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The Technology Bank has the remit of leveraging technology to help LDCs to fast-track development innovation. It supports LDCs in understanding where they are in terms of technology development and identifying areas, related to science, technology and innovation (STI), where improvements are necessary. To undertake these objectives, the Technology Bank focuses on three?main pillars of work:

Pillar I: To identify development challenges that require technological solutions through Technology Needs Assessments (TNAs),

Pillar II: To identify appropriate technologies and facilitate their transfer to the LDCs, and

Pillar III: To strengthen the STI capacities of the LDCs for the adoption and scaling up of technologies.

The Technology Bank is governed by a 13-member Council with highly respected and well-established experts providing leadership and guidance.?

The establishment of the Technology Bank was called for in the?Programme of Action for the Least Developed Countries for the Decade 2011-2020 (Istanbul Programme of Action).??SDG target 17.8 called for its full operationalization.?The Technology Bank was officially inaugurated in 2018, as a focal point for the LDCs to strengthen their STI capacity,?in recognition of the need to identify the critical tools that can help LDCs fast-track their development so they can improve the lives of their people.?

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
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