The European Commission, the European Investment Bank and the International Maritime Organization launched on 22 March a study under the Facility for Euro-Mediterranean Investment and Partnership (FEMIP) on maritime cooperation in the Mediterranean. The study will address key issues for promoting the maritime sector in the Mediterranean by identifying and disseminating best practices major axes.

This initiative aims to achieve an optimal combination between the European Commission action, the European Investment Bank (EIB) long-term financing and International Maritime Organization (IMO) involvement, as well as the participation of the private sector, leading to promising developments in the Mediterranean. The three organizations have decided to strengthen their cooperation and join their expertise in a common initiative which aims at improving the integration of maritime policies and the dissemination of investment best practices in the Mediterranean.

The first step of this innovative project is the launching of a feasibility study under the Facility for Euro-Mediterranean Investment and Partnership (FEMIP). As the first of its kind, the study will address key issues for promoting the maritime sector in the Mediterranean by identifying and disseminating best practices on three major axes of key relevance: Social aspects, maritime surveillance and safety, and investment in maritime infrastructure.

"Blue growth" and "blue jobs" in the Mediterranean, social aspects of partnership

The maritime sectors in the Mediterranean may stay sustainable only if there are enough adequately trained and skilled workers. "Blue growth" and "blue jobs" in the Mediterranean thus depend on progress on two main fronts. First, careers in seafaring and fishing need to remain attractive. Also, standards for qualifications and training need to meet international and European requirements.

Surveillance and safety in the Mediterranean

The Mediterranean is an important transit corridor for shipping, with 30% of the world's seaborne trade channelled through it, including 20% of the world's seaborne oil traffic. This intense shipping activity heightens the risk of accidental pollution and, possibly, illicit discharges, so there is a high need for integrated surveillance of maritime activities and operations, alongside illicit activities such as illegal immigration and drug trafficking. The project intends to provide elements that will facilitate the development of the integrated maritime surveillance in the Mediterranean.

Improving maritime infrastructure

The European Investment Bank has extensive experience in funding port infrastructure and will thus provide critical expertise for the study on how to improve financing options and attract private sector finance in the transport sector. The work prepared under and Safemed 1 and the MEDA project for the funding of port reception facilities will also be used as a basis for analysis. For the Bank, this programme will help designing a common way forward for the cooperation of the three institutions regarding new solutions and mechanisms for better use of financial mechanisms available.