The slow progress made by some countries and regions in poverty eradication and sustainable development underscores the need for the UN system to give renewed emphasis to enhancing policy coherence and operational coordination in support of accelerated economic development. Under the auspice of CEB/HLCP, work is underway on a UNIDO initiative to elaborate an MDG-based common agenda for collaborative work among organizations of the UN system working in the field of economic development.

An inter-agency task force has been established and is now engaged in identifying priority areas for collaboration, developing a result-oriented and time-bound work plan, and setting up a consultative process to fully harness the capacities and comparative advantages of the organizations of the system in support of accelerated economic development, focusing in particular on Africa and the least developed countries