The Commonwealth and UN Technology Bank have formed a new partnership to support least developed countries (LDCs) through technology transfer, capacity building, and knowledge sharing.
The two organisations signed a memorandum of understanding committing to collaborate to build science, technology, and innovation capacity for least developed countries in the Commonwealth.
“Through this MOU the UN Technology Bank and Commonwealth Secretariat enter into a close working relationship which opens up immense potential for fruitful cooperation to promote structural transformation of LDC economies. Our joint focus, particularly as we support our LDC members to build back better from the consequences of the pandemic and towards achieving the SDGs, will be on transfer of innovative technologies and to build capacity through exchange of knowledge,” said Commonwealth Secretary-General, Patricia Scotland.
The strengthened cooperation will focus specifically on promoting the structural transformation of LDC economies in an effort to help eradicate poverty, fostering long-term sustainable development.
The partnership will include joint research to assess the needs of least developed countries in the areas of science, technology, and innovation. Capacity will be built through training in innovation and technology policies, digital transformation, and regulatory and intellectual property rights issues.
The new collaboration will also help to facilitate technology transfer and innovation within LDCs with The Commonwealth as a new partner of the UN Technology Bank’s Technology Access Partnership.
Original source: The Commonwealth
