UNIDO and National Financial Institutions
UNIDO has concluded agreements with national and local development banks and financial institutions.
Bank of Industry, Nigeria
The Bank of Industry is Nigeria’s largest development bank and invests in small and medium sized enterprises that contribute to the processing of local raw materials and generate employment, particularly among women.
The Director-General of UNIDO, Mr. Kandeh Yumkella, and the CEO/Managing Director of Bank of Industry, Nigeria, Ms. E. N. Oputu, signed a Memorandum of Understanding in Vienna on 10 July 2008. Partnership is being explored in the areas of textile, rice and oil palm industries.
Link to Bank of Industry, Nigeria webste: www.boinigeria.com
Kuwait Finance House
Kuwait Finance House is a leading provider of Islamic commercial investment banking services. It provides a wide range of Islamic Shari'a compliant products and services, covering banking, real estate, trade finance, investment portfolios, and other products and services.
A Memorandum of Understanding was concluded between UNIDO and Kuwait Finance House in 2009, in view of strengthening cooperation in the areas of establishment of an effective financing mechanism to promote clean technologies, development of science and technology parks, as well as support of the UN Green Industry Initiative.
Link to Kuwait Finance House website: www.kfh.com/en/
Ecobank
Ecobank Transnational Incorporated is a leading pan-African banking group, operating in thirty countries across West, Central, East and Southern Africa.
UNIDO and Ecobank concluded a Memorandum of Understanding in Abuja, Nigeria on 10 March 2010 in view of promoting economic growth in Africa through sustainable and industrial development. The partnership will focus on agribusiness and agro-industry, including food, leather, textiles, wood, agro-machinery; on renewable energy, including bio-energy initiatives, on hydro power projects, and other environmentally sustainable projects; as well as on clean technologies.
The partners will also support technical assistance to ensure economic growth and development of the private sector and small and medium enterprises, including those that benefit women and youth entrepreneurship. They will explore the possibility for establishing industrial, technology, and agro-industrial parks or zones as vehicles for technology transfer and industrial development, as well as possibilities for channeling African Diaspora remittances into investment in industrial development and entrepreneurial activities.
UNIDO and Ecobank also agreed to look at setting up a Fund and teaming up to mobilize capital from both public and private sectors to invest in agri-business and small and medium business development in Africa and support different projects in the field. UNIDO would provide technical assistance, while Ecobank would provide financial services for the implementation of such projects to ensure economic growth and development of the private sector and small and medium enterprises, including those that benefit women and youth entrepreneurship.
They will also discuss potential joint projects and activities in the area of technology and knowledge transfer, trade and investment promotion within the UNIDO South-South cooperation framework.
Link to Ecobank website: www.ecobank.com