IKB in brief
The industrial Bank of Knowledge is an innovative mechanism of tripartite cooperation created by the United Nations Industrial Development Organization (UNIDO) to promote the Exchange of knowledge and expertise towards the industrial and productive development in Latin America and the Caribbean countries.
The IKB was founded in 2009. It started operating with an innovative cooperation and knowledge dissemination model, building on existing expertise shared among the countries. Through this independent, flexible and reliable mechanism, necessities are addressed with technical assistance by exchanging knowledge in real time with an efficient cost.
UNIDO plays an active role bringing together the supply and demand of the different institutions and partner countries. Responds to the technical assistance demands making sure that the cooperation takes place in short term, bringing tools for the project formulation if necessary. The members of the IKB are able to perform as donors, recipients or both at the same time.
How the IKB tripartite model operates:
- Entities that donate knowledge: lend their experts to provide technical assistance at no cost and are responsible of the quality, integrity and professionalism of the assistance offered. The process takes place on the basis of specific skills and methodologies developed nationally or institutionally. This technological assistance is free of charge and quantifiable (weeks/expert).
- Entities that receive knowledge (technical assistance from the experts): are in charge of covering the local expenses incurred by the expert (local travel costs, accommodation and food) during the mission.
- UNIDO: covers the travel expenses of the expert (from the country of origin to the mission destination). In addition, UNIDO manages the IKB in order to meet the demands and organize the technical assistance between the donor and recipient entities.
It is often reiterated the need of a sustainable development and equitable economic progress. Therefore UNIDO initiative is centered in three main thematic areas:
- Poverty reduction through productive activities.
- Development of trade capacity-building
- Environment and energy
The novelty of this tripartite approach is the flexible placement of the experts, an efficient cost provision of specialized knowledge and the development of promising opportunities for bilateral cooperation.