VN, UN, EU agree 2013 version of local cost norms
Representatives of the Vietnamese Government, the United Nations in Viet Nam and the Delegation of the European Union to Viet Nam agreed to the 2013 update on the UN - EU guidelines for financing of local costs in development cooperation with the country, better known as UN - EU Cost Norms.
Since its launch in 2009, the UN-EU Cost Norms have been recognized for many positive results achieved in during the course of harmonizing and reducing transaction costs for implementing partners.
The guidelines represent a tangible contribution to aid effectiveness agenda in line with Hanoi Core Statement and Vietnam Partnership Document on Aid Effectiveness and it is rightfully considered as an important tool to promote greater transparency and creating a basis for stronger alignment and harmonization between the Government, the UN and development partners.
It is expected that this updated version, with immediate effect, will bring the benchmark for alignment of donor and government cost norms closer to current market rates and conditions.
