Faruk Özlü, Minister of Science, Industry and Technology, stated that the United Nations (UN) General Assembly approved the establishment of the International Technology Bank in Turkey with the aim of strengthening the science, technology and innovation capacities of the least developed countries and said: "The bank, whose headquarters will be in Turkey, will start its activities next year under the leadership of the United Nations (UN) and under the coordination of the Scientific and Technological Research Council of Turkey (TÜBİTAK). It will guide the 48 least developed countries in the processes of scientific and technological cooperation and the creation of intellectual property infrastructure."

Özlü reminded that President Recep Tayyip Erdoğan announced a package of commitments for the least developed countries at the United Nations (UN) Least Developed Countries (LDCs) Conference in 2011, when he was Prime Minister, and said that one of the commitments in the package regarding science and technology was the establishment of an international center that would act as a "technology bank" for these countries.

The Bank Has Two Pillars

Minister Özlü pointed out that the International Technology Bank, which will be established for the least developed countries, about half of which are Muslim countries, and TÜBİTAK will play an important role in the studies to be carried out for these countries, and pointed out that Turkey's role in the Developing Eight Countries (D-8), as well as hosting the International Technology Bank, will trigger the establishment of cooperation between the least developed countries and the D8 countries. Minister Özlü said, "This will have an important share in the process of sharing the technologies developed by the D8 countries with the least developed countries and establishing collaborations that will benefit all partners."

Stating that it has been decided that the International Technology Bank will consist of two main pillars, Özlü gave the following information: "One of them is the Science, Technology and Innovation Support Mechanism and the other is the Intellectual Property Bank. Through these mechanisms, the Bank will guide the 48 least developed countries in the processes of establishing scientific and technological cooperation and intellectual property infrastructure. In the studies to be carried out by the International Technology Bank, the '2030 Sustainable Development Goals' announced by the UN will be the focal point."

Planned to be Established in TÜBİTAK TÜSSİDE Campus

Minister Özlü said the following about the functioning of the International Technology Bank, which is planned to be established on the campus of the TUBITAK Turkish Industry and Management Institute (TÜSSİDE) in Gebze:

"The most critical function of the International Technology Bank will be capacity building. When the Bank becomes operational, the least developed countries will first be subjected to a 'needs analysis' and services will be provided in line with their deficiencies. These countries will be provided with training and support in the development and implementation of science and technology policies and the establishment of governance mechanisms. The intellectual property obstacle faced by the countries will be solved with the Intellectual Property or Patent Bank, which is one of the components of the bank."

Özlü pointed out that another function of the bank is to "facilitate access to international scientific publications" and drew attention to TÜBİTAK's role in this process. Underlining the need to conduct joint research with the countries in question and work together on the needed issues, Özlü said, "TÜBİTAK already funds scientific collaborations. This will be the ideal model in the future. Our biggest goal is for Turkey to contribute to these important efforts to reduce income inequality and large differences in development levels in the world."