ISID requires larger resources and inputs than any individual entity can provide. The new UNIDO partnership approach aims to mobilize external partners and additional resources in order to extend the impact of UNIDO’s technical cooperation and accelerate ISID in Member States.
To establish nationwide ISID momentum and increase overall impact, a number of interventions are required. These range from upgrading infrastructure such as roads and energy utilities, to policies and strategies aimed at fostering market access, employment generation and foreign direct investment. Technology and skills upgrading programmes are also needed to ensure adequate and equitable wage levels and benefits, in addition to interventions addressing environmental sustainability. Financing such a comprehensive and complex industrial development process requires the mobilization and merging of significant public and private capital.
The partnership approach calls for collective actions and catalyzes local and international development partners to provide the necessary support, knowledge and financial resources needed for ISID. Aside from its technical cooperation activities, UNIDO's role is to bring the various actors together and coordinate partnership activities – under the leadership and ownership of the host government – to build a solid foundation for sustainable economic growth.
Through partnerships with governments, development finance institutions (DFIs), UN agencies, multilateral and bilateral development agencies, civil society and the private sector, UNIDO will have a much larger impact on the ground. The Organization's technical expertise can be applied according to priorities set by governments of recipient countries, who will also benefit from additional resources leveraged from financial institutions and private industry.
The prospect of mutual benefits is a strong incentive for the development of partnerships between UNIDO and DFIs. Such institutions can utilize the Organization’s technical competence to screen project portfolios and assess proposed interventions to address ISID challenges. In turn, UNIDO can complement its technical cooperation services with parallel flows of financial resources for higher ISID impact.
Technology and skills upgrading programmes are also needed to ensure adequate and equitable wage levels and benefits, in addition to interventions addressing environmental sustainability. Financing such a comprehensive and complex industrial development process requires the mobilization and merging of significant public and private capital.
Achieving ISID goals requires long-term commitments. Strategic partnerships will expand the impact of UNIDO's work well beyond the short-term grant-funded capacity-building assistance traditionally provided by the Organization.
By integrating its delivery of technical assistance with the resources of DFIs and private industry, UNIDO will be in a much better position to support its Member States in the pursuit of their ISID objectives. Moreover, middle- and high-income countries also benefit through investment opportunities in local value chains and access to new markets, creating a win-win scenario for all partners.