By MAIMBOLWA MULIKELELA in Lima, PERU –
THE European Investment Bank (EIB) and the International Monetary Fund (IMF) have signed a Memorandum of Understanding (MoU) to strength cooperation on capacity development.
The two organisations will enhance their close cooperation in advancing Sustainable Development Goals (SDGs) and in supporting the capacity development and institution building.
IMF deputy managing director Carla Grasso and EIB vice-president in charge of innovation Ambroise Fayolle signed the agreement yesterday in Lima, Peru, on the margins of the IMF-World Bank annual meeting.
The meeting brings together central bankers, ministers of Finance, heads of Development Finance Institution (DFIs) and private sector stakeholders to discuss current issues that are of relevance to the world economy, financial stability and economic development.
The meeting this year runs from October 9 to 11.
Ms Grasso said his organisation was happy to join forces with EIB on advancing the Sustainable Development Goals.
“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 (yesterday) we are joining forces on advancing the Sustainable Development Goals and strengthening capacity development efforts in order to address global economic challenges in the context of the post-2015 development agenda,” Ms Grasso said.
At the same function, Mr Fayolle said his bank was looking forward to reinforcing the joint efforts towards sustainable economic development, financial stability and inclusive growth.
“Partnerships are the key to the SDGs’ success and cooperation between International Financial Institutions (IFIs) in advancing the post-2015 agenda is critical,” he said.