing and to develop new and long-term partnerships.

“The Roscongress Foundation, as a socially oriented non-financial development institution, is an organizer of key international communication platforms. The Foundation’s activities make a significant contribution to promoting interstate cooperation in various sectors. Supporting the development agenda of least developed countries requires close cooperation between governments, businesses, and the broader scientific community. The inclusion of the UN Technology Bank’s agenda in the Foundation’s work will create relevant opportunities for multi-stakeholder dialogue, collaborations and partnerships in the STI area,” said Setipa.

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