A joint group of North African and European countries in April announced the launch of a long-term investment fund called InfraMed, that is the first financing facility of the Union for the Mediterranean (UFM). Equipped with a joint commitment of $543 million, InfraMed will be an equity investor in projects to build urban, energy and transport infrastructure in the Southern and Eastern Mediterranean regions. The fund will be open to other long-term investors in Europe, the Middle East and North Africa (MENA), with the aim of doubling its assets in the coming months. Other countries in the region are expected to adhere to the fund, French Ambassador to Tunisia Serge Deagaillaix said at a regional economic forum. InfraMed will invest in infrastructure projects compliant with “social and environmental responsibility criteria enshrined in the United Nation sponsored Principles for Responsible Investment and the principles set forth in the Long-Term Investors Club
