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UNIDO, Finland sign €3.6m deal to promote circular economy in developing countries
LI Yong, Director General of the United Nations Industrial Development Organization (UNIDO), and Pirkko Hämäläinen, Ambassador of Finland to Austria and Permanent Representative to UNIDO, have signed an agreement to foster partnerships aiming to harness the potential of developing countries in the natural resources and circular economy sectors by enabling well-functioning, inclusive and sustainable value chains and business models.
The “UNIDO-Finland Partnerships for Developing the Natural Resources Sector and Circular Economy in Developing Countries” agreement has a duration of three years and a budget of €3.6m.
This agreement follows two other milestone agreements signed in 2014 and 2018 through which Finland provided a total of €6.75m for implementing activities in the areas of trade capacity-building, food security through agribusiness and agro-industry, as well as the creation of green employment through sustainable forest utilization and management.
Finland’s Ambassador Hämäläinen explained, “The cooperation with UNIDO shows that Finland is committed to supporting the economic development of developing countries in an environmentally sustainable and climate change-mitigating manner. The circular economy is a topical solution to this very challenge and Finland was the first country in the world to draw up its own circular economy action plan five years ago. Finland is also strengthening cooperation with UNIDO for better gender equality and the improved status of women.”
UNIDO’s Li added, “We greatly appreciate Finland’s continuous support for UNIDO and for inclusive and sustainable industrial development and better gender equality in partner countries, and this agreement represents an important step in the further strengthening of the exemplary cooperation between Finland and UNIDO.”
The three projects funded under this agreement converge by working towards three key policy objectives of Finland’s development cooperation: strengthening the status and rights of women and girls; strengthening the economic base of developing countries and creating jobs; and climate change-mitigation and natural resources. The objectives are interconnected and capture lessons learned that will permit synergies and offer opportunities to strengthen the effectiveness of the planned interventions.
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