UN chief announces 'technology bank' for poorest nations

United Nations secretary-general Ban Ki-moon has announced a high-level panel to study the scope and functions of a proposed technology bank dedicated to helping the world's least developed countries (LDCs).

The panel is mandated to advise on the organisational and operational aspects of the technology bank and a science, technology and innovation supporting mechanism.

"The panel will prepare practical recommendations on providing a strong impetus to accelerating structural transformation and sustainable development of the LDCs," said a statement.

World Academy of Sciences executive director Romain Murenzi has been appointed as chairman of the panel which includes ten members from least developed countries and their development partners.