A memorandum was signed on Tuesday by the United Nations Development Programme and the European Bank for Reconstruction and Development to increase and sustain growth to improve the quality of life in central and eastern Europe.
The partnership aims to improve multiple issues affecting growth, specifically strengthening democratic governance, local economic development and gender equality among others.
“UNDP is pleased to sign this (memorandum of understanding) which brings the expertise and solutions of UNDP and EBRD together in support of sustainable development process,” UNDP Administrator Helen Clark said. “By working together with EBRD, we can promote innovative partnerships and solutions which can create jobs, promote SME growth, tackle corruption and support transparent, accountable and efficient government."
Representatives for the bank are pleased to agree to increased cooperation between the two organizations, both sharing a focus of local development. The bank said that in addition to finance it is beginning to work with issues such as governance and inclusion.