UfM Member States endorse a new project to facilitate access to finance to MSMEs in the Mediterranean

June 16, 2022
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The Member States of the Union for the Mediterranean (UfM) met at the level of Senior Officials from the Ministries of Foreign Affairs for their second meeting of 2022 to exchange on the activities of the organisation during the second semester of the year.

They debriefed on the latest UfM Ministerial Meeting on Employment and Labour, held in Marrakech on 17-18 May, and commended the launch of the regional Team Europe Initiative “Jobs through trade and investment” in the Southern Neighbourhood that will contribute with around €2.8 billion to the implementation of the New Agenda for the Mediterranean and its Economic and Investment Plan. They also welcomed the launch of the UfM Hub for Good Jobs, Trade and Investment Promotion, financed by Germany and Spain with a budget of €11 million, which will promote employment opportunities, finance projects on the ground and provide technical assistance to UfM countries to promote South-South trade and sustainable investment in the region.

Member states endorsed a new regional project, EuroMediterranean Guarantee Network (EMGN), to support access to finance to Micro, small and medium-sized enterprises (MSMEs) in the Euro-Mediterranean Region. The project aims at facilitating access to finance by gathering guarantee schemes around four closely related actions: training, research and development, advocacy and communication and knowledge sharing.

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Press release

Countries covered:

  • Algeria
  • Egypt
  • Israel
  • Jordan
  • Lebanon
  • Libya
  • Morocco
  • Palestine *
  • Syria *
  • Tunisia