The UN Technology Bank and the Commonwealth signed a memorandum of understanding (MoU) to collaborate on building science, technology, and innovation (STI) capacity for least developed countries (LDCs) in the Commonwealth. Their collaboration will be dedicated to embracing the structural transformation of LDC economies in an endeavor to help eradicate poverty and uphold long-term sustainable development. This will further cover joint research and capacity development in STI, digital transformation, and regulatory and intellectual property rights issues. 'As practical expressions of multilateralism with global reach, both the UN and Commonwealth have long been at the forefront of inclusive co-operation. Through the organs and initiatives which facilitate and encourage co-operation individually and collectively among our respective member countries, we continue to mobilise broad and inclusive progress -particularly for LDCs,' said Commonwealth Secretary-General Patricia Scotland.