WTO, EIB sign agreement to boost trade, investment

The partnership will leverage the EIB's financial resources and investment facilitation tools developed under the Investment Facilitation for Development Agreement concluded by 128 WTO members to improve the regulatory environment, unlock investment and expand opportunities for developing countries.

The MoU was signed by WTO Director General Ngozi Okonjo-Iweala and EIB Group president Nadia Calvino on the sidelines of the EIB Group Forum, held in Luxembourg recently.

A central element of the agreement is the EIB-WTO Trade and Investment Facilitation Initiative, which will support cooperation in strengthening regulatory reforms, investment planning and project preparation to bolster trade and investment in developing countries.

The two institutions will work together to assist developing countries in assessing their needs, and to develop operational action plans identifying specific reforms needed to unlock investment.

EIB funding, as well as blended finance instruments, including private capital participation, may be mobilised to support investment projects.

Initially, in a pilot phase, the initiative will focus on selected countries in Africa and on critical sectors with the aim of unlocking investment aligned with the EIB Global's priorities, including green and digital transition, health, education and training, sustainable growth and decent job creation.

Both sides will also work together on analytical and research activities, exchanging insights on global investment and trade trends to inform policy and operational decisions.

Fibre2Fashion News Desk (DS)