The United Nations Technology Bank for Least Developed Countries was established as a subsidiary organ of the UN General Assembly on 23 December 2016[1] by the United Nations resolution 71/251 to support Least Developed Countries (LDCs) to strengthen their science and technology and innovation (STI) capacities.
An agreement was signed on 22 September 2017 between the United Nations and Türkiye on financial and in-kind support of the Technology Bank.
[4] The Turkish Government committed to provide the Bank with $2 million annually for five years.
[5] On 4 June 2018,[6][7][8] the premises of the Technology Bank in Gebze, outside of Istanbul, Türkiye were formally inaugurated by the UN Deputy Secretary-General, Amina J. Mohammed, and the Bank's first managing director, Joshua Phoho Setipa, who was subsequently appointed in December 2018.
It was adopted during the first part of the LDC5 conference on March 17, 2022 and endorsed by the General Assembly through resolution A/RES/76/258 on April 1.