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Vietnam, UN and EU agree to 2013 version of local cost norms

Representatives of Vietnamese Government, the United Nations in Vietnam and the Delegation of the European Union to Vietnam on December 9 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.
Representatives of Vietnamese Government, the United Nations inVietnam and the Delegation of the European Union to Vietnam on December 9agreed to the 2013 update on the UN - EU guidelines for financing oflocal costs in development cooperation with the country, better known asUN - EU Cost Norms.

The single set of standardizedrates in the UN - EU Cost Norms continues to be used by all nationalimplementing partners and other counterparts in Vietnam for thelocal costs of ODA programmes and projects funded by UN agencies and EUmember states’ missions in the country, according to a press release onDecember 9.

Since its launch in 2009, the UN-EUCost Norms have been recognized for the many positive results that havebeen achieved in terms of harmonizing and reducing transaction costs forimplementing partners.

The guidelines represent atangible contribution to aid effectiveness agenda in line with HanoiCore Statement and Vietnam Partnership Document on Aid Effectiveness andit is rightfully considered as an important tool to promote greatertransparency and creating a basis for stronger alignment andharmonization between Government, UN and development partners.

It is expected that this updated version, with immediate effect, willbring the benchmark for alignment of donor and government cost normscloser to current market rates and conditions.-VNA
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