UNOPS S3I

Description What is done in the programme or project and why, what results are pursued, who benefits from the activities and who are involved in the implementation.

The UN Office for Project Services, UNOPS, provides project management, infrastructure and procurement services in development, humanitarian and peacekeeping areas. UNOPS also provides administrative and operational services to many programs and projects under the UN system. UNOPS builds development-friendly infrastructure in developing countries, provides procurement expertise to developing countries, and manages projects and programs while enhancing developing countries' own project management capabilities. Cooperation between Finland and UNOPS intensified significantly during 2019. Earlier in 2019, Finland responded positively to the UNOPS inquiry about Finland's interest in hosting the UNOPS Sustainable Infrastructure Impact Investments (S3I) program. Already at this stage, Finland also expressed its readiness for the necessary financial commitment in its capacity as the host country. Following negotiations, Finland and UNOPS signed the host country agreement on 12 August 2019, which entered into force on 19 January 2020. The Helsinki S3I Program Office officially began its work on 1.3.2020 and its operations will be significantly expanded in the future. In addition to the S3I program, the UNOPS Global Innovation and Technology Program will move to Finland. The UN estimates that achieving the Sustainable Development Goals will require investments of around $ 4,000 billion annually in developing countries. ODA can only cover a fraction of the amount. With $ 2,500 billion in new investment needed each year, it will inevitably also require private capital. This requires innovative financing solutions. The UNOPS impact investment program has established itself as an important vehicle for channeling private investments to developing countries; at the same time, it helps meet critical national needs for affordable housing and renewable energy. The S3I is playing an increasingly important role in financing the UN's Sustainable Development Goals. Through S3I, UNOPS has so far committed to e.g. building more than 860,000 homes in Kenya, Ghana, India, Pakistan and the Caribbean. In doing so, the program will have a tangible positive impact on the lives of ordinary people, while providing hundreds of thousands of local jobs and supporting a sustainable local economy. The program contributes in many ways to sustainable development objectives.