EBRD to lead the IFI coordination platform of the Deauville partnership in 2014

By Nibal Zgheib

The European Bank for Reconstruction and Development (EBRD) will host the Secretariat of the Deauville Partnership IFI (International Financial Institution) Coordination Platform from January 2014 for one year, taking over from the Islamic Development Bank.

 

As a G8-led initiative, responsibility for leading the Deauville Partnership (DP) rotates with the G8 chairmanship. In its capacity as host of the IFI Coordination Platform, the EBRD will work closely with Russia, which assumed the G8 chairmanship from 1 January 2014.

 

The IFI Coordination Platform brings together the major IFIs active in the Middle East and North Africa (MENA) region. It includes the African Development Bank, the Arab Fund for Economic and Social Development, the Arab Monetary Fund, the EBRD, the European Investment Bank, the International Finance Corporation, the International Monetary Fund, the Islamic Development Bank, the OPEC Fund for International Development and the World Bank, as well as the Organisation for Economic Cooperation and Development. 

 

The IFI Coordination Platform aims to promote policy dialogue initiatives and joint investment projects in the Arab transition countries.

 

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The Deauville Partnership with Arab countries in Transition was created at the G8 Summit in May 2011 in France. It aims to support democratic transition, transparent governance and inclusive growth in the Arab countries in transition – Egypt, Jordan, Libya, Morocco, Tunisia, and Yemen.

 

The MENA Transition Fund, launched under the US G8 Presidency, is one of the important achievements of the DP. The Fund supports reform-oriented projects with a view to promoting better governance, sustainable growth and better employment opportunities for women and youth.