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Supporting developing countries in harnessing technology for development

Financing for the Development in the Era of COVID-19 and Beyond Initiative: Cluster III on Finance and Technology

To advance a coordinated policy response to the financing challenges associated with COVID-19, the United Nations Secretary-General and the Prime Ministers of Canada and Jamaica convened the High-Level Event on Financing for Development in the Era of COVID-19 and Beyond on 28 May 2020.

In the follow-up to the event, six discussion groups where created, composed of Member States, United Nations agencies and various international institutions, with UNCTAD leading Cluster III on Finance and technology.

This short paper has been prepared to structure policy actions and lay out concrete steps to advance the Financing for the Development in the Era of COVID-19 and Beyond Initiative (FFDI).

The paper, with a focus on the technology track of Cluster III, highlights the key support areas that result from the mapping exercise and lists action plans to support the pilot countries in harnessing key technologies development.

The structure of this paper is as follows:

  • Chapter II discusses policy options to create an enabling environment to advance the technology tracks of the Financing for Development Initiative.

    The chapter also suggests collaborative actions that may be taken by Cluster III members and the international community.

  • Chapter III discuss detailed programmes and projects from Cluster III members in the pilot countries.

  • Chapter IV will provide conclusion while a detailed list of action plans from Cluster III members is shown in the Annex. 1