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Technology Bank receives strong support and endorsement from LDCs in report to UN

New York – 21/10/2024 

In the UN Technology Bank’s (UNTB) presentation this week to the United Nations General Assembly, the Managing Director highlighted its crucial role in advancing development for the world’s poorest countries.

Submitting the organization’s report in New York on 22 October 2024, Deodat Maharaj emphasized:

 

“The work of the United Nations Technology Bank remains indispensable for the achievement of the Sustainable Development Goals in least developed countries (LDCs). Now more than ever, we need to ensure that they can leverage science, technology and innovation to create opportunities and good livelihoods for their people.”

 

In his statement, Mr. Maharaj outlined the ongoing challenges faced by world’s 45 poorest countries. These include structural barriers, limited infrastructure, and low levels of technological development. He added that the UNTB was “fully aligned” with the goals of the recently-agreed Pact for the Future and its Global Digital Compact which prioritize inclusive digital transformation and bridging the digital divide.

The report underscores the success and impact of the UNTB’s work such as the flagship Technology Needs Assessments (TNAs) in identifying key areas where science, technology and innovation can address the most pressing needs of LDCs.

Since its inception in 2018, the UNTB has completed TNAs in 14 countries, with three more ongoing. These assessments have empowered LDCs to identify and prioritize their technological requirements, laying the groundwork for targeted support and investment. In addition,100 students have benefited from two-year Masters scholarships - awarded in partnership with the . Ongoing projects in The Gambia, to reduce post-harvest cashew nut losses and in Bhutan to improve ear care for children demonstrate the practical impact of UNTB’s work on the lives of people from LDCs, the report says.

Concluding his address, Mr Maharaj noted that the UN Technology Bank will require “adequate and predictable” funding going forward to help advance a transformational agenda in LDCs. He urged UN Member States and partners to commit the necessary financial and technical resources to enable the United Nations Technology Bank to fulfil its mandate and thanked the Secretary-General, Member States and partners for supporting its mission so far. Member states speaking at the event expressed their full support to the mandate and results of the UNTB. 

In response, Eritrea’s representative to the United Nations said:

 

“Investing in Science, Technology and Innovation is critical if we are to if we are to achieve transformative change in LDCs. We strongly support the mandate of the UN Technology Bank for LDCs and call for increased support for the bank.”

 

The Gambia expressed its gratitude to the UNTB for its commitment to enhancing the technological and innovative capabilities of the country, as well as its pivotal role in conducting technology needs assessments and identifying critical areas for interventions in LDCs.

 

“We emphasize the need for the UN Technology bank to be fully operational and adequately funded. In this regard, we call on the UN and its partners to provide both financial and core resources ensuring the predictable and effective fulfilment of the Bank’s mandate,” she said.

 

In its intervention, the representative for Cabo Verde praised the new Managing Director of the UN Technology Bank for his dynamic approach and transparent way of working with the UNTB Executive Council. She said that given Cabo Verde’s graduation process in 2008, the country would be willing to share its experience with other countries and partners.

 

“The recent adaptation of the Pact for the Future and its annexes represents a window of opportunity for developing countries and in particular, the most vulnerable. The report of the Technology Bank is inspiring and shows us that despite the huge challenges faced by the LDCs, we also register many positive signs.”

 

In a statement, Bhutan said:  

 

“We underline the need to support the UN Technology Bank with sustained and predictable funding to ensure that it can help LDCs leverage Science, Technology and Innovation for economic transformation as envisioned by the Doha Programme of Action (DPoA).” The DPoA is a 10-year initiative to empower LDCs and was adopted in March 2022.

 

For media inquiries or further information, please contact: tbldc-media@un.org