The FINANCIAL — The European Bank for Reconstruction and Development (EBRD) and the European Commission (EC) have signed their first ever Framework Administrative Agreement that allows the two organisations to continue their close and fruitful cooperation.
EBRD Vice President Philippe Le Houerou and Neven Mimica, European Commissioner for International Cooperation and Development, signed the agreement in Brussels today.
The document sets the standard terms and conditions for all EC-EBRD Agreements. It provides a comprehensive framework to align EBRD-EC activities, to standardise procedures and bring our cooperation to a new level. The Framework Agreement provides the basis for future enhanced cooperation, funding arrangements and concrete common activities and projects between the two institutions, according to EBRD.
Vice President Le Houerou said: “This document is the cornerstone of our partnership with the EU. The EU is by far our biggest donor, and this agreement represents the deep commitment from both sides to increase our cooperation and our impact. Within this framework we will pursue our common goals of reenergising transition and changing people’s lives in the countries where we invest. From support to small and medium-sized enterprises, infrastructure development, climate change mitigation and energy efficiency, together we have the tools to achieve lasting change.”
Neven Mimica, European Commissioner for International Cooperation and Development said: “The EBRD is one of our key partners in Central Asia and the Neighbourhood and we are very pleased to strengthen even further our already excellent cooperation, to increase the use of innovative financial mechanisms and to support small and medium-sized enterprises. I am therefore delighted to sign this agreement which will facilitate cooperation between both organisations to achieve sustainable development in partner countries.”
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