Europe and the Mediterranean Region
An enhanced financial partnership
FEMIP (Facility for Euro-Mediterranean Investment and Partnership lending) lending in the 10 Mediterranean Partner Countries reached the record figure of EUR 2.1 billion in loans signed in 2003, the first full operational year since its launch. This result confirmed FEMIP’s position as a major player in promoting the region’s economic development and stability. In December 2003, just one year after its launch, the European
Council of Brussels invited the EIB to develop further and reinforce this facility. This represents strong recognition of the Bank’s activities and operational success in the region, and at the same time a challenge to deliver swiftly the changes announced.
