United Nations Conference on Trade and Development : Report
According to a new report by the United Nations Conference on Trade and Development (UNCTAD) developing countries could save nearly $500 billion annually if they were able to borrow at the same interest rates as developed economies.
- United Nations Conference on Trade and Development (UNCTAD) is a permanent intergovernmental body established by the United Nations General Assembly in 1964.
- It supports developing countries to access the benefits of a globalized economy more fairly and effectively.
- It provides economic and trade analysis, facilitates consensus-building and offers technical assistance to help developing countries use trade, investment, finance and technology for inclusive and sustainable development.
- It is part of the UN Secretariat.
- It reports to the UN General Assembly and the Economic and Social Council but has its own membership, leadership, and budget.
- It is also part of the United Nations Development Group.
- Members:195 nations (including India)
- Headquarter: Geneva, Switzerland
- It helps countries to:
- Comprehend options to address macro-level development challenges
- Achieve beneficial integration into the international trading system
- Diversify economies to make them less dependent on commodities
- Limit their exposure to financial volatility and debt
