EIB and UN Agencies Team Up to Drive Climate and Social Projects Worldwide

EIB and UN Agencies Team Up to Drive Climate and Social Projects Worldwide

(IN BRIEF) The European Investment Bank (EIB) and five United Nations (UN) institutions have signed an agreement to enhance their collaboration on projects aimed at achieving Sustainable Development Goals. This agreement allows the EIB to directly finance technical assistance and advisory support from UN partners, including UNDP, WHO, FAO, UNOPS, and IOM. The partnership leverages the global presence and expertise of UN agencies to assist project promoters in meeting international standards and accessing EIB financing. It supports initiatives such as climate projects, healthcare in low-income countries, and the development of green bond markets. Additional UN agencies may join this partnership in the future.

(PRESS RELEASE) LUXEMBOURG, 19-Sep-2023 — /EuropaWire/ — The European Investment Bank (EIB), the lending arm of the European Union, announces that its has solidified its partnership with five United Nations agencies, including UNDP, WHO, FAO, UNOPS, and IOM, in a landmark agreement signed during the United Nations General Assembly. The deal empowers the EIB to directly fund technical assistance and advisory services provided by these UN entities. This collaboration streamlines efforts to support projects aligning with EIB financing, furthering the commitment of both organizations to the Sustainable Development Goals.

As projects outside the European Union often require specialized expertise and international standards compliance, partnering with UN agencies enables the EIB to tap into the UN’s global network and technical proficiency. Notably, UN agencies are trusted partners in fragile or conflict-affected regions.

This partnership builds upon previous successful collaborations between the EIB and UN agencies, such as supporting Ukraine’s social infrastructure and launching the Health Impact Investment Platform. The newly established agreement aims to bolster initiatives like the Global Green Bond Initiative, promoting green bond markets to finance climate and environmental projects. Additionally, it will bolster funding for small-scale projects in Ukraine and social initiatives in African nations like Malawi and Angola.

The EIB is actively exploring opportunities for UNICEF and other UN agencies to join this agreement in the future. EIB Global, the institution’s specialized arm, plays a pivotal role in enhancing international partnerships and development finance, working closely with Team Europe, fellow development finance institutions, and civil society to bring projects closer to local communities worldwide.

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SOURCE: European Investment Bank


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