The EBRD / IMO MoU was signed by IMO secretary-general Kitack Lim (right) and EBRD first vice-president Phil Bennett. Credit: International Maritime Organization (IMO).

The International Maritime Organisation (IMO) has signed a new memorandum of understanding (MoU) with the European Bank for Reconstruction and Development (EBRD) to support the growth of sustainable shipping.

A variety of safety and environment related capacity-building activities will be carried out in the maritime and port sectors as part of the initiative.

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Countries such as Azerbaijan, Egypt, Georgia, Morocco, Tunisia and Turkey are expected to benefit from the development.

"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."

The signatories will also work together to provide investment financing and technical advisory services, as well as facilitate project preparation and planning, capacity building and institutional development.

In addition, the organisations are expected to carry out joint gap analyses with specific projects that could focus on investment opportunities in sustainable transport, safe transport of solid bulk cargoes and dangerous goods.

The signatories will work to improve maritime traffic, as well as facilitate the electronic business and implementation of a maritime single-window system.

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Among other projects, the analysis could also cover sensitivity mapping and oil spill exercises, encouraging acceptance and implementation of IMO’s 2012 Cape Town Agreement on fishing vessel safety.

It could also potential identify opportunities for investment in LNG-bunkering infrastructure.

IMO Secretary-General Kitack Lim said: “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.”

The organisation is currently actively working to achieve the United Nation’s 2030 Agenda for Sustainable Development and other related sustainable development goals (SDGs).

IMO notes that the majority of the 2030 Agenda will only be fulfilled if a sustainable transport sector can be created to support world trade and facilitate the global economy.