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The International Maritime Organization (IMO) has signed a new partnership agreement with the European Bank for Reconstruction and Development (EBRD) that is designed to help promote sustainable shipping through a range of activities in the maritime and port sectors in selected countries.

It brings together the IMO, the United Nations maritime agency which sets global standards for safe, secure, efficient and environment-friendly international shipping, and the multilateral development bank EBRD, which has experience in supporting comprehensive transport related development activities and practices in the maritime and port sectors.

A memorandum of understanding (MoU) was signed on February 8 by IMO Secretary-General Kitack Lim and the First Vice President of the EBRD, Phil Bennett. It represents the first such arrangement to be established between the IMO and a multilateral development bank.

In addition to providing investment financing, IMO and EBRD will work together under the agreement to provide 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.

Gap analysis is to be carried out with specific projects likely to focus on a range of safety- and environment-related issues, centred on implementing and enforcing IMO regulations.

According to the IMO, these projects could include:

- identifying opportunities to invest and propose investment for LNG bunkering infrastructure

- potential regulatory and policy reforms associated with ships using shore-based power sources in port (known as 'cold ironing')

- looking at opportunities to improve ships in terms of reducing air pollution and greenhouse gas emissions and improving energy efficiency

- assessing emissions in ports and developing emission-reduction strategies;

- sensitivity mapping and oil spill exercises

"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 Secretary-General Lim.