IMO and EBRD partner up for sustainable shipping

The MoU was signed by Kitack Lim, IMO Secretary-General Phil Bennett, First Vice President of the EBRD The MoU was signed by Kitack Lim, IMO Secretary-General Phil Bennett, First Vice President of the EBRD

IMO and the European Bank for Reconstruction and Development (EBRD) are partnering up to help promote sustainable shipping in the first such arrangement the body has had with a multilateral development bank.

The partnership will enable IMO to draw upon the expertise of EBRD which has experience in supporting comprehensive transport related development activities and practices in the maritime and port sectors.

"This strategic partnership, combining IMO's global mandate and outreach and EBRD's experience and expertise on investment and finance, is expected to contribute a great deal to sustainable maritime transport and the implementation of the United Nations Sustainable Development Goals," said Kitack Lim, Secretary-General IMO.

Sustainable transport

The IMO said that the reality is that most of the elements of the 2030 Agenda for Sustainable Development and the associated SDGs will only be realised with a sustainable transport sector supporting world trade and facilitating the global economy.

In addition to providing investment financing, IMO and EBRD will work together under the agreement to provide technical advisory services, project preparation and planning, capacity building and institutional development, focusing initially on joint projects with the national authorities of Azerbaijan, Egypt, Georgia, Morocco, Tunisia and Turkey.

Gap analysis will be carried out with specific projects likely to focus on a range of safety- and environment-related issues, centred on implementing and enforcing IMO regulations.

These projects could include investment opportunities in sustainable transport, looking at opportunities to improve ships in terms of reducing air pollution and greenhouse gas emissions and assessing emissions in ports and developing emission-reduction strategies.