EIOPA has published a new memorandum of understanding (MoU) agreed with the International Bank for Reconstruction and Development and the International Development Association (together, the World Bank).
The MoU reinforces the co-operation between EIOPA and the World Bank, providing a framework within which those organisations can develop and undertake collaborative activities and thereby pursue more effectively the following common objectives:
- Contributing to the process of promoting a more risk-based regulatory and supervisory framework, and to the dissemination of knowledge and policy experiences.
- Fostering efficient and effective supervision.
- Promoting consumer protection, financial literacy and education initiatives by competent authorities.
- Contributing to financial stability and identification of systemic risk.
In particular, the MoU covers areas of activity including the following:
- Sharing knowledge, ideas, best practice and lessons learned on matters of interest.
- Providing facilities for seminars, workshops or conferences, providing access to seminars organised by each party and sharing training material.
- Organising and providing speakers at events of mutual interest.
The MoU will be effective for three years from 15 June 2017.
A copy of the MoU may be found here: https://eiopa.europa.eu/Publications/Protocols/MoU%20World%20Bank-EIOPA.pdf.
EIPOA’s press release regarding the MoU may be viewed here: https://eiopa.europa.eu/Pages/News/EIOPA-reinforces-its-cooperation-with-the-World-Bank.aspx.