Technology Bank for LDCs

The Technology Bank assists LDCs to build their science, technology and innovation (STI) capacities, which are essential to foster structural transformation of their economies, eradicate poverty and promote sustainable development. 

The Programme of Action for the Least Developed Countries for the Decade 2011-2020 (Istanbul Programme of Action) 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 was the object of target 17.8 of the Sustainable Development Goals. The Technology Bank was officially inaugurated in 2018.

Currently, the Technology Bank, conducts baseline science, technology and innovation reviews and Technology Needs Assessments of LDCs, in collaboration with other UN entities, intergovernmental organizations and other partners, including the private sector, and the respective governments; works to stimulate the production of high-quality research in LDCs through capacity development and international research collaboration; and works to strengthen the capacity of academies of science in LDCs, in partnership with regional networks of academies, the regional commissions and regional development banks.  

A number of initiatives have been introduced more recently, including; science, technology and innovation capacity-building programmes in LDCs in the areas of biotechnology in partnership with UNESCO and the World Academy of Sciences for the advancement of science in developing countries and the International Centre for Genetic Engineering and Biotechnology; SDG Impact Accelerator projects in Bangladesh and Uganda, in partnership with Turkey and UNDP to unlock entrepreneurial talent and leverage emergent technologies to improve livelihoods; and an innovation programme focused on supporting LDCs to exploit their latecomer advantages  and leverage existing technologies through entrepreneurial activity as well as enhancing their capacity to find, adapt and adopt proven, off-the-shelf technologies. The Technology Bank, in partnership with private sector, is supporting LDCs to build capacities of healthcare workers and communicates in addressing hearing loss for children under 14 years in Bhutan through know-how and technology transfer. The Technology Bank in collaboration with Turkey, will support joint programmes targeted at youth, technology transfer in food production and post-harvest waste management and sustainable housing in LDCs. The Technology Bank has also joined the Alliance for Affordable Internet, a partnership with the World Wide Web Foundation that aims to ensure equitable access to meaningful Internet in LDCs. These are some of the initiatives and programmes that graduating countries can benefit from and incorporate into their smooth transition strategy for graduation. 

In order to enhance the capacity and effectiveness of the Technology Bank, Member States, as well as international organizations, foundations and the private sector are invited to provide voluntary financial and in-kind resources to support LDCs and graduated LDCs.

What happens after graduation?

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

More on the Technology Bank on this Portal