Algeria
Egypt
Israel
Jordan
Lebanon
Libya
Morocco
Palestine *
Syria *
TunisiaEBRD, EIB and UfM to set up a new Blue Mediterranean Partnership
At the COP27 in Sharm el-Sheikh, the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) and the Union for the Mediterranean (UfM) announced the creation of the Blue Mediterranean Partnership, which aims to support the development of a sustainable blue economy in the European Union’s Southern Neighbourhood countries in the Mediterranean region.
The Blue Mediterranean Partnership is the partners’ response to the commitments made at EU level to fully integrate the blue economy into the Green Deal, the priorities outlined in the EU’s new Agenda for the Mediterranean, the Union for the Mediterranean ministerial declaration on sustainable blue economy and the UfM blue economy agenda as well as to the environmental challenges faced by the Mediterranean region. This partnership has received wide political support, including from the European Commission.
It aims to bring together international donors, beneficiary countries, interested financial institutions and philanthropies to support policy reforms, attract donor funding and mobilise public and private financing for projects initially in Egypt, Jordan and Morocco.
The Blue Mediterranean partnership will promote the Sustainable Blue Economy Finance Principles (SBEFP), the world’s first global guiding framework ensuring alignment of investments with the United Nations (UN) Sustainable Development Goal 14 ‘life below water’.
Countries covered:
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Egypt
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Jordan
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Morocco
