PAM-EIB MoU signed in Monaco – “New form of integration in the Mediterranean required” – EIB Vice-President

The Parliamentary Assembly of the Mediterranean (PAM) and the European Investment Bank (EIB) have signed a Memorandum of Understanding (MoU), on 4th February 2015, on the occasion of the 9th PAM Plenary Session held in the Principality of Monaco between 2-4 February 2015. The Agreement was signed by PAM Secretary General, Ambassador Sergio Piazzi and EIB Vice-President, Mr. Philippe de Fontaine-Vive.

The purpose of the MoU, signed in the presence of the President of the National Council of Monaco, H.E. Laurent Nouvion, and the Heads of PAM National delegations, is to set out a framework for cooperation between the PAM and the EIB. They intend to explore ways in which they can cooperate in implementing their respective mandates, including consultations, joint research and analytical studies, meetings, events, exchanges of information, and other common activities, in support of economic integration, creation of employment and social development in the Mediterranean region.

PAM Secretary General, Amb. Sergio Piazzi underlined the importance of this new end eavour for the Assembly, especially in its economic and social dimensions. “PAM will continue also to encourage South-South integration and cooperation for further economic development and security”, PAM Secretary General said.

On his part, EIB Vice-President, Mr. Philippe de Fontaine-Vive expressed the need to reinvent a new form of integration in the Mediterranean, calling at the same time for the modernization of structures and economic policies, and the need for States to regain full employment to achieve a solid democratic foundation.

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