IMO Gets €10 Million EU Funding to Green Light Maritime Efficiency Project

A €10 million contribution from the European Commission has given the green light to an IMO project set to establish a global network of MTCCs.

The International Maritime Organization (IMO) Tuesday announced that an energy efficiency project that intends to develop a global network of Maritime Technology Cooperation Centres (MTCCs) in developing countries can go ahead after IMO received €10 million ($10.83 million) in funding support from the European Commission (EC).

The four-year project is said to be intended to help beneficiary countries limit and reduce shipping sector greenhouse gas (GHG) emissions, and will be aimed at five regions including Africa, Asia, the Caribbean, Latin America, and the Pacific.

"These have been targeted for their significant number of Least Developed Countries (LDCs) and Small Island Developing States (SIDSs)," says the IMO.

The energy-efficiency project, set to be coordinated by IMO’s Marine Environment Division, is said to be part of the EC's broader climate financing portfolio, which is intended to assist less developed countries address climate change through actions in specific fields or sectors, including shipping.

The IMO says the project "will encourage the uptake of innovative energy-efficiency technologies among a large number of users through the widespread dissemination of technical information and know-how."

The core of the project will be the establishment of five MTCCs, explains the IMO, one for each target region.

"These will have a strong regional dimension, becoming centres of excellence for promoting the uptake of low-carbon technologies and operations in maritime transport," said the organisation.

Each of the MTCCs will be hosted by an existing and credible institution, with host institutions selected through a transparent competitive bidding process with a defined criteria and project deliverables.

In October, Ship & Bunker reported that the IMO had proposed a network of maritime technology cooperation centres to increase the abilities and efficiency of maritime hubs worldwide.