Brussels, 18/01/2011 (Agence Europe) - Philippe de Fontaine Vive, Vice-President of the European Investment Bank (EIB), responsible for FEMIP and Ahmad Masa'deh, Secretary General of the Union for the Mediterranean (UfM), signed on Monday 17 January 2011 a cooperation memorandum of understanding (MoU) for establishing a close collaboration in the Mediterranean region in the areas of economic, social and sustainable development, in close link with the UfM's priorities. According to the EIB, the MoU has the aim of implementing a global and regional strategy of development in order to reinforce policy and business networks in the Mediterranean and to create a prosperous and sustainable Euro-Mediterranean region by further socio-economic development and private sector investments.
The MoU is based on six concrete and joint actions. These are: - the sharing of information in order to promote the implementation of the UfM priority projects. The two parties agree to closely collaborate in the exchange of information on projects, initiatives, events and studies, thus avoiding any possible overlapping; - the promotion of UfM projects in order to facilitate the financing and implementation of UfM priority projects. The parties agree to collaborate in order to facilitate the financing and implementation of such UfM projects identified and chosen by the UfM Secretariat (UfMS) and in accordance with its priorities. More specifically, and upon request from the UfMS, the EIB may provide support with regards to the processing of projects in the form of carrying out project analysis in view of their possible funding by financial institutions; - the promotion of a better understanding of the region: the UfMS and EIB agree to collaborate in the area of studies and research; recognising that an improved knowledge of the region's economic and financial characteristics would help them to better attune their policies to the UfM countries' needs and priority projects; - enhanced visibility and raised awareness about the UfM priority projects among stakeholders in the region including the media, via events, conferences and seminars; - networks building in order to implement their overall strategy. More specifically, the EIB will facilitate the liaison between the UfMS and the business community, notably chambers of commerce, professional associations, banking organizations, relevant think-tanks and NGOs. Reciprocally, the EIB could be associated in UfM specialised platforms and structured networks; - and the secondment of staff, the privileged relationship between the EIB and the UfM also being reflected by placing EIB experts within the secretariat.
Philippe de Fontaine Vive, states: “I am convinced that the close and fruitful collaboration between the EIB and the UfM Secretariat is the best efficient response to the actual challenges facing the Euro-Mediterranean region, such as economic and sustainable development, social cohesion and employment. This will support and speed up the implementation of Union for the Mediterranean priority priorities like the Mediterranean Solar Plan, the de-pollution of the Mediterranean, the Land and Sea Highways and the support of micro, small and medium size enterprises through the Multilateral Business Development Initiative.”
The EIB is the main financial partner of the Mediterranean region, with over €10 billion invested since 2002. Set up in 2002, the Facility for Euro-Mediterranean Investment and Partnership (FEMIP) is the EIB's financial arm in the Mediterranean region. Within the framework of the European Neighborhood Policy and the Union for the Mediterranean, its aim is to promote the economic and financial development of the Mediterranean partner countries. In October 2008, Euro-Mediterranean finance ministers in Luxembourg entrusted the EIB with providing support for three priority UfM initiatives. (Com-O.L./transl.jl)