Abstract

The MENA (Middle East and North Africa) area is not homogenous. Energy is the most important element of the region, with an excellent development potential. Europe is absent and could do a lot. The obstacles to be overcome: economic and political instability and lack of interconnections. The great challenge of growth can be won by increasing productivity through investments. The crucial issue of the slow development of the energy sector is the lack of investments. How can they be encouraged? The private sector does not have sufficient incentives. Funding might come from public investments and international organizations such as the European Bank for Reconstruction and Development (ECRD) and the European Investment Bank (EIB), with their financial tools such as InfraMed and its innovative network of co-investment agreements with other local funds: a model to be followed.