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Placed under the aegis of the Union for the Mediterranean in 2011,the Urban Projects Finance Initiative (UPFI) is the result of a partnership between the European Union, the French Development Agency and the European Investment Bank. It aims to support the development of ambitious urban projects in the southern and eastern Mediterranean as well as in the Balkans, in a context of exploding urban demography. This Initiative has supported 18 major integrated urban development projects. There are three main objectives: job creation, poverty reduction and upgrading the urban fabric. The aim of the Initiative is to achieve a balanced development of the territory by providing sustainable infrastructure and efficient facilities. 


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