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Blue Mediterranean Partnership steps up support for sustainable blue economy

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3 years ago

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COP28

EIB, EBRD, UfM, EC, AFD, CDP, KfW, donors and beneficiary countries sign cooperation agreement at COP28

DUBAI, United Arab Emirates, December 4, 2023/APO Group/ — 

Blue Mediterranean Partnership to support transition to a sustainable blue economy in the Mediterranean region; Partnership to start operating in early 2024; Partners aim to mobilise at least €1 billion in investments.

At COP28 (www.COP28.com), partners and donors involved in the Blue Mediterranean Partnership reinforced their support for developing the sustainable blue economy in the southern Mediterranean region. The parties involved signed a letter of intent to make their participation in the Partnership official and to make the Partnership operational in early 2024.

The Blue Mediterranean Partnership aims to tackle the threats the Mediterranean Sea faces by coordinating the financing of blue economy projects in the Mediterranean and Red Sea regions, focusing initially on Egypt (https://apo-opa.co/416K9nn), Jordan (https://apo-opa.co/3NbnBMt) and Morocco (https://apo-opa.co/47I3y0n).

Through a new multi-donor fund managed by the European Bank for Reconstruction and Development (EBRD) (https://apo-opa.co/3GoLLQ5), the Blue Mediterranean Partnership seeks to secure additional funding from sovereign donors for project preparation and blended finance. Today in Dubai, the European Commission (https://apo-opa.co/3Tfr4Od) announced a contribution of €1 million, the Swedish International Development Cooperation Agency (Sida) (https://www.Sida.se) contributed SEK 75 million (€6.5 million), and the Agence Française de Développement (AFD) (https://www.AFD) announced a  €2 million contribution. In the coming months, Germany (https://apo-opa.co/47JM1oS) and Spain (https://apo-opa.co/47ESvoF) are also expected to announce donations, with additional donors to follow.

The European Investment Bank (EIB) (https://www.EIB.org), AFD, Kreditanstalt für Wiederaufbau (KfW) (https://apo-opa.co/3N9Cwqs), Cassa Depositi e Prestiti (CDP) (https://apo-opa.co/3uGI5q5) and the EBRD – will act as implementing financial institutions and cooperate to co-finance blue economy projects, which will benefit from the grants provided by the Partnership, mobilising also existing financial resources provided by the European Commission through the Neighbourhood Investment Platform (https://apo-opa.co/47XK0F9) and the European Fund for Sustainable Development Plus (EFSD+) (https://apo-opa.co/3T6mKR1).

The Mediterranean region has tremendous potential to spur economic growth if it is protected and developed sustainably

Lastly, the beneficiary countries (Egypt, Jordan and Morocco) will lead on identifying strategic blue economy projects in their territories, while the Union for the Mediterranean (UfM) (https://UFMSecretariat.org) will act as facilitator of the political and regulatory dialogue.

EBRD President Odile Renaud-Basso said: “The Mediterranean region has tremendous potential to spur economic growth if it is protected and developed sustainably. The EBRD is proud to have been entrusted to act as fund manager of the Blue Mediterranean Partnership, and our objective is now to deliver concrete results. Sustainable development and environmental protection are at the core of the EBRD’s mandate, and we will share our experience in delivering impact through environmental partnerships. None of this would be possible without the support of our donors and partners. Only by working together can we tackle challenges for the benefit of millions of people in the region.”

EIB Vice-President Ambroise Fayolle said: “It is great news that the Blue Mediterranean Partnership is ready to start operations. The initiative is an excellent example of our commitment to restoring ocean health and fostering biodiversity and the climate resilience of Mediterranean coastal areas. Supporting the wellbeing of coastal communities and investing in the sustainable blue economy makes sense economically and is also vital in tackling global challenges like food security, nature protection and climate change.”

UfM Secretary General Nasser Kamel said: “The Mediterranean region, with its beautiful coastlines and diverse ecosystems, is particularly vulnerable to rising sea levels, water scarcity and extreme weather events. The signing of the Blue Mediterranean Partnership is a significant milestone that reflects our shared commitment to working together, pooling resources and achieving success in addressing the climate emergency in the Mediterranean.” 

European Commissioner for Environment, Oceans and Fisheries Virginijus Sinkevičius said: “We are putting the sustainable blue economy at the top of the agenda in the broader Mediterranean region. We believe this Partnership can contribute to the prosperous future of the Mediterranean countries, so that our seas can keep providing for future generations.”

Sida Director-General Jakob Granit said: “Enabling infrastructure investment in wastewater treatment, marine renewable energy and sustainable shipping that protects marine resources and creates much-needed jobs is directly in line with Sweden’s development priorities for the MENA region. Sida’s support to the Blue Mediterranean Partnership will contribute to regional economic integration and it will be an important vehicle for mobilizing climate finance to vulnerable coastal areas.”

AFD CEO Rémy Rioux said: “The Mediterranean Sea is a cradle of civilization, but also a symbol of the pressures resulting from urbanization, overexploitation, and global warming. We have a common responsibility to do more for its protection and act in a more coordinated way, with the right financial tools, and at the right scale. This is why partnerships like the BMP are so important. AFD’s contribution to the BMP is also one of the examples of France strong commitment to push an action agenda for the oceans towards the UN Ocean Conference (UNOC) organized in Nice in 2025.”

Distributed by APO Group on behalf of European Investment Bank (EIB).

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Energy

Cornerstone Valve Joins Angola Oil & Gas (AOG) 2026 as Associate Sponsor Amid Angola’s Upstream Expansion

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23 minutes ago

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July 2, 2026

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As Angola accelerates upstream, LNG and refining projects, demand is rising for critical flow control solutions that improve reliability, safety and operational efficiency across the energy value chain

LUANDA, Angola, July 1, 2026/APO Group/ –As Angola advances a new phase of oil and gas growth, demand is increasing for the infrastructure and equipment that keep large-scale hydrocarbon projects operating safely and efficiently. From upstream production and gas processing to refining and storage, flow control systems play a central role in maintaining operational integrity, minimizing downtime and supporting long-term asset performance. In this environment, specialized engineering companies such as Cornerstone Valve are becoming increasingly important partners in Angola’s expanding oil and gas market.

Cornerstone Valve has joined the Angola Oil & Gas (AOG) Conference & Exhibition 2026 as an Associate Sponsor, reinforcing its commitment to supporting Angola’s fast-growing oil and gas sector. The event takes place on September 9–10 in Luanda, with a pre-conference day scheduled for September 8, bringing together regulators, operators, service providers and investors to drive partnerships and investment across the industry.

Cornerstone Valve specializes in valve automation, actuation and flow control solutions, providing products and services that support complex industrial operations across the oil and gas value chain. The company’s portfolio includes automated valve packages, control systems and engineered solutions designed to enhance safety, improve system efficiency and optimize asset reliability in demanding operating environments.

The company’s participation at AOG 2026 comes at a pivotal time for Angola’s oil and gas sector. The country is pursuing an ambitious strategy to sustain crude production above one million barrels per day while expanding natural gas monetization and downstream capacity. Major upstream developments, including deepwater projects, brownfield optimization campaigns and frontier exploration, are creating new opportunities for technology providers capable of supporting high-performance operations.

As Angola’s premier oil and gas event, AOG 2026 serves as a strategic platform for companies to engage with decision-makers, showcase solutions and strengthen commercial partnerships. Cornerstone Valve’s sponsorship underscores the growing role of engineering and technology providers in supporting Angola’s next phase of oil and gas development.

Distributed by APO Group on behalf of Energy Capital & Power.

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Business

ICIEC Highlights De-Risking as a Driver of Regional Trade and Investment at Islamic Development Bank (IsDB) Group Private Sector Forum 2026

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25 minutes ago

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July 2, 2026

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Held at the Baku Convention Center, the session brought together senior representatives from Azerbaijani public and private sector stakeholders, export credit agencies, multilateral development banks, commercial banks, insurers, investors, government entities, State-Owned Enterprises, and business leaders

BAKU, Azerbaijan, July 1, 2026/APO Group/ —

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (www.ICIEC.IsDB.org), a Shariah-based multilateral credit and political risk insurer and member of the Islamic Development Bank Group, convened a high-level panel discussion titled “De-Risking Trade & Investment for Regional Prosperity” on the sidelines of the IsDB Group Private Sector Forum 2026 in Baku.

 

Held at the Baku Convention Center, the session brought together senior representatives from Azerbaijani public and private sector stakeholders, export credit agencies, multilateral development banks, commercial banks, insurers, investors, government entities, State-Owned Enterprises, and business leaders.

ICIEC’s Shariah-compliant solutions help governments, financial institutions, and investors move from ambition to implementation and execution

The discussion focused on how risk mitigation can unlock private capital, strengthen investor confidence, and support regional integration across Azerbaijan, ICIEC Member States, and the broader OIC region, in alignment with the Annual Meetings theme, “Regional Integration for Sustainable Prosperity”. Convened in Baku, the session explored how political risk insurance, trade credit insurance, and credit enhancement solutions can help transform opportunities in infrastructure, energy, logistics, ICT, manufacturing, and trade into bankable projects, while supporting Azerbaijan’s expanding role as a regional gateway for investment, connectivity, export-oriented growth, and wider OIC market integration.

The event featured keynote remarks by Mr. Yusif Abdullayev, Executive Director of the Export and Investment Promotion Agency of the Republic of Azerbaijan (AZPROMO), who highlighted Azerbaijan’s growing role as a regional hub for trade, investment, and connectivity.

The panel featured Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC; Mr. Yuichiro Akita, President of the Berne Union; Mr. Sujithav Sarangi, Executive Director, Development and Agency Finance Team, Standard Chartered; and Mr. John Lentaigne, Global Head of Structured Credit and Political Risks, Specialist Risk Group. The discussion was moderated by Mr. Elnur Aliyev, Advisor to the Chairman, KOBIA Azerbaijan.

Speaking during the session, Dr. Khalid Khalafalla said: “Regional prosperity can only deliver its full development impact when trade and investment opportunities are supported by confidence, bankability, and effective risk mitigants. ICIEC’s Shariah-compliant solutions help governments, financial institutions, and investors move from ambition to implementation and execution. Through strong partnerships with public and private sector institutions, ICIEC is helping mobilise capital for strategic sectors, reduce perceived and actual risks, and support sustainable growth across Member States and beyond.”

The discussion underscored that Regional Prosperity requires more than connectivity and project pipelines. It requires a coordinated ecosystem in which governments, financial institutions, insurers, investors, and development partners work together to manage risk, mobilise finance, and deliver tangible development outcomes. The session reinforced ICIEC’s role as a catalyst for trade, investment, and sustainable development through Shariah-compliant risk mitigation solutions, partnership-building, and support for investment-ready projects across Member States.

Distributed by APO Group on behalf of Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).

 

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Events

The 6th Cross-Strait Sun Yat-sen Forum Successfully Held in Zhongshan, Guangdong

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17 hours ago

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July 1, 2026

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ZHONGSHAN, CHINA – Media OutReach Newswire – 1 July 2026 – As 2026 marks the 160th anniversary of the birth of Dr. Sun Yat-sen, the 6th Cross-Strait Sun Yat-sen Forum was held in Zhongshan, Guangdong Province—the hometown of the great pioneer—from June 27 to 29 under the theme “Carrying Forward Dr. Sun Yat-sen’s Spirit of Endeavor and Working Together for the Great Rejuvenation of the Chinese Nation”. This year’s forum was the largest in its history, attracting the broadest participation from Taiwan compatriots and the highest proportion of young participants to date. Around 2,000 representatives from across the Chinese mainland, Taiwan, Hong Kong, and Macao attended the event. Centered on cultural heritage and driven by economic and trade cooperation, the forum established a multi-level platform for cross-strait exchanges and collaboration while fostering broader consensus on integrated cross-strait development.

Distinguished guests from both sides of the Taiwan Strait attended the opening ceremony and noted in their remarks that Dr. Sun Yat-sen is a revered national pioneer shared by compatriots on both sides of the Strait. His vision of rejuvenating China remains a common spiritual legacy, and people across the Strait should carry forward his ideals and work hand in hand toward national rejuvenation. During the opening ceremony, Zhongshan Municipal People’s Government and the Association of Taiwan Investment Enterprises on the Mainland signed the Strategic Framework Agreement on Deepening Zhongshan-Taiwan Economic and Trade Cooperation to Promote Integrated Development, laying a solid institutional foundation for long-term industrial cooperation across the Strait.

A series of cultural exchange activities also took place throughout the forum. Participants enjoyed an evening tour of the century-old Sunwen West Road Arcade Pedestrian Street, immersing themselves in Zhongshan’s rich historical heritage and the vibrant cultural and tourism scene of the Guangdong-Hong Kong-Macao Greater Bay Area. They also visited the Museum of Dr. Sun Yat-sen, where they studied revolutionary historical archives, bowed before Dr. Sun’s bronze statue to pay homage, and gained a deeper appreciation of his enduring ideals of “All Under Heaven Belong to the People” and “Revitalize China”. Many participants remarked that these activities provided an excellent platform for sustained exchanges among young people across the Strait and that their shared cultural roots and common heritage form a solid foundation for advancing cross-strait spiritual integration.

To further strengthen cross-strait economic cooperation and advance industrial integration between Shenzhen and Zhongshan, the forum also featured the “Taiwan Businesses Gather in Zhongshan, Industries Glow in the Greater Bay Area” 2026 Guangdong-Taiwan Economic and Trade Exchange Conference and Investment Promotion Event Celebrating the Second Anniversary of the Shenzhen-Zhongshan Link. A total of 19 industrial projects were signed during the event. The first group comprised seven Taiwan-invested projects spanning semiconductor supporting industries, electronic components, smart home products, high-end fitness equipment, and medical devices. The second and third groups included 12 Shenzhen-Zhongshan collaborative projects covering new energy vehicle components, industrial robotics, memory chip packaging, advanced specialty materials, and integrated cultural, tourism, and commercial developments.

During the investment promotion event, Taiwan business representatives spoke highly of Zhongshan’s business environment. Zhang Congyuan, Chairman of Huali Industrial Group, which has operated in Zhongshan for more than two decades, praised the city’s enterprise service philosophy of “staying out of businesses’ way when everything runs smoothly while providing prompt support whenever needed”. He noted that this business-friendly environment has helped the company grow into one of the world’s leading manufacturers of athletic footwear.

Guo Wenhai, secretary of the CPC Zhongshan Municipal Committee, extended a sincere invitation to Taiwan businesses and entrepreneurs to invest and establish operations in Zhongshan. He emphasized that the city offers not only strong industrial infrastructure but also high-quality government services. Zhongshan will continue to provide proactive, efficient, and dedicated support for businesses while continuously improving both its hard and soft investment environment. Leveraging the opportunities created by the Shenzhen-Zhongshan Link, the city aims to create broader prospects for cooperation and shared growth for enterprises from both sides of the Taiwan Strait.

Participants and Taiwan business representatives agreed that, taking the 160th anniversary of Dr. Sun Yat-sen’s birth as an important milestone, this year’s forum created new channels for both cultural exchanges and industrial cooperation across the Strait. Looking ahead, Zhongshan will continue to organize regular initiatives, including entrepreneurship support programs for young people from Taiwan, youth exchange activities, and Guangdong-Taiwan industrial matchmaking events. By carrying forward Dr. Sun Yat-sen’s spirit, embracing the opportunities of the Greater Bay Area, and strengthening both economic cooperation and people-to-people ties, the city will continue to contribute to a new chapter of integrated cross-strait development.

 

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