The Union for the Mediterranean launched a new regional infrastructure development fund at its meeting in Alexandria on 30 April

The union aims to raise more than €1bn ($1.3bn) in equity capital for its Inframed Fund. The fund is led by France's Caisse de Depots, Italy's Cassa depositi e prestiti, Morocco's Caisse de Depot et de Gestion, and Cairo-based investment bank EFG-Hermes. The four institutions have already committed €400m.

The fund is also likely to co-operate with other partners from the Gulf.

The new structure represents a regional framework for public-private-partnerships which would aid the development of infrastructure across the region.

It will participate in financing energy efficiency, transportation, environmental and urban development projects.

Contact information	n/a
News type	n/a
File link	http://www.meed.com/news/2009/04/mediterranean_union_launches_13bn_infrastructure_fund.html
Source of information	MEED
Keyword(s)	Union for the Mediterranean
Subject(s)	ENERGY , FINANCE-ECONOMY , INFRASTRUCTURES , NATURAL MEDIUM
Geographical coverage	Euromed, Egypt, Morocco, France, Italy
News date	01/05/2009
Working language(s)	ENGLISH

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