28-06-2021

PAM addresses the 2021 Edition of the International Arab Banking Summit (IABS)

PAM addresses the 2021 Edition of the International Arab Banking Summit (IABS)

On 24 and 25 June 2021, PAM President Hon. Gennaro Migliore and Hon. Giulio Centemero, Co-Chair of the PAM Panel on Trade and Investment, participated in the 2021 Edition of the International Arab Banking Summit (IABS), held in Rome.  The event brought together representatives from banking institutions, the League of Arab States, the European Banking Federation, and several other financial and economic institutions.

The Summit was organised by the Union of Arab Banks in cooperation with the International Monetary Fund (IMF), the UN Environment Programme Finance Initiative (UNEP FI), and the European Banking Federation (EBF), under the patronage of the President of the Italian Council of Ministers, H.E. Mr. Mario Draghi.

Hon. Centemero was invited to address the audience during the opening session, in representation of the Parliamentary Assembly of the Mediterranean (PAM). In his speech, he highlighted the pivotal role of PAM as the main forum where Euro-Mediterranean and Gulf Parliaments are able to meet and discuss effective solutions to common challenges.

The COVID-19 pandemic had a dramatic impact on the economies of PAM countries, hence Hon. Centemero called for a strengthening of the long-term resilience of the financial system, with a greater focus on inclusivity, sustainability and education. He also stressed the cruciality of the Arab world within PAM, and underlined how Arab countries within the Assembly are particularly active in promoting economic and financial cooperation for consistent recovery plans across the region. He also highlighted the key role of public and private banking in supporting SMEs and sectors such as and Green Recovery Plans and Tourism, as a condition sine qua non to ensure sustainable economies, employment and social stability.

The Assembly’s contribution to the event demonstrates its commitment to strengthen collaboration with the productive and the banking sector in the Arab world, as well as with international financing institutions, to support Member Parliaments in the promotion of investments and business opportunities for a rapid and resilient revitalization of Euro-Mediterranean and Gulf economies.//

 

MEDIA INFORMATION: 34/2021

Issued on: 28/06/2021

 

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