A conference organised by EIB and MEA in cooperation with UK Trade & Investment
Department of Trade and Industry Conference Hall
1, Victoria Street, London SW1
FEMIP - Facility for Euro-Mediterranean Investment and Partnership - is a major step forward in financial and economic cooperation between the European Union and the Mediterranean Partner Countries (MPCs). By the year 2006 it expects to be funding about EUR10 billion of investments. The EIB has at its disposal funds under the existing Euro-Mediterranean mandates, risk capital resources from the EU budget as well as technical assistance and investment aid funds provided by the EU.
Private sector development is the top priority of FEMIP especially for SMEs and FDI. It is also able to support projects for private sector development (economic infrastructure, health and education schemes).
The ultimate goal of FEMIP is to help the Mediterranean Partner Countries to meet the challenges of economic and social modernisation and enhance regional integration in the run-up to the creation of a Euro-Mediterranean free-trade area planned for 2010.
Since the European Council meeting in Barcelona in March 2002, the EIB has extended about EUR 3.7 billion of new loans in favour of a wide range of new investment operations throughout the Region. This success has led to the European Council of Brussels to further reinforce FEMIP by closer cooperation of the 27 Euromed partner countries (15 EU member states, 2 Acceding countries and 10 MPCs), more regional offices and innovative financing instruments.
This EIB conference will focus on the region's achievements and prospects, on investment needs and priorities and on the issues of financing development. The discussion will be developed by Lyse Doucet of the BBC who will act with the panels as moderator.