About:

• United Nations Investment Promotion Award recognizes and celebrates the outstanding achievements and best practices of Investment Promotion Agencies (IPAs) across the globe. 
• The evaluation is based on UNCTAD’s assessment of work undertaken by 180 IPAs.
• The response of IPAs to the pandemic became the basis for the evaluation of the 2020 United Nations Investment Promotion Award.
• The COVID-19 pandemic has led to numerous challenges for Investment Promotion Agencies forcing them to shift focus from routine investment promotion and facilitation towards crisis management.

Why in News?

The United Nations Conference on Trade and Development (UNCTAD) has declared Invest India – the National Investment Promotion Agency of India – as a winner of the 2020 United Nations Investment Promotion Award. 

United Nation Conference on Trade and Development (UNCTAD):

• It is a permanent intergovernmental body established by the United Nations General Assembly in 1964 and it reports to the UN General Assembly and United Nations Economic and Social Council. 
• It is part of the UN Secretariat and the principal body dealing with trade, finance, investment and developmental issues.
• The primary objective of UNCTAD is to formulate policies relating to all aspects of development including trade, aid, transport, finance and technology. 
• Some of the Key reports published by it are:

• Trade and Development Report

• World Investment Report

• Global Investment Trend Monitor Report

Reference:

1. https://www.pib.gov.in/PressReleasePage.aspx?PRID=1678902