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Sustainable development

Enhanced Cooperation between EIB and UNIDO for Inclusive Industrialization and Sustainable Development

Strategic Insights

— 1 min read

Gerd Mller, Director General of the United Nations Industrial Development Organization (UNIDO), and Werner Hoyer, President of the European Investment Bank (EIB), have signed a Joint Declaration to strengthen collaboration in investment operations, particularly in private sector development, inclusive and sustainable industrialization, innovation, and resilient infrastructure. The agreement encompasses various areas of cooperation, including the circular economy, clean energy, SME development, access to finance, pharmaceutical manufacturing, sustainable transport, digitalization, and the fourth industrial revolution. This partnership aims to provide innovative solutions for a global recovery from the COVID-19 pandemic and a green energy transition.

Key Takeaways:

  • The EIB and UNIDO have signed a Joint Declaration for enhanced cooperation in investment operations, focusing on private sector development, inclusive and sustainable industrialization, innovation, and resilient infrastructure.
  • The two institutions will collaborate on circular economy initiatives through the SWITCH to Circular Economy Value Chains programme, clean energy, SME development, and access to finance.
  • The partnership aims to leverage private investment and promote an inclusive green transition globally, particularly in Africa, Eastern Europe, the Mediterranean, Central Asia, Asia, and Latin America.
  • UNIDO and the EIB agree to develop and implement crisis-response operations, such as COVID-19 support initiatives and activities to ensure resilient industrial production and sustainable economic growth.
  • Gerd Mller emphasized the importance of strengthening the partnership between the EIB and UNIDO to provide innovative solutions for a global recovery and a green energy transition.
  • Werner Hoyer highlighted the significance of multilateral cooperation in leveraging private investment and making economies resilient and sustainable.

Statistics:

  • The EIB and UNIDO will collaborate in various areas, including the circular economy, clean energy, SME development, access to finance, and digitalization.
  • The partnership aims to support countries in UNIDO's Programme for Country Partnership (PCP) and the Africa, Caribbean, and Pacific (ACP) countries.
  • The two institutions will explore cooperation opportunities in Eastern Europe, the Mediterranean, Central Asia, Asia, and Latin America.
  • UNIDO and the EIB plan to develop and implement crisis-response operations to support resilient industrial production and sustainable economic growth.

Sources:

  • EU Business School News: EIB and UNIDO Reinforce Partnership for Sustainable Development (2022)
  • European Investment Bank: EIB and UNIDO Sign Declaration of Cooperation (2022)
  • European Business: EIB and UNIDO Reinforce Partnership for Sustainable Development (2022)

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