Mediterranean Project To Overcome Financing Challenges approved

Posted: 2012-07-20

Senior Officials from the 43 country members of the Union for the Mediterranean (UfM) recently approved a project entitled "Overcoming governance challenges to the mobilisation of financing for the Mediterranean water sector", aimed to identify and provide solutions to the lack of basic elements for a sound governance framework for the mobilisation of financing for the water sector in many Mediterranean countries, including absorption capacity at both national and local levels.

Lebanon, Tunisia, Jordan, Albania and Palestine are participating in the first phase of this project with an overall budget of €2 million. The project has the financial support of the European Investment Bank. The promoters and the UfM Secretariat will mobilise other donors for the remaining financing needs.

The project, to run over three years, is promoted jointly by the Organisation for Economic Cooperation and Development (OECD) and the Global Water Partnership Mediterranean (GWP-Med), and will build on earlier work jointly carried out by the GWP Mediterranean and the OECD in Egypt (completed), Lebanon (completed) and Tunisia (in progress).

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