UNIDO and Vanuatu to strengthen partnership on innovative financing

Deputy Prime Minister Jotham Napat exchange Notes with the Director General of UNIDO, Li Yong at the LDC Ministerial meeting in Abu Dhabi

During the 8th Least Developed Countries’ Ministerial Conference organized together with the 18th Session of the UNIDO General Conference, Li Yong, the Director General of the United Nations Industrial Development Organization (UNIDO), and Jotham Napat Nauka, the Deputy Prime Minister of Vanuatu, decided to broaden and scale up UNIDO’s interventions in Vanuatu.

Both parties agreed that the ongoing UNIDO-Vanuatu Country Programme (2016-2020) supports the country in achieving the strategic goals set out by the Government and contributes to the economic transformation of Vanuatu from a predominantly rural and agriculture-based economy into an economy with a developed agro-based industry and an inclusive tourism sector.

The Director General and the Deputy Prime Minister stated their intention to broaden and scale up UNIDO’s intervention, including in innovative financing, building on the private sector infrastructure financing facility recently established under the Reserve Bank of Vanuatu. UNIDO and Vanuatu will explore opportunities to cooperate on the identification, design, and implementation of technical projects under the umbrella of the financing facility.

Director General Li also highlighted UNIDO’s SIDS strategy for the period 2019-2025, which serves as a guiding framework to steer results-based interventions and partnerships with SIDS and other development partners, including Vanuatu. The strategy aims to implement UNIDO’s commitments under the SAMOA Pathway, which include as priority areas sustainable, inclusive and equitable economic growth; sustainable energy; food safety and nutrition; and climate change.

The meeting concluded with an exchange of letters to seal the intention of both parties to strengthen their partnership and cooperation, in line with the UNIDO-Vanuatu Country Programme, UNIDO’s SIDS Strategy and the priorities of the Government.

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