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.

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