IMF and EIB Strengthen Cooperation on Capacity Development

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The FINANCIAL — The European Investment Bank (EIB) and the International Monetary Fund (IMF) have signed a Memorandum of Understanding (MOU) that enables the two organizations to enhance their close cooperation in advancing the Sustainable Development Goals (SDGs) and in supporting capacity development and institution building.

IMF Deputy Managing Director Carla Grasso and Ambroise Fayolle, EIB Vice-President responsible for innovation, signed the agreement today in Lima, Peru on the margins of the IMF-World Bank Annual Meetings, according to IMF.

At the conclusion of the signing ceremony, Ms. Grasso made the following statement:

“This Memorandum of Understanding comes at a very important time, in the wake of the international conferences on Financing for Development in Addis Ababa in July and the Sustainable Development Goals in New York in September, and ahead of the follow-up international conference on climate change in Paris in December. I am very happy that today we are joining forces on advancing the Sustainable Development Goals (SDGs) and strengthening capacity development efforts in order to address global economic challenges in the context of the post-2015 development agenda.

“The EIB is looking forward to reinforcing the joint efforts toward sustainable economic development, financial stability, and inclusive growth. Partnerships are the key to the SDGs’ success and cooperation between IFIs in advancing the post-2015 agenda is critical. This new partnership with the IMF will benefit the membership of the two institutions by promoting synergies and leveraging financial resources for capacity development,”Mr. Fayolle emphasized.

 

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