June 13, 2011 - Head of the Commerce and Industry Chambers Union, Mohammad Shukeir, met Monday with INFRAMED Fund Director, Frederic Otavi, discussing developmental projects.

InfraMed Infrastructure is a long-term investment fund and the first financing facility of the Union for the Mediterranean. It was launched in May 2010 as part of the momentum generated from the Union for the Mediterranean with an initial commitment is €385 million and a final target of €1 billion.

InfraMed was jointly created by five major investors: Caisse des Dépôts et de Consignations (France), Cassa Depositi e Prestiti (Italy), the European Investment Bank, Caisse de Dépôts et de Gestion (Morocco), and EFG Hermes (Egypt).

Talks featured high on the projects to be implemented, especially at the levels of infrastructure, higher learning, telecoms, transportation, and renewable energy.

Shukeir praised INFRAMED’s initiative for developing basic infrastructure and economy in Lebanon and the Mediterranean.