World Bank European Commission Framework Agreement
The World Bank and the European Commission have signed a new framework agreement that seeks to strengthen their partnership and collaborative efforts to support sustainable development around the world.
The agreement was signed in Brussels by European Commissioner for International Cooperation and Development, Neven Mimica, and World Bank Group Vice President for Europe and Central Asia, Cyril Muller.
Under the framework agreement, the two organizations will work together to improve the effectiveness of their development programs, enhance their cooperation on global challenges such as climate change, and foster closer ties between the European Union and developing countries.
The agreement also aims to enhance the use of innovative financing mechanisms such as blended finance, which combines public and private sector resources to mobilize greater resources for development.
In addition, the World Bank and the European Commission will work together on a range of issues related to sustainable development, including governance, human rights, gender equality, and social protection.
The signing of the framework agreement comes at a critical time for global development efforts, as the world faces a range of complex challenges such as climate change, rising inequality, and political instability.
By working together, the World Bank and the European Commission can leverage their unique strengths and resources to make a greater impact and achieve a more sustainable future for all.
As the global community works to implement the Sustainable Development Goals (SDGs), this partnership between two of the world`s leading development organizations demonstrates the importance of collaboration and cooperation in achieving shared goals and building a better future for all.
