The General Directors of the Caisses de Dépôts of Morocco, Khalid Safir, of France, Eric Lombard, of Italy, Dario Scannapiecco, and of Tunisia, Nejia Gharbi, met this Thursday, May 2 at the headquarters of Cassa Depositi e Prestiti in Rome, thus reaffirming their common ambition to identify solutions to collectively face the challenges facing the Mediterranean basin.
They thus established the creation of a permanent consultation framework (CPC) promoting on the one hand the sharing of good practices and expertise between the Funds, and on the other hand, interactions with the Mediterranean financial ecosystem to promote the implementation of concrete projects with a direct impact on populations.
Members of the Caisses de Dépôt Forum, the Moroccan, French, Italian and Tunisian Caisses maintain relations
historical and rich based on trust, sharing and mutual respect.
Building on this dialogue and aware of the challenges inherent to the Euro-Mediterranean area, these four institutions initiated a dynamic aimed at further strengthening their cooperation during the 7th conference of the Forum des Caisses de Dépôt in Abidjan, in September 2023.
This first meeting in Rome thus reflects the common ambition of the four managers of the Caisses to develop collective solutions to the major challenges facing the Mediterranean basin.
The region is indeed faced with multiple challenges, first and foremost global warming characterized by increasing temperatures.
20% faster than the global average. The marine and coastal biodiversity of the Mediterranean, unique in the world, is in serious danger. Coastal erosion, rising sea levels, desertification, water stress… So many phenomena which are already realities for many countries in the region. Added to these environmental challenges are social, economic and energy problems exacerbated in recent years by the COVID-19 pandemic and the war in Ukraine. On all these subjects, the Caisses de Dépôt, leading countercyclical players, committed to the general interest, have developed real expertise by deploying innovative solutions on a national scale.
Faced with this observation, discussions between the General Directors focused on three key themes which correspond to the action priorities of each of the Funds:
- Investment. As responsible investors and catalysts for private sector investments, the managers of the funds took stock of various initiatives carried out to boost and promote investment in the Mediterranean, such as Inframed. They also discussed the potential regional impact of investments made at the national level.
- Climate and biodiversity. The directors general recalled that their establishments actively contributed to efforts to protect ecosystems and adapt to climate change. Thanks to triple ecological, land and financial expertise coupled with excellent knowledge of the territories and the capacity to deploy long-term financing, the Caisses de Dépôts are major players in thinking, developing and supporting solutions to reconcile biodiversity and economic development in a collaborative approach involving local stakeholders.
- Financial innovation at the service of human potential. The general directors recalled that human ties remained very strong from one shore to the other, thus perpetuating this Mediterranean identity, the result of the mixing of populations over the centuries. Diasporas, entrepreneurs, academics… The driving “forces” in the North and the South must be fully associated with innovative solutions to meet the challenges of today and tomorrow. The Managing Directors reaffirmed their commitment to meeting the financing needs of startup and SME projects.
At the end of their discussions, the Directors General recorded the creation of a “permanent consultation framework” (CPC) which will provide a flexible and operational discussion platform between the four institutions allowing them to exchange on good practices in key sectors such as urban development, adaptation to climate change, protection of biodiversity, development of sustainable infrastructure and financing of projects led by startups and SMEs.
The CPC will also promote interaction and coordination with the entire Mediterranean financial ecosystem, whether national structures close to the Caisses de Dépôts model or key financing players involved in the Mediterranean such as the Bank. European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), national Development Agencies or various networks of investors, particularly long-term, in order to guarantee appropriate synergies between the different financial mechanisms. They also welcomed the role and action of the Union for the Mediterranean (UfM) as a multilateral framework for cooperation in the Mediterranean fully committed to the sustainable and inclusive economic development of the region.
Faced with the multiple challenges facing the region, in particular that of climate change, the general directors stressed that the Caisses de Dépôts were fully mobilized to continue to put in place innovative and concrete responses in favor of populations and the protection of the environment. ‘environment.
Khalid Safir, General Director of the Caisse de Dépôt et de Gestion du Maroc, for his part, underlined the need to seize this opportunity to place the Caisses de Dépôts on a sustainable development trajectory. He thus affirmed “that to have a better world tomorrow and beyond the proclamation of principles, we must, we Caisses de Dépôts, have new ambitions and undoubtedly think of new methods of action. A new stage, new strategy. Our horizon must be to support all these transitions for the well-being of future generations.”
Eric Lombard, Director General of CDC France, declared during this meeting: “I am delighted that climate and environmental issues are at the heart of our exchanges between Mediterranean funds. To respond to the unprecedented challenges facing the region, collective and resolute action is essential. This is the meaning of this meeting and of our commitment with my Italian, Moroccan and Tunisian colleagues.”
Nejia Gharbi, Director General of CDC Tunisia, affirmed with conviction during the meeting the need to place actions in a sustainable development trajectory. She said that to build a better future, it is imperative to adopt new ambitions and rethink methods of action. She said: “ Our horizon must be oriented towards supporting the transitions necessary for the well-being of future generations and for our action to be impactful. As members of the Forum des Caisses de Dépôt, we share this commitment to collective and resolute action to address the multiple challenges facing our region.”
At the conclusion of their discussions, the four Caisse managers recalled more broadly the relevance of the Caisse de Dépôt model as an establishment mobilizing domestic resources to finance economic, social and environmental development over the long term. As such, the General Directors reiterated their wish to fully contribute to the discussions in the various international forums on the financing of development and ecological and digital transitions, considering that deposit funds constituted a relevant financial tool in the service of these objectives.
