IDB, EU Sign Agreement on Latin American, Caribbean Development

By: - April 23rd, 2013

Above: Fort de France, Martinique (CJ Photo)

By the Caribbean Journal staff

The Inter-American Development Bank and the European Union have signed a Memorandum of Understanding aimed at enhancing cooperation to improve development in Latin America and the Caribbean.

The Agreement was signed by IDB President Luis Alberto Moreno, European Union Commissioner for Development Andris Piebalgs and Olli Rehn, vice president of the Commission.

The two sides said they would explore “potential synergies and collaboration opportunities” in areas like green energy, climate change and security, along with private sector development and financial management.

The memorandum follows a pact signed between the IDB and the EU in 2007.

That agreement sought to ensure the effective use of development cooperation budgets in the region.

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