The UN said Friday that next year it is setting up a technology bank to speed the advancement of the world’s least-developed countries, headquartered near Istanbul, Turkey.
The new bank is a "vital milestone" for the world’s poorest countries, said Gyan Chandra Acharya, the UN’s high-representative and undersecretary-general for the least developed countries, landlocked developing countries, and small island developing states.
"I thank the government of Turkey for hosting it and call on the government of Turkey and all the development partners to provide committed and sustained levels of support for its effective operationalization," he added.
According to the website of the Turkish Scientific and Technological Research Council (TUBITAK), the new facility is due to be housed in Gebze, in Kocaeli province, some 70 kilometers east of Istanbul, where TUBITAK already has its Marmara Research Center.
"The new UN institution is viewed as a significant achievement for the development of science, technology, and innovation in the world’s poorest countries," the UN said in a statement.