Context
A recent UNCTAD report has highlighted the disparity in global borrowing costs, estimating that developing countries could save nearly $500 billion annually if they had access to financing at rates comparable to those of developed economies.
About United Nations Conference on Trade and Development (UNCTAD)
- UNCTAD is a permanent intergovernmental organization established by the UN General Assembly in 1964.
- It is headquartered in Geneva, Switzerland, and has 195 member states, including India.
- It functions under the UN Secretariat and is also part of the United Nations Development Group.
- It reports to the UN General Assembly and ECOSOC, while maintaining its own membership, leadership, and budget.
Role and Functions
- It works to ensure that developing countries benefit more effectively from the global economy.
- It provides research and policy analysis on trade, investment, finance, technology, and development issues.
- It facilitates dialogue and consensus-building on global economic and development matters.
- It offers technical assistance to support inclusive and sustainable development.
- It helps countries address development challenges, diversify their economies, and strengthen their integration into the global trading system.
- It supports efforts to reduce vulnerability to financial instability and debt-related risks.
Important Reports
- Trade and Development Report
- World Investment Report
- The Least Developed Countries Report
