EIB Pledges Support for Mediterranean Region

    The European Investment Bank and the Union for the Mediterranean, or UfM, have signed a memorandum of understanding that seeks to improve their cooperation for the economic, social and sustainable development of the Mediterranean region.

    The memorandum is expected to help implement a regional and global strategy for developing the region and promoting more private sector investments and socio-economic initiatives in the Euro-Mediterranean area.

    The document includes six joint actions, including sharing information on key projects, events and studies; promoting UfM projects in order to attract more financial support for the bloc’s priority initiatives; promoting a better understanding of the Euro-Mediterranean region; enhancing the visibility of priority UfM projects; improving links between the UfM secretariat and the region’s business community; and placing EIB experts within the UfM secretariat.

    About the author

    • Ivy Mungcal

      As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.