Viet Nam, UN and EU agree on guidelines to finance local costs in development projects

Monday, Dec 09, 2013 16:58

HA NOI (VNS) — Representatives of the Vietnamese Government, the UN and the EU in Viet Nam agreed on Monday to the updated UN - EU Guidelines for financing local costs in development cooperation, better known as the UN - EU Cost Norms.

The single set of standardised rates in the Cost Norms continues to be used by all national implementing partners and other counterparts in Viet Nam for the local costs of ODA programmes and projects funded by UN agencies and EU member states.

Since its launch in 2009, the Cost Norm have achieved positive results in reducing transaction costs.

The guidelines represent are in line with the Ha Noi Core Statement and Viet Nam Partnership Document on Aid Effectiveness and are considered an important tool to promote greater transparency and a basis for stronger alignment and harmonisation between Government, the UN and development partners.

The agreement, signed by Deputy Minister of Planning and Investment Nguyen The Phuong, UN Resident Coordinator Pratibha Mehta, and the head of the European Union Delegation, Ambassador Franz Jessen, endorsed the use of the UN Guidelines for the Cost Norms.

It is expected that this updated version will better align donor and government cost norms to current market rates and conditions.

The market-oriented rates are to attract high-quality human resources, services and encourage full collaboration, yet are flexible enough to accommodate different business models and project requirements.

The rates will be reviewed periodically to reflect changes in market prices.

The guidelines address remuneration for project staff, consultant rates, translation services, travel and meeting costs, and other related project expenses.

Work plans of on-going projects will also be revised to accommodate the new costs, subject to current financial-year budget availability, according to a press release from the UN Communication Office in Ha Noi. — VNS

Comments (1)

Bạn Hương Giang tay nghề cao, giỏi. Công an Khánh Hòa cũng giỏi. Các bạn làm tốt lắm, dân mừng.

Quach Nga - Wednesday, 08/07/2015, 11:36 Reply | Like