ArabFinance: Malta Government Investments (MGI), the Sovereign Fund of Egypt (SFE), and French public investment bank Bpifrance have signed a deed to found the European, Middle East, and North Africa (EMENA) Sovereign Wealth Funds Foundation in Malta, according to a press release on March 31st.

The agreement is paving the way for the establishment of a Mediterranean collaboration network.

EMENA foundation will provide a platform for members to hold meetings and exchange expertise and information with regard to investment opportunities to help realize national and sustainable economic development goals in the region.

The foundation also aims to raise capital to fund projects in the EMENA region “with a special focus on green technology, sustainable development, SMEs and innovation.”

Furthermore, Spanish cost-effective financial support provider Compañía Española de Financiación del Desarrollo (COFIDES) inked a memorandum of understanding with MGI, SFE, and Bpifrance to join the EMENA foundation.

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