ESM, EIB Sign Mou To Deepen Cooperation

2025-01-24 07:06:27

(MENAFN- Trend News Agency) BAKU, Azerbaijan, January 24. The European Stability Mechanism (ESM) and the European Investment Bank (EIB) have signed a Memorandum of Understanding (MoU) to deepen their partnership and enhance cooperation, Trend reports.

This agreement builds on a longstanding relationship that began in 2010 with the establishment of the European Financial Stability Facility (EFSF).

“The MoU marks a new chapter in our collaboration, reinforcing our shared mission to support economic resilience and growth in Europe,” stated ESM Managing Director Pierre Gramegna. EIB Group President Nadia Calviño echoed this sentiment, emphasizing the significance of formalizing their partnership to further Europe's economic security and prosperity.

The MoU outlines key areas of collaboration, including strategic dialogue, joint events, and staff exchanges. Signed for an initial five-year period, it aims to foster closer cooperation between the two Luxembourg-based institutions, leveraging their complementary strengths to address Europe's economic challenges.

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