VDB and UNDP signed Memorandum of Understanding

04/10/2021 12:10

On 30 September, 2021, Memorandum of Understanding signed between Vietnam Development Bank and United Nations Development Programme (UNDP) becomes officially effective.

 Due to the complicated situation of the Covid-19 pandemic, the signing of Memorandum of Understanding between VDB and UNDP is carried out in the form of alternate signing with UNDP's representative, Mr. Terence D. Jones, Acting Resident Representative and VDB's representative, Mr. Dao Quang Truong, General Director.

Accordingly, VDB and UNDP aim to mobilize international funding sources including Green Climate Fund (GCF), Nationally Appropriate Mitigation Actions Facility (NAMA) and others to promote investment in the areas of sustainable development and climate change response.
The two parties will cooperate in exchange of information and priorities to define and select new project ideas in areas of sustainable development and climate change response; provision of professional experts to undertake relevant studies, analysis, and assessment for the formulation of project concept notes and/or project proposals; and joint organization of consultation workshops and conferences to discuss and define innovative solutions to enhance investment in climate change response and sustainable development.
The signing of Memorandum of Understanding between VDB and UNDP is of great importance for both parties in sharing similar missions and enhancing the effectiveness of development efforts, especially in the context VDB is officially accredited as National Implementing Entity of GCF on 01 July, 2021 while UNDP is one of the most successful organizations in accessing GCF’s fund in Vietnam with the 02 approved projects of approximately USD 60 million./.

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