Signed at the EIB's delegation offices in Washington DC, the Memorandum of Understanding paves the way for more project partnerships between the two organizations, particularly in the context of emerging economies. Future collaboration will target ongoing challenges to sustainable development, including poverty, the effects of climate change, and developing the capacity of private-sector actors as positive contributors towards growth.

In the spirit of the newly adopted 2030 Agenda, which calls for the revitalization of global partnerships for sustainable development, this new agreement leverages the strengths and capacities of both the EIB and UNOPS.

EIB Vice President Pim van Ballekom said: "The EIB has a track record of investment in fragile economies and conflict areas. These places face the most significant humanitarian challenges, and need investment the most. We are aware of this and are proactive in our response."

He added: "This agreement offers a real opportunity for us to work together with UNOPS on a range of humanitarian and development projects. We share similar high standards when it comes to the social and environmental impacts of our projects. By working together, sharing knowledge, good practice and expertise, the EIB and UNOPS can catalyse further involvement in projects and enhance their credibility, for the benefit of populations that need it most. "

Grete Faremo, Under-Secretary-General and UNOPS Executive Director of UNOPS said: "The path to sustainable development to 2030 starts with an investment in good partnerships; those that build on respective strengths to ensure that projects are identified, designed and implemented to the highest standards. We share with the EIB a passion for helping people build better lives."

Together, the EIB and UNOPs share more than 80 years of experience in development contexts, often in some of the world's most challenging environments. Both organizations instil a strong emphasis on capacity development and local ownership.

Saturday's agreement comes as government officials, civil-society organizations, and key figures from the private and public sectors gather in Washington DC for the Spring Meetings of the IMF and the World Bank Group to discuss the key challenges of climate change, development and poverty eradication.

The EIB is active in 160 countries around the world. As a key player in the world of development finance, the EIB provides long-term financing for sound, sustainable investment projects in support of EU policy goals in Europe and beyond. The EIB is the largest multilateral lender and borrower in the world and is owned by the EU's 28 member states.

The EIB invests in four priority areas in support of growth and job creation: innovation and skills; access to finance; climate action and environment; and strategic infrastructure

The EIB is the world's largest financer of climate-related projects. Last year around 27% of all lending went towards climate action. The Bank is committed to raising the proportion of climate investment to 35% for developing countries by 2020, and placing a greater emphasis on helping regions in the frontline of climate change to adapt.