The Deposit Fund participates in a meeting in Italy

Last Thursday, the general managers of the deposit funds in Morocco (Khalid Safir), France (Eric Lombar), Italy (Dario Scannapieco), and Tunisia (Najia Gharbi) held a meeting at the headquarters of the Italian Deposit and Loan Fund.

A press release received by Hespress stated that “as the Moroccan, French, Italian and Tunisian deposit funds are members of the Deposit Funds Forum, they maintain strong and rich relations built on mutual trust and respect, and based on common values ​​and principles.”

The same source added, “Thanks to this strong and constructive dialogue, and in light of the challenges facing the Euro-Mediterranean space, these funds have worked since the seventh conference of the Deposit Funds Forum in Abidjan in September 2023 to launch a dynamic aimed at strengthening joint cooperation,” stressing that “this is the first meeting “The meeting held in Rome at the level of general directors clearly reflects the common ambition aimed at identifying solutions that lead to collectively addressing the major challenges facing the Mediterranean region.”

The same communiqué invoked many and multifaceted challenges that directly affect the region, the most important of which is global warming, which is increasing faster than global warming at a rate of 20 percent. The unique marine and coastal biodiversity is exposed to significant threats to the region, in addition to coastal erosion, rising water levels, desertification, water stress, etc. All of these phenomena are actually widespread and are experienced by many countries.

In addition to these environmental challenges, the same source cited “problems related to the social, economic, and energy fields that have become more exacerbated in recent years due to the Covid-19 pandemic and the war in Ukraine,” stressing that “thanks to the pioneering role of deposit funds in confronting cyclical fluctuations and their firm commitment to serving the public interest.” It has accumulated rich experience in these fields, which enables it to provide innovative solutions at the national level.”

The meeting witnessed an exchange of views between the general directors on three main axes of common interest and compatible with the work priorities planned by each of these funds, the first of which is investment, where they reviewed the results achieved through the various initiatives taken with the aim of stimulating and encouraging investment in the Mediterranean region. Such as the Inframed initiative; They also focused extensively on the regional dimension involved in some investments made at the national level.

The second axis includes climate and biodiversity. In this regard, officials confirmed that their institutions actively participate in efforts aimed at protecting biodiversity, and stressed that thanks to the tripartite experience acquired by these funds in the environmental, real estate and financial fields, coupled with full knowledge of field affairs, they have become major bodies in innovating, developing and supporting solutions that It allows for the reconciliation of biodiversity and economic development, on a participatory approach that includes various local actors.

Regarding the third axis, related to financial innovation in the service of human capabilities, the Directors-General also indicated that human ties across the two shores of the Mediterranean are still very strong, and continue to strengthen this Mediterranean identity, which is the result of the mixing of populations over centuries. Therefore, it is important to directly involve the migrant community, businessmen and women, and academics who represent the living forces of the countries of the North and South in the search for solutions to the major challenges facing the region currently and in the future.

Following discussions conducted by the Directors-General, it was agreed to establish a “Permanent Framework for Consultation” (CPC) that provides a flexible and practical platform to engage in open debate and enables the exchange of information on best practices in key sectors, such as housing, adaptation to climate change, biodiversity protection and infrastructure development. Sustainable infrastructure, on the one hand, and promoting joint initiatives at the regional level, on the other.

The communication highlighted that the CPC will allow strengthening interaction and coordination with all actors in the Mediterranean financial system, whether it is national structures homologous to the deposit fund model or major players active in the field of finance in the Mediterranean region, such as the European Investment Bank (BEI) and the European Bank for Reconstruction. Development (BERD) and national development agencies, or various long-term investor networks, with a view to achieving the necessary synergies between various financial mechanisms.

The Directors-General also expressed their appreciation for the positive role and meaningful contribution of the Union for the Mediterranean (UpM) as a multilateral framework for cooperation in the Mediterranean region, actively participating in the comprehensive and sustainable economic development of the region.

Khalid Safir, Director General of the Moroccan Deposit and Management Fund, stressed the need to seize this opportunity to direct deposit funds towards the path of sustainable development, adding: “If we want to have a better world in the future, and beyond the declaration of principles, we in deposit funds must embrace ambitions.” New, and we are undoubtedly thinking about new ways of working; The new phase requires a new strategy. Our horizon must be to support all these transformations for the well-being of future generations.”

For his part, Eric Lombard, Director General of CDC France, said at the meeting: “I am pleased that climate and environmental issues are at the heart of discussions between Mediterranean depository institutions. To confront the unprecedented challenges facing the region, collective and determined action is necessary. This is the purpose of this meeting and our commitment with my Italian, Moroccan and Tunisian colleagues.”

As for Najia Gharbi, Director General of CDC Tunisia, she made a convincing statement at the meeting, stressing the need to direct actions towards the path of sustainable development, and stated that in order to build a better future, it is necessary to adopt new ambitions and rethink methods of work.

The same spokeswoman said: “Our horizon must be directed towards supporting the transformations necessary for the well-being of future generations and for our work to have an impact.” “As members of the Business Leaders Forum, we share this commitment to collective and determined action to address the multiple challenges facing our region.”

Given the multifaceted challenges facing the region, especially those related to climate change, the Directors-General of the Deposit Funds stressed their full engagement in continuing efforts to develop practical and innovative solutions that have an impact on the population and the protection of the environment. They also generally mentioned the importance of the “Deposit Fund” model. As an institution capable of mobilizing local resources to provide long-term financing for economic, social and environmental development projects.

In this context, the Directors-General reaffirmed their intention to contribute fully and effectively in various international forums to enhance the discussion on financing development and environmental and digital transformations, being aware of the pioneering role that deposit funds play as an effective financial tool to achieve these goals.