United Nations Industrial Development Organization, UNIDO and the European Investment Bank, EIB have agreed to jointly promote inclusive and sustainable industrial development in Africa and other regions.
This, they said would be particularly done in Ethiopia and Senegal, among other countries in Africa where UNIDO’s Progammes for Country Partnership are currently being implemented.
UNIDO added in a statement obtained over the weekdend that other countries of the African, Caribbean and Pacific Group of States, ACP will also be the focus of the new agreement, and geographical areas such as Eastern Europe and the Mediterranean, Central Asia, and Latin America will also be targeted.
The statement disclosed that a memorandum of understanding, MoU on this matter was signed in Luxembourg Friday by the Director General of UNIDO, LI Yong, and the President of the EIB, Werner Hoyer.
It said future joint activities will include investment support activities, technical assistance, and the distribution of good practices and lessons through UNIDO and EIB networks.
It further stated that the collaboration will facilitate and coordinate operations, especially public-private partnerships and investments, including technical assistance for the preparation, implementation and coordination of industrial development strategies and projects.
“The collaboration with UNIDO will focus on some of the key sectors for ACP development, namely in the fields of energy and climate action, while much attention will also be paid to agro-business.
“Our working together will allow a significant increase to leverage on the available financing”, the statement quoted Hoyer.
Also, Yong said, “The new agreement is part of UNIDO’s renewed efforts to establish cooperation partnerships with various international financial institutions to support and scale up business infrastructure and investments in developing countries, and further or goal of helping countries on the path of inclusive and sustainable industrial development”.
According to the statement, UNIDO and the EIB will promote knowledge sharing; facilitate joint activities, and exchange information and documents concerning matters of common interest.

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