18 February 2015: The UN Secretary-General’s High-Level Panel agreed to prepare a study on the creation of a technology bank that would aim to address science, technology and innovation (STI) gaps in least developed countries (LDCs). The decision was taken at a meeting in Gebze, Turkey, which convened from 16-17 February 2015.

The study will, inter alia: address questions on technology transfer, including intellectual property rights; assess the Technology Bank’s potential to assist in the transfer of technologies to LDCs and develop domestic capacities; and consider how the Technology Bank can leverage existing international initiatives to limit duplication of effort and streamline management costs.

The Panel “focused on concrete articulation of the practical and operational aspects of the Technology Bank for LDCs,” said the UN High Representative for LDCs, Landlocked Developing Countries (LLDCs) and Small Island Developing States (SIDS), Gyan Acharya. He added, “once operational, the Bank will make critical contributions to transforming the lives of the poorest segments of the global community.” Panel Chair Romain Murenzi said that the Panel “will propose practical measures with the highest impact” to provide the world’s poorest nations with access to technology to transform their lives.

Efforts to improve the state of science and technology in LDCs and build a knowledge base to use such technology are expected to contribute to LDCs’ ability to fight poverty and improve socio-economic conditions, according to the UN. The sector’s development is further expected to help bridge the technology gap and the digital divide.

The 11-person Panel, composed of LDC representatives and development partners, will deliver its recommendations on the scope, function and organization of the Technology Bank to the UN Secretary-General in July 2015.

The Government of Turkey has offered to host the Technology Bank. [UN Press Release] [UNOHRLLS Press Release] [IISD RS Story on Panel Establishment]