CoAct Database

Blue Mediterranean Partnership

The Blue Mediterranean Partnership intends to create a new financial vehicle, pooling contributions from donors and beneficiary countries in the Southern Neighbourhood, to provide both capital expenditure and technical assistance grants for sustainable blue economy projects, that will help close an estimated €6 billion investment gap in the next 8 years.

The Blue Mediterranean Partnership is the partners’ response to the commitments made at EU level to fully integrate the blue economy into the Green Deal, the priorities outlined in the EU’s new Agenda for the Mediterranean, the Union for the Mediterranean ministerial declaration on sustainable blue economy and the UfM blue economy agenda as well as to the environmental challenges faced by the Mediterranean region. This partnership has received wide political support, including from the European Commission.

Summit/ Mobilisation process: UNFCCC COP27, Sharm el-Sheikh, Egypt (2022).