UfM renews cooperation with the European Investment Bank (EIB) in support of Mediterranean regional projects

Barcelona, 11 April, 2014. UfM Secretary General Sijilmassi and EIB Vice-President Philippe de Fontaine Vive, in charge of the Facility for the Euro-Mediterranean Investment and Partnership (FEMIP), signed a renewed collaboration agreement with the aim to ensure the continuity of the close collaboration already established between both institutions. The Memorandum of Understanding will contribute to the implementation of a global and regional development strategy that will reinforce policy and business networks in the Southern and Eastern Mediterranean countries and create a prosperous region by fostering socio-economic development and private sector investment.

Acknowledging the importance of an improved knowledge of the region’s economic and financial environment to better identify the needs of the UfM countries and the related priority projects, both organisations will collaborate in the area of studies and research, thus promoting a better understanding of the region.

The UfM Secretariat and the EIB both agree to closely collaborate in the exchange of information on projects, initiatives, events and studies, thus avoiding any possible overlapping and reinforcing complementarity and synergies. Both institutions will continue working together to facilitate the financing and implementation of projects.

With the aim to continue building a strong network of stakeholders that allow both organisations to implement their overall strategy, the EIB will facilitate the liaison between the UfM and the business community, notably chambers of commerce, professional associations, banking organizations, think-tanks and NGOs. Reciprocally, the EIB will be associated in UfM specialised platforms and structured networks. Enhanced visibility and awareness about the UfM priority projects will be secured among key players in the Euro-Mediterranean region via joint events, conferences and seminars.

The close relationship between the UfM Secretariat and the EIB is also reflected in the secondment of EIB experts within the Secretariat.