The EIB's activities in the southern and eastern non-member countries of the Mediterranean Region have developed within the framework of the mandates given by the EU to the Bank; the latest covers the period up to 31st January 2007. The mandates include EIB own resources loans, as well as risk capital financing and interest subsidies for environmental projects from EU budgetary resources. The level of assistance and cooperation to the region has broadened and deepened over time, which has also led to a more prominent role for the EIB. In 2002, the European Council expanded the Bank's mandate in the region through the setting-up of the Facility for Euro-Mediterranean Investment and Partnership (FEMIP), which led to an increase of the Bank's lending in the region and placed a particular emphasis on helping to foster the development of the private sector.
This evaluation covers EIB financing with own resources through individual loans under Mediterranean mandates during the period 1993-2003. It is part of a broader evaluation, of which a first report dealing with financing with own resources through Global Loans in MED, has already been published.