IMO and EBRD Partner to Promote LNG Bunkering, Shore Power, Other Sustainable Shipping Efforts

The MoU was signed by IMO's Kitack Lim and the EBRD's Phil Bennett.
Image Credit: IMO

The International Maritime Organization (IMO) today announced that it has signed a new partnership agreement with the European Bank for Reconstruction and Development (EBRD) in an effort to help promote a number of sustainable shipping efforts, including liquefied natural gas (LNG) LNG bunkering and shore power projects.

The Memorandum of Understanding (MoU), which represents the first such arrangement between IMO and a multilateral development bank, was signed today by IMO Secretary-General Kitack Lim and the First Vice President of the EBRD, Phil Bennett.

The partnership will be focused on a range of safety and environment-focused capacity-building activities in the maritime and port sectors in selected countries.

"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 Lim.

Under the agreement, IMO and EBRD will provide investment financing, as well as 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.

"As part of the United Nations family, IMO is actively working towards the 2030 Agenda for Sustainable Development and the associated SDGs," said IMO.

"Most of the elements of the 2030 Agenda will only be realized with a sustainable transport sector supporting world trade and facilitating the global economy."