UfM Member States endorse a region-wide urban development initiative over a virtual meeting

• The Member States of the Union for the Mediterranean (UfM) held a virtual meeting to exchange on the upcoming activities of the organization, especially within the current context, and in the framework of the 25^th anniversary of the Barcelona Process.
• The UfM Senior Officials endorsed a regional initiative to accelerate innovative sustainable urban development projects, thereby contributing to a post pandemic recovery which is also respectful of the environment.
  

Barcelona, 18 June 2020. The Member States of the UfM met virtually today at the level of Senior Officials from the Ministries of Foreign Affairs. They endorsed a new regional initiative to support sustainable urban development projects in the Southern and Eastern Mediterranean countries, and discussed the preparations of the 25^th anniversary of the Barcelona Process.

 Coinciding with a time of great disruption for the region, UfM Senior Officials highlighted that this unprecedented juncture requires more than ever regional cooperation, multilateralism and concerted solutions. “We do need to enhance ‎complementarities between institutions bound to the Barcelona Process’ values and objectives, build on their best synergies and empower them to create greater knowledge and cooperation between the two shores of the Mediterranean”, said UfM Secretary General, Nasser Kamel. ‎
 

A regional urban projects finance initiative  

The initiative “UPFI-ERI: Urban Projects Finance Initiative – Economic Resilience Initiative” supports sustainable urban development projects in the Southern and Eastern Mediterranean countries by providing project promoters with a grant for technical assistance on project preparation to subsequently secure access to international funding. Recognizing the magnitude of the new challenges, the initiative aims at accelerating the implementation of such urban projects by enabling them to become bankable to the standards of the European Investment Bank and other European financial institutions.

The European Investment Bank is the lead promoter in partnership with the French Development Agency (AFD), the Union for the Mediterranean (UfM) and the European Union (EU).

The endorsement of this project represents an important and concrete step ahead as environmental disasters and climate change are increasing the pressure on countries to improve resources and infrastructures for economic and urban sustainability and resilience. In light of the current global pandemic, to boost economic resilience, infrastructure (water, social, commercial, etc.) must be upgraded enabling notably the private sector to grow and create more jobs and opportunities.
 

More information

UfM Senior Officials

The Member States of the Union for the Mediterranean meet on a regular basis at the level of Senior Officials from the Ministries of Foreign Affairs of the 43 countries. The Senior Officials Meetings (SOM) oversee and coordinate the work of the UfM. They approve the budget and the work programme of the Secretariat. They also discuss the project proposals submitted by the Secretariat for approval and endorsement. UfM Senior Officials take decisions by consensus.

• UPFI initiative
• Union for the Mediterranean and COVID-19 Activity
• 25^th Anniversary of the Barcelona Process
• UfM Infographic