Press Release: European Investment Bank and Inter-American Development Bank sign Memorandum of Understanding

Inter-American Development Bank (IDB) President, Luis Alberto Moreno, and European Investment Bank (EIB) Vice-president, Carlos Da Silva Costa, signed a Memorandum of Understanding on 30 November 2009 in Lisbon, on the margins of the 19th Ibero-American Summit.

The Memorandum of Understanding (MoU) concerns the coordination in the financing of projects of common interest to both International Financial Institutions and follows the one signed in December 2004, which is due to expire end of 2009. Projects of common interest are projects that contribute to the economic and social development of Latin America and the Caribbean and also meet other European Union objectives, namely to support EU presence through transfer of technology and know-how in Latin America and to contribute to environmental sustainability in Latin America and the Caribbean.