Mediterranean region set to receive EU money transfers

Funds directed to countries bordering the Mediterranean Sea may increase investment opportunities in the region.

Britons looking to make international payments to secure assets overseas are likely to benefit from proposals that earmark financing for the Mediterranean Union, eubusiness.com reports.

The scheme intends to offer finance to countries that have suffered from political upheaval due to conflicts in the Middle East.

European Union (EU) loans are expected to finance infrastructure, developments and education projects in the region.

Christine Lagarde, France's finance minister, spoke of her optimism that the scheme may have positive knock-on effects throughout the EU.

"We have seen again that we are closely linked, that the development of some cannot be done without the development of others," she told the publication.

Skilled emigrants looking to transfer money overseas were recently encouraged by New Zealand officials to consider the region for their investments.

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By John Mills.