Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

European Union : UNDP and EIB expand partnership to support governments in tackling global crisis

10/20/2020 | 02:15pm EST

The European Investment Bank (EIB) and the United Nations Development Programme (UNDP) have signed a new partnership agreement to scale up their support to countries facing situations of emergency caused by epidemics, natural disasters, conflict and other types of fragility. This agreement will enable both institutions to reinforce the resilience of partner countries and contribute to achieve the Sustainable Development Goals (SDGs). The immediate focus will be to address setbacks, mainly caused by the COVID-19 crisis, in Eastern and Southern neighborhood, Central Asia and Africa.

In situations of emergency, conducting project procurement can represent a challenge too high to ensure a timely response to populations' urgent needs. This new agreement will enable the UNDP to carry out the procurement required for the implementation of projects financed by the EIB in such situations. UNDP's presence in fragile and conflict countries will greatly help EIB financing to reach the most vulnerable and allow both organizations to respond quicker to pressing requests.

During the online signing ceremony, Werner Hoyer, EIB president, and Achim Steiner, UNDP Administrator, exchanged their views on these challenging times.

EIB President Werner Hoyer said: 'A coordinated response is paramount to help the most vulnerable countries recover from the COVID-19 crisis. The EIB, as part of 'Team Europe', has quickly reacted to the health crisis with the aim to build the grounds for a green and sustainable recovery. This Procedural Framework is a fundamental step towards a stronger cooperation with UNDP. It will allow us to leverage our respective strengths to get projects off the ground in situations of emergency and fragility, where time is of the essence to save lives and livelihoods.'

'We are facing an unprecedented crisis. As millions of people lose their jobs, it is estimated that the pandemic will cause the first ever increase in global poverty since 1998,' UNDP Administrator Achim Steiner said. 'The health, economic and social impact of COVID-19 can only be addressed by fast, efficient response and targeted funding - all of which require specific technical expertise that EIB and UNDP can offer jointly to our partners.'

UNDP's partnership with EIB is essential to help countries access and leverage COVID-19 response financing and better prevent future crises. In 2016, the two institutions signed a Memorandum of Understanding enabling them to jointly address global challenges and share knowledge with each other in areas such as migration, climate change and crisis response.

Since then, EIB and UNDP have cooperated on a number of projects, including an Integrated Border Management Project and energy efficient public building refurbishment in Armenia, and the recovery and reconstruction of critical infrastructure, such as schools, clinics and centres which are accommodating internally displaced persons in eastern Ukraine. The two organizations also collaborate in other parts of the Globe. Earlier this year, the EIB and UNDP organized a large survey across Africa to understand better the digital solutions that can help the continent face the COVID-19 crisis and estimated the investment required. The study Africa's digital solutions to tackle COVID-19 provided more than 100 high-impact digital solutions that can help curb the spread of COVID-19 in Africa. This include a self-diagnostic app available in 15 African countries.

About the United Nations Development Programme

UNDP is the leading United Nations organization fighting to end the injustice of poverty, inequality, and climate change. Working with our broad network of experts and partners in 170 countries, we help nations to build integrated, lasting solutions for people and planet.

Learn more at www.undp.org or follow at @UNDP.

Disclaimer

European Union published this content on 20 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 October 2020 18:14:04 UTC


Publicnow 2020
Latest news "Economy & Forex"
05:59pSupreme Court Justices Question IRS Shield in Tax-Shelter Case -- 2nd Update
DJ
05:55pA MORE ACCESSIBLE AND SUSTAINABLE WORLD : A Disability-inclusive Response to COVID-19
PU
05:49pFDA chief Hahn says mid-December vaccine approval just 'possible' - ABC News
RE
05:46pScarce early vaccine supply should go to health workers, nursing homes -U.S. health advisers
RE
05:44pSalesforce to buy workplace app Slack in $27.7 billion deal
RE
05:27pGlobal equity markets jump, bonds dip, on hopes of vaccine-led recovery
RE
05:23pSupreme Court Justices Question IRS Shield in Tax-Shelter Case -- Update
DJ
05:21pNew Zealand Export Purchasing Power Fell in 3Q
DJ
05:15pHouse seen backing bill that could block Chinese firms from U.S. securities markets
RE
05:11pUtilities Recoup Some Losses, But Still Down For Year - Utilities Roundup
DJ
Latest news "Economy & Forex"