The United Nations Industrial Development Organisation (Unido) and development finance institution the European Investment Bank (EIB) have signed a joint declaration to enhance cooperation related to investment operations in the field of private sector development, with a particular focus on inclusive and sustainable industrialisation, innovation and resilient infrastructure.

The focus will be on the circular economy, clean energy, climate change action and access to finance, with an initial focus on Africa, Caribbean and Pacific countries.

Joint areas of cooperation include the circular economy, notably through the switch to circular economy value chains programme; clean energy and climate change action; small and medium-sized enterprise development; access to finance and investment support; pharmaceutical and vaccine manufacturing; sustainable transport and e-mobility; and digitalisation and the Fourth Industrial Revolution.

The two institutions intend to explore cooperation opportunities, especially in Africa, in the countries of Unido’s Programme for Country Partnership, or PCP, as well as in the context of the Africa, Caribbean and Pacific countries, where the EIB is particularly active.

Other possible geographical areas could include Eastern Europe and the Mediterranean, Central Asia, Asia and Latin America, where the institutions already operate.

Further, Unido and the EIB have also agreed to develop and implement crisis- and fast-response operations when needed, such as Covid-19 support initiatives or activities to ensure resilient industrial production and sustainable economic growth.

“I am glad to strengthen the partnership between our two organisations to provide innovative and concrete solutions for a global recovery from the Covid-19 pandemic and a green energy transition. Together, we can build bridges between developing countries, emerging markets and European partner countries, and foster global solidarity. This is urgently needed,” emphasises Unido director-general Gerd Müller.

“Multilateral cooperation is vital to leverage private investment and make economies across the world resilient and sustainable. I am delighted to renew our collaboration with Unido, which is a key partner to promote an inclusive green transition globally. Via EIB Global, our new branch for international development and partnerships, we will join forces to reduce poverty and enhance investment in sustainable infrastructure,” says EIB president Werner Hoyer.