Partnerships
FEMIP works closely with the European Commission, and with international and bilateral European financial institutions.
World Bank
In May 2004, the EIB, the European Commission and the World Bank signed a Memorandum of Understanding aimed at enhancing the coordination of their activities in the Mediterranean partner countries.
A number of joint activities have since been carried out under this partnership: financing operations, coordination meetings, organisation of conferences and cooperation at local level between the external offices of the three institutions.
In May 2005, the EIB and the World Bank Institute decided to step up their cooperation in the field of the knowledge-based economy by signing a work programme for 2005-2006, aimed at developing and sharing knowledge in the innovation, new technologies and urban development sectors.
African Development Bank
The EIB, the European Commission and the African Development Bank Group (AfDB) signed a Memorandum of Understanding in August 2005 to enhance the effectiveness of their cooperation in supporting development programmes in African countries.
Priority areas of cooperation include the co-financing of projects to support the private sector and regional cooperation, and the exchange of information on poverty reduction, macroeconomic reform and debt relief.
Multilateral and bilateral European institutions
The EIB and the twelve European Development Finance Institutions (EDFIs) operating in the Mediterranean signed a letter of intent on 13 May 2005 to promote the co-financing of private sector projects, enhancement of institution-wide coordination and joint technical work.
On 13 December 2005, the EIB, Agence française de développement (AFD) and KfW Entwicklungsbank (the German development bank) signed an agreement aimed at stepping up their cooperation.
This agreement promotes co-financing operations involving the three institutions and the pooling of their resources at both project appraisal and monitoring stages. It ensures better information-sharing and closer consultation on various aid issues.