United Nations Conference on Trade and Development (UNCTAD) rebranded as UN Trade and Development | Current Affairs | Vision IAS
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United Nations Conference on Trade and Development (UNCTAD) rebranded as UN Trade and Development

Posted 26 Apr 2024

1 min read

 

  • The rebranding marks the start of the 60th anniversary of the organization.
    • This strategic move underscores the organization's commitment to increasing its global voice on the behalf of developing countries.

 

  • About UNCTAD
    • Genesis: Established as a permanent intergovernmental body by the United Nations General Assembly in 1964.
    • Objective: To aid developing countries, particularly the least developed ones, and transitioning economies, in integrating effectively into the global economy.
    • It help countries to- 
      • Comprehend options to address macro-level development challenges
      • Diversify economies to make them less dependent on commodities
      • Limit their exposure to financial volatility, etc.
    • Members: 195 nations (including India)
    • HQ: Geneva, Switzerland
    • Key Reports: Trade & Development report, World Investment report & the Least Developed Countries report etc. 

 

  • Key Achievements: 
    • Implementation of Financing for Development, as mandated by the global community in the Addis Ababa Agenda (2015), together with four other major institutional stakeholders.
      • The institution includes the World Bank, the International Monetary Fund, the World Trade Organization, and the United Nations Development Programme.
    • Assisted countries under the Debt Management and Financial Analysis System (DMFAS) Programme.

 

  • Tags :
  • UNCTAD
  • United Nations Conference on Trade and Development
  • UN Trade and Development
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