The Agency is Transitioning to an International Financial Institution Statute
International Innovation Agency
The International Innovation Agency (Agency) is a specialised agency of the World Sports Alliance (Alliance) and a member of the Innovation Alliance.
Our mandate is to support the Alliance pursue its socio-economic initiatives and to further economic development by encouraging the growth of productive private enterprises and the adoption of bitcoin in our member countries.
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Our History
Since its foundation, the Agency has focused on supporting the Sustainable Development Goals (SDGs) using science, technology and innovation as a conduit.
The Agency was formed in July 2020 in Zug, Switzerland as a “not-for-profit” (Verein) multi-stakeholder initiative drawing its mandate from the General Assembly Resolution 73/17. A/RES/73/17.
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Appointed by the Alliance in March 2022, the Agency initially helped the Alliance restructure.
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The Innovation Alliance was formed on July 2022 when the Agency became the specialised agency and financial integrator of the Alliance responsible to manage its assets and, to develop and implement commercial and financial projects to support initiatives in the territory of its Member-States. This major step gave the Agency greater autonomy and better defined strategic responsibilities.
The Agency is currently transitioning to an "autonomous" International Financial Institution* (IFI) reserved to members of the Alliance, positioning the Innovation Alliance to become a key driver of sustainable economic growth and change for youth.
* The term international financial institution (IFI) refers to a financial institution that has been established (or chartered) by more than one country, IGO’s, or other IFI’s to promote public and private investment and to foster economic and social development in developing and transitioning countries.
As an international organisation, an IFI is not subject to national banking and other regulations; it enjoys immunities and privileges determined by the Agreement establishing the IFI and corresponding agreements with its members. IFI’s traditionally provide long-term, low-interest loans, credits, and grants to finance projects run by governments or the private sector and provide technical and policy advice to governments, private enterprises and civil society.