European Investment Bank Presents New Climate Change Study


1 July 2008: Philippe de

Fontaine Vive, European Investment Bank (EIB) Vice-President, has presented the results of a study on climate change in the

Mediterranean and its consequences on the development of Maghreb and Machreq


The study shows climate change effects will have the largest impact on the economies of countries South and East

of the Mediterranean with the “cost of inaction” calculated around US$30-35 billion, considering a scenario

with oil prices around US$120 per barrel. [Press