First Blue Mediterranean Partnership investments unveiled as Spain pledges €8.5M to multi-donor sustainable blue economy fund
- Charting the path towards sustainable blue economy: the Mediterranean leading the way, a Union for the Mediterranean-led event on the region’s role in advancing the sustainable use of marine resources to promote socioeconomic development, took place today at the UNOC3 Mediterranean Day in Nice. Government officials, development agencies, regional networks, private sector actors, and civil society showcased innovative financing mechanisms, cutting-edge technologies and replicable initiatives.
- Spain formally signed an €8.5M contribution to the Blue Mediterranean Partnership (BMP), a multi-donor fund promoted by the UfM that mobilises investments in sustainable blue economy projects in the Southern Mediterranean and Red Sea areas. The first projects that will be developed as a result were revealed today: Morocco’s first offshore windfarm, the restoration of a coral ecosystem in Jordan and the development of a wastewater treatment facility in Egypt.
- The event highlighted priority areas for cooperation among the 43 UfM Member States, including maritime clusters, decarbonisation, marine biodiversity, blue jobs, renewable energy, sustainable tourism, pollution prevention, and circular economy enterprises. More than €500M euros have been mobilised for over 250 regional projects in these domains since the first UfM Ministerial Declaration on Sustainable Blue Economy in 2015.
10 June 2025, Nice. Charting the path towards sustainable blue economy: the Mediterranean leading the way, the Union for the Mediterranean’s session on finance and innovation as sustainable blue economy accelerators, took place today within the framework of the Mediterranean Day at the Third United Nations Oceans Conference in France.
Following opening remarks by EU Commissioner for Fisheries and Oceans Costas Kadis, Jordan’s Aqaba Special Economic Zone Authority Commissioner Aiman Soleiman, Spanish Minister for Ecological Transition Sara Aagesen, and UfM Secretary General Nasser Kamel, members of the Euro-Mediterranean sustainable blue economy community discussed the latest developments driving the region’s sustainable blue and green transitions forward.
Financing mechanisms in line with the priorities set out in the 2021 Ministerial Declaration on Sustainable Blue Economy were in the spotlight, evidence of the UfM’s growing role as a catalyser of investments in the region. With Spain formally pledging €8.5M today to the Blue Mediterranean Partnership (BMP), the country joins the ranks of donors including Sweden, Germany, France, and the European Union, bringing the fund’s total amount available for necessary technical assistance and project feasibility study grants to €22M. These help countries that may otherwise struggle to secure larger-scale loans from multilateral development banks and financial institutions, paving the way for the implementation of key sustainable blue economy initiatives. The first three projects that will be undertaken as a result of BMP investments were announced as follows:
- The Offshore Wind project near Essaouira, the first of its kind in Morocco, will have the potential to generate up to 1000 MW, with construction beginning by 2029.
- The Ayla Oasis Regeneration Project in Jordan’s Gulf of Aqaba will help restore a coral ecosystem and build a Thermal Energy Storage system. Coral cover should increase by 240% while the TES system is expected to reduce electrical power consumption by over 1,200,000 kWh annually in the coming years.
- The East Alexandria Wastewater Treatment and Sludge Management Plant, expected to become operational by 2028, will be able to treat 300,000 m3 of wastewater per day, safely managing sanitation for 1.5 million of the city’s inhabitants and reducing pollution in the area.
The event also focused on other Euro-Mediterranean sustainable blue economy priority areas such as maritime clusters, decarbonisation, blue jobs, renewable energies, sustainable tourism, or pollution prevention. As was brought to the fore during the session, the ongoing convergence of technical, financial and human resources has structured regional sustainable blue economy efforts, leading to successes ranging from CallMeBlue’s regional maritime clusters to Interreg EuroMED and NEXTMED-supported efforts to reduce marine litter or even specialised higher education programmes, among many others. All in all, more than €500M euros have been mobilised for over 250 regional projects in these domains since the first UfM Ministerial Declaration on Sustainable Blue Economy in 2015, making sustainable blue economy a cornerstone of Euro-Mediterranean cooperation and partnerships over the years.
“The Mediterranean sea plays a key role in setting the path towards a sustainable blue economy and can act as a model for other sea basins,” said EU Commissioner for Fisheries and Oceans Costas Kadis. “The Ocean Pact, just adopted by the Commission, underscores the importance of unlocking financial support from both private and public sources to boost investments in ocean related actions, supporting EU blue economy and innovation.”
“Since the inception of this initiative in 2015, the Sustainable Blue Economy has emerged as a transformative force for regional cooperation and partnership. It serves as a key to unlocking a wealth of environmental, social, and economic benefits across our basin. This is why the UNOC ‘Med Day’ provides an ideal platform to highlight our achievements and ongoing efforts,” said Aqaba Special Economic Zone Authority Commissioner Aiman Soleiman of Jordan.
“The Mediterranean Sea is not just a body of water—it’s a cradle of civilisation, a hub of biodiversity, and a vital source of livelihood for millions. The Mediterranean Sea shapes our past, present and future history, economy and identity,” said Spanish Minister for Ecological Transition Sara Aagesen.
“Our rich sustainable blue economy community undoubtedly serves as inspiration for other parts of the world,” said UfM Secretary General Nasser Kamel. “The UfM has played a pioneering role in establishing and strengthening the political and technical dialogue on Sustainable Blue Economy at regional level. The successful Euro-Mediterranean initiatives highlighted today should be celebrated; in the face of geopolitical unrest, sustainable blue economy is a force that unites us, despite our differences. We remain committed to using our position as a platform for the 43 UfM Member States and countless sectoral stakeholders to mobilise further investment in the region, fostering sustainable and equitable development.”
Additional resources
Towards a Sustainable Blue Economy in the Mediterranean region This flagship UfM report compiled with the support of Member States and stakeholders provides a regional overview of sustainable blue economy and describes trends and forecasts for each of the 10 priority areas in the 2021 UfM Ministerial Declaration on SBE.
2021 UfM Ministerial Declaration on Sustainable Blue Economy
