Global technology bank will build on existing initiatives

The UN’s Technology Bank will be based on existing initiatives to improve technology transfer in the developing world, the UN has said.

Following the inaugural meeting of the Technology Bank panel on 17 February in Gebze, Turkey, the UN said the panel would conduct a preliminary study on the development of the bank. The first step of this study will be to outline existing tech-transfer initiatives that the Technology Bank can build on.

This will help to limit duplication of effort across the developing world, and also provide opportunities to keep the cost of the Technology Bank down by combining management and resources, the UN said.