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:

  1. Contributing to the process of promoting a more risk-based regulatory and supervisory framework, and to the dissemination of knowledge and policy experiences.
  2. Fostering efficient and effective supervision.
  3. Promoting consumer protection, financial literacy and education initiatives by competent authorities.
  4. Contributing to financial stability and identification of systemic risk.

In particular, the MoU covers areas of activity including the following:

  1. Sharing knowledge, ideas, best practice and lessons learned on matters of interest.
  2. Providing facilities for seminars, workshops or conferences, providing access to seminars organised by each party and sharing training material.
  3. 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.