The United Nations Development Programme (UNDP) and the European Investment Fund (EIF) have signed a Memorandum of Understanding (MoU) that will boost cooperation between the two institutions. The MoU emphasizes the role small and medium size enterprises (SMEs) will play in achieving the Sustainable Development Goals (SDGs).
Through UNDP’s SDG Impact Finance initiative (UNSIF) and other efforts UNDP and the EIF will cooperate to support the SDGs and address global challenges such as international migration and refugees, by leveraging the private and philanthropic sectors, and utilizing a broad range of financial instruments.
“UNDP’s partnership with the European Investment Fund is an example of the type of innovative financing needed to achieve the Sustainable Development Goals. By investing in sustainable and inclusive business models, this partnership will help create decent work, reduce inequalities, and increase women’s empowerment in poor communities, helping to lift those communities out of poverty.
Cooperation will involve market research and studies, social impact and blended finance investments, and the provision of advisory services that will incentivise capital market investments in the SDGs.