UNCTAD REBRANDED AS UN TRADE AND DEVELOPMENT

• United Nations Conference on Trade and Development (UNCTAD) rebranded as UN Trade and Development. 
• 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.

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 Programme. 

About UNCTAD (United Nations Conference on Trade and Development)

• Genesis:

• • • Established as a permanent intergovernmental body by the United Nations General Assembly in 1964
    • Now rebranded as UN Trade and Development

• Objective:

• • • To aid developing countries, particularly the least developed ones, and transitioning economies in integrating effectively into the global economy

• Members:

• • • 195 nations
    • India is confirmed to be a member

• Functions:

• • • Helps countries address macro-level development challenges
    • Assists economies to make them less dependent on commodities
    • Aims to limit their exposure to financial volatility

• Organizational Structure:

• • • Substantive work is carried out by five divisions
    • Under the leadership of the Secretary-General

• Flagship Reports:

• • • Trade and Development Report
    • World Investment Report
    • Digital Economy Report
• Location: Geneva, Switzerland