Valletta, Malta, March 11, 2016 --(PR.com
)-- Mediterranean Bank Network (MBN) and The Association of the Mediterranean Chambers of Commerce and Industry (ASCAME) have signed a Memorandum of Understanding (MoU) on the 3rd March 2016 so as to promote the cooperation between the financial sector and the chambers of commerce and companies of the Mediterranean region.
The Memorandum of Understanding signed by Marika Huber, Managing Director of the MBN, and Anwar Zibaoui, Coordinator of ASCAME aims to promote investments in the Mediterranean region, as well as funding for SMEs and start-ups. Both parties agreed to closely collaborate in identifying projects, organizing events and initiatives focused on the collaboration between banks, businesses and chambers of commerce, and the creation of lines of financing support for SMEs, start-ups, entrepreneurs and women entrepreneurs.
The parties also agreed on the need to create a Bank for development in the Mediterranean, covered by the Declaration 20 + 20, a set of 20 economic initiatives launched by ASCAME last November, to which the MBN is associated. The eventual regional financial entity would be in line with other entities such as the Interamerican Development Bank (IDB), the Asian Development Bank (ADB) and the African Development Bank, but with the incorporation of the private sector and funds from other multilateral entities engaged in the region.
The Memorandum of Understanding held yesterday is an important step towards an effective cooperation between two key associations in the region: ASCAME, as the regional organization representing the private sector in the Mediterranean, bringing together more than 300 chambers of commerce and industry and millions of companies from 23 countries; and the MBN, the interregional network of private banks created in 1996 to promote trade and business relations.
The two regional associations join forces to boost business relations between the Mediterranean countries and with the rest of the world, as well as the competitiveness of enterprises and the Mediterranean region.