European Commission supports new Mediterranean Partnership: initially in Jordan , Egypt and Morocco
The European Bank for Reconstruction and Development (EBRD), the European Investment (EIB) and the Union for the Mediterranean (UfM) announced on Tuesday at the COP27 in Sharm el-Sheikh the creation of the Blue Mediterranean Partnership, which aims to support the transition to a sustainable blue economy in the European Union’s Southern Neighbourhood countries in the Mediterranean region. This partnership, which will be accompanied by a new financial vehicle to accelerate investment in the blue economy for the Mediterranean, has received a wide political support, including from the European Commission.
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.
The partnership 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. Egyptian Minister of Environment Yasmin Fouad underlined the critical importance of the sustainable blue economy for the future development of Egypt, and the full alignment of the Blue Mediterranean Partnership with Egypt’s new National Climate Change Strategy 2050. Likewise Jordan expressed hopes that the Partnership would increase financing opportunities alongside the policy reforms, with a focus on protecting water ecosystems and resources.
“We are raising the bar on our collective ambitions of governments, civil society, research and the private sectors” said UfM Secretary General Nasser Kamel to ensure that maritime activities are sustainable, innovative and job-creation oriented and address the main challenges of our times.“
Likewise, EIB President Werner Hoyer committed the institute to promote 'a sustainable blue economy and investments preserving the health of our oceans and seas' as a way of tackling environmental challenges and maintaining economic prosperity in the Mediterranean region, and pointed at partnerships like the Blue Mediterranean to accelerate tangible blue economy projects.
The Mediterranean Sea basin is a recognised marine biodiversity hotspot and a vital resource of economic activities for 480 million people living in the region’s 22 countries. It is the fifth largest economy in the region after France, Italy, Spain and Turkey, generating an annual economic value of more than US$ 450 billion. However, the Mediterranean Sea’s ecosystem is under threat from habitat loss and degradation, over-fishing, pollution and climate change. EBRD President Odile Renaud-Basso remarked, in this respect: “The Mediterranean has been the cradle in which our societies have been born and flourished. It is source of life, wealth and prosperity, therefore its protection is of major relevance to all of us. This Blue Mediterranean Partnership is a call for action from our partner countries and the European Commission. Sustainable development and environmental protection are at the core of the EBRD’s mandate, and we have experience in delivering impact through environmental partnerships. We look forward to joining forces to clean and preserve the Mare Nostrum, Our Sea”.
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’.
Achieving these goals, the Partnership aims at supporting and attracting investments in the sustainable blue economy and policy reforms, prioritising innovation and including where possible, natural capital and nature-based solutions for climate mitigation and adaptation. Financing of wastewater treatment facilities, solid waste management and plastic waste reduction, will help reduce pollution going to the sea, decrease pressure on fisheries through sustainable aquaculture, improve coastal resilience investments, and reduce emissions through sustainable marine mobility.
The Blue Mediterranean partnership intends to create a new financial vehicle, pooling contributions from donors and beneficiary countries in the Southern Neighbourhood, to provide both capital expenditure and technical assistance grants for sustainable blue economy projects, that will help close an estimated €6 billion investment gap in the next 8 years.
The European Bank for Reconstruction and Development (EBRD), the European Investment (EIB) and the Union for the Mediterranean (UfM) announced on Tuesday at the COP27 in Sharm el-Sheikh the creation of the Blue Mediterranean Partnership, which aims to support the transition to a sustainable blue economy in the European Union’s Southern Neighbourhood countries in the Mediterranean region. This partnership, which will be accompanied by a new financial vehicle to accelerate investment in the blue economy for the Mediterranean, has received a wide political support, including from the European Commission.
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.
The partnership 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. Egyptian Minister of Environment Yasmin Fouad underlined the critical importance of the sustainable blue economy for the future development of Egypt, and the full alignment of the Blue Mediterranean Partnership with Egypt’s new National Climate Change Strategy 2050. Likewise Jordan expressed hopes that the Partnership would increase financing opportunities alongside the policy reforms, with a focus on protecting water ecosystems and resources.
“We are raising the bar on our collective ambitions of governments, civil society, research and the private sectors” said UfM Secretary General Nasser Kamel to ensure that maritime activities are sustainable, innovative and job-creation oriented and address the main challenges of our times.“
Likewise, EIB President Werner Hoyer committed the institute to promote 'a sustainable blue economy and investments preserving the health of our oceans and seas' as a way of tackling environmental challenges and maintaining economic prosperity in the Mediterranean region, and pointed at partnerships like the Blue Mediterranean to accelerate tangible blue economy projects.
The Mediterranean Sea basin is a recognised marine biodiversity hotspot and a vital resource of economic activities for 480 million people living in the region’s 22 countries. It is the fifth largest economy in the region after France, Italy, Spain and Turkey, generating an annual economic value of more than US$ 450 billion. However, the Mediterranean Sea’s ecosystem is under threat from habitat loss and degradation, over-fishing, pollution and climate change. EBRD President Odile Renaud-Basso remarked, in this respect: “The Mediterranean has been the cradle in which our societies have been born and flourished. It is source of life, wealth and prosperity, therefore its protection is of major relevance to all of us. This Blue Mediterranean Partnership is a call for action from our partner countries and the European Commission. Sustainable development and environmental protection are at the core of the EBRD’s mandate, and we have experience in delivering impact through environmental partnerships. We look forward to joining forces to clean and preserve the Mare Nostrum, Our Sea”.
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’.
Achieving these goals, the Partnership aims at supporting and attracting investments in the sustainable blue economy and policy reforms, prioritising innovation and including where possible, natural capital and nature-based solutions for climate mitigation and adaptation. Financing of wastewater treatment facilities, solid waste management and plastic waste reduction, will help reduce pollution going to the sea, decrease pressure on fisheries through sustainable aquaculture, improve coastal resilience investments, and reduce emissions through sustainable marine mobility.
The Blue Mediterranean partnership intends to create a new financial vehicle, pooling contributions from donors and beneficiary countries in the Southern Neighbourhood, to provide both capital expenditure and technical assistance grants for sustainable blue economy projects, that will help close an estimated €6 billion investment gap in the next 8 years.
The European Bank for Reconstruction and Development (EBRD), the European Investment (EIB) and the Union for the Mediterranean (UfM) announced on Tuesday at the COP27 in Sharm el-Sheikh the creation of the Blue Mediterranean Partnership, which aims to support the transition to a sustainable blue economy in the European Union’s Southern Neighbourhood countries in the Mediterranean region. This partnership, which will be accompanied by a new financial vehicle to accelerate investment in the blue economy for the Mediterranean, has received a wide political support, including from the European Commission.
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.
The partnership 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. Egyptian Minister of Environment Yasmin Fouad underlined the critical importance of the sustainable blue economy for the future development of Egypt, and the full alignment of the Blue Mediterranean Partnership with Egypt’s new National Climate Change Strategy 2050. Likewise Jordan expressed hopes that the Partnership would increase financing opportunities alongside the policy reforms, with a focus on protecting water ecosystems and resources.
“We are raising the bar on our collective ambitions of governments, civil society, research and the private sectors” said UfM Secretary General Nasser Kamel to ensure that maritime activities are sustainable, innovative and job-creation oriented and address the main challenges of our times.“
Likewise, EIB President Werner Hoyer committed the institute to promote 'a sustainable blue economy and investments preserving the health of our oceans and seas' as a way of tackling environmental challenges and maintaining economic prosperity in the Mediterranean region, and pointed at partnerships like the Blue Mediterranean to accelerate tangible blue economy projects.
The Mediterranean Sea basin is a recognised marine biodiversity hotspot and a vital resource of economic activities for 480 million people living in the region’s 22 countries. It is the fifth largest economy in the region after France, Italy, Spain and Turkey, generating an annual economic value of more than US$ 450 billion. However, the Mediterranean Sea’s ecosystem is under threat from habitat loss and degradation, over-fishing, pollution and climate change. EBRD President Odile Renaud-Basso remarked, in this respect: “The Mediterranean has been the cradle in which our societies have been born and flourished. It is source of life, wealth and prosperity, therefore its protection is of major relevance to all of us. This Blue Mediterranean Partnership is a call for action from our partner countries and the European Commission. Sustainable development and environmental protection are at the core of the EBRD’s mandate, and we have experience in delivering impact through environmental partnerships. We look forward to joining forces to clean and preserve the Mare Nostrum, Our Sea”.
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’.
Achieving these goals, the Partnership aims at supporting and attracting investments in the sustainable blue economy and policy reforms, prioritising innovation and including where possible, natural capital and nature-based solutions for climate mitigation and adaptation. Financing of wastewater treatment facilities, solid waste management and plastic waste reduction, will help reduce pollution going to the sea, decrease pressure on fisheries through sustainable aquaculture, improve coastal resilience investments, and reduce emissions through sustainable marine mobility.
The Blue Mediterranean partnership intends to create a new financial vehicle, pooling contributions from donors and beneficiary countries in the Southern Neighbourhood, to provide both capital expenditure and technical assistance grants for sustainable blue economy projects, that will help close an estimated €6 billion investment gap in the next 8 years.
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European Commission supports new Mediterranean Partnership: initially in Jordan , Egypt and Morocco
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