UfM Finance Ministers underline need for cooperation
Finance Ministers from the countries of the Union for the Mediterranean (UfM) have underlined the importance they attach to continuing cooperation involving all partner countries in the region to foster growth and economic integration. The ministers were attending a Euro-Mediterranean ECOFIN meeting in Brussels on July 7.
In their joint conclusions, Ministers welcomed the “forceful and
coordinated actions” taken in the region to stabilise the financial
sector and the stimulus measures to support economic growth in the wake
of the ongoing global economic and financial crisis. “Against this
background, Ministers shared the conviction that the Union for the
Mediterranean plays an important role in addressing the common
socioeconomic challenges facing the Euro-Mediterranean region,” the
conclusions said.
Ministers also welcomed the mobilisation of development
institutions, also emphasised at the last UfM Ministers’ meeting in
Paris on sustainable development, in order to facilitate access to
funding for projects. At that meeting, the conclusions said, the
European Investment Bank, the Agence Française de Développement and the
German KfW Bankengruppe announced a joint investment programme of €5
billion for renewable energy.
The Ministers took note of the launch of InfraMed, a long-term
investment fund set up at the end of April 2009 in Alexandria, which
will contribute to complement existing instruments such as the Facility
for Euro-Mediterranean Investment and Partnership (FEMIP), by investing
primarily in greenfield projects to build urban, energy and transport
infrastructure in the Southern and Eastern Mediterranean region.
The meeting also reviewed progress with the reform process,
described as “crucial in ensuring sustainable growth and [to] raise
growth potential as soon as the recovery takes hold”. Ministers
reaffirmed their continued commitment and full support to implementing
key structural reforms suited to each country to help their economies
to recover in the aftermath of the crisis.
Ministers agreed to meet again in 2010 in a place and on a date to
be determined by the cochairs of the next UfM ECOFIN ministerial
meeting.
UfM ECOFIN Ministerial Meeting – Joint Conclusions
ENPI Info Centre – FEMIP steps up action to help Mediterranean through crisis
External Relations – The Euro-Mediterranean Partnership
Contact information | n/a |
---|---|
News type | Inbrief |
File link |
http://www.enpi-info.eu/mainmed.php?id_type=1&id=19021&lang_id=450 |
Source of information | ENPI Info Centre |
Keyword(s) | ENPI, Union for the Mediterranean, Mediterranean-Union |
Subject(s) | ENERGY , FINANCE-ECONOMY , INFRASTRUCTURES , NATURAL MEDIUM , POLICY-WATER POLICY AND WATER MANAGEMENT , PREVENTION AND NUISANCES POLLUTION |
Relation | http://www.semide.net/initiatives/mediterranean-union |
Geographical coverage | Euromed |
News date | 08/07/2009 |
Working language(s) | ENGLISH , FRENCH |
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