Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites.
Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. For avoidance of any doubts and to make it easier, you may consider any links to external websites as sponsored links. Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

UN ‘Tech Bank’ opens in Turkey, to help poor nations ‘leapfrog development challenges’

“Technology has to diffuse to all communities to enable them to leapfrog traditional development challenges,” said UN Deputy Secretary-General Amina Mohammed at the launch of the new UN Technology Bank in the Turkish city of Gebze; about 30 miles southeast of Istanbul, the country’s commercial hub.

The idea of establishing a capacity-building institution dedicated to the least developed countries (LDCs) came out of the LDC Istanbul Conference in 2011 and was included in the world’s action plan to eliminate poverty when the 2030 Agenda for Sustainable Development was adopted by UN Member States in 2015.

The following year, the UN General Assembly approved the creation of the Technology Bank, which is listed among targets under Sustainable Development Goal 17 on partnership.

Monday’s launch of the Technology Bank marks the first SDG target to have been officially reached, among the 169 targets that have been set as part of the 2030 Agenda.

“The creation of the Technology Bank responds to the proposition that science, technology and innovation are essential elements to transform the economies of the LDCs, promote economic growth and enable countries to address their technology gaps and support their economic diversification and productive capacity building strategies,” said Fekitamoeloa Katoa Utoikamanu, Under Secretary-General and High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States.

According to Acting Managing Director, Heidi Schroderus-Fox, the Bank is already starting its work in 16 LDCs, with STI reviews and technology needs assessments under way in Guinea, Haiti, Sudan, Timor Leste and Uganda.

Projects aimed at improving digital access to research are also underway in Bangladesh, Bhutan, Burkina Faso, Liberia, Madagascar, Malawi, Mozambique, Nepal, Rwanda, Senegal, Uganda, and Tanzania, she said.