19/07/2011 (Agence Europe) - Commission and Inter-American Development Bank support economic and social development in Latin America and the Caribbean. The European Commission and the Inter-American Development Bank (IDB) signed a framework agreement on Tuesday 19 July, aimed at extending their cooperation for economic and social development in Latin America and the Caribbean. This follows the memorandum of understanding (MoU) which was signed between President Moreno and European Commission President José Manuel Barroso on 19 December 2007. The MoU identified several areas of shared priority: social cohesion and poverty reduction, regional integration and trade development, renewable energies and energy efficiency, climate change, and collaboration on statistical information. The new agreement establishes the guidelines under which resources from the Commission will be administered by the IDB. (O.L./transl.jl)