Working towards better integration in the Mediterranean Financial Area
Tuesday 00 0000 from 00:00 to 00:00 in
Eric Diamantis, Michel Gonnet, Abderrahmane Hadj Nacer, Radhi Meddeb.
Eric Diamantis, Michel Gonnet, Abderrahmane Hadj Nacer, Radhi Meddeb.
waste treatment and urban transport), € 20 billion for logistics (ports, airports and highways), and €20 billion for supporting company development to contribute to the 50 million jobs that SEMCs need to create before 2020.
Funds from current stakeholders taken together, i.e. South and East Mediterranean countries, local banks, multilateral institutions for funding development and private stakeholders, are insufficient to cover these needs. Investment remains low in the region and private investment even more so, particularly when it comes to investing in infrastructure for the long term, which is perceived as too risky for the profitability expected. Gross fixed capital formation
(public and private investments) related to gross domestic product is below 25% in the Middle East and North Africa (MENA), compared to 40% for East Asia and the Pacific. Savings available locally are currently rarely mobilized by standard financial systems, because the region is characterized by low intermediation rates and limited development of its financial markets.