With the objective to shift the paradigm of development cooperation from the donor-receiver dynamics towards a more inclusive approach that caters for involving civil society, the private sector, state actors, and deepening regional integration, this policy brief aims to discuss how international development actors, and among them the EU,can capitalise on the existing development projects and programmes. It focuses on financial technology (FinTech) to showcase how development modalities can utilice and capitalise on the existing opportunities.

The paper argues that the focus on digital transformation can change the dynamics of international collaboration into the basis of peer-to-peer and knowledge sharing. The technology is available for everyone but it requires investment and collaboration. The paper explores the two-way relationship between FinTech and digital transformation, and discusses how the risks accompanying the use of FinTech can provide a space for development cooperation. Also, it explores how FinTech can be used to address the developmental challenges of financial inclusion and international remittances.

The policy brief draws on examples from diverse regions to demonstrate how FinTech can foster regional cooperation and addresses recommendations to agencies and organisations working on deepening the cooperation between the EU, the Mediterranean and neighbouring regions.