EIB steunde projecten in Noord-Afrika en Midden-Oosten in 2003 met ruim 2 miljard euro (en)

In 2003, the first operational year since the launch of the EIB's Facility for Euro-Mediterranean Investment and Partnership (FEMIP), the European Investment Bank (EIB) lending in the Mediterranean Partner Countries (MPC) reached the record figure of EUR 2.1 billion ( EUR 1.8 billion in 2002). This confirms the position of the EU's financing institution as a major player in promoting the region's economic development and stability.

Focus on private sector and private-sector enabling infrastructure

EIB activity in the Mediterranean meets fully FEMIP's primary objectives: more than one third of the financing directly promoted the growth of private businesses, through Foreign Direct Investment FDI (Turkey, Tunisia), joint ventures resulting from cooperation between MPC promoters (Algeria) and Small- & Medium-Sized Enterprises (SME) financing (Egypt, Syria, Tunisia, creation of a regional venture capital fund).

Lending also placed emphasis on infrastructure projects, including energy, human capital and environment, underpinning private sector development in Morocco, Algeria, Egypt, Lebanon and Syria.

Other EIB-financed projects included:

Power and water supply and distribution in Egypt, Morocco and Tunisia;

Improvement of health infrastructure in Syria and Tunisia;

Remodelling of education systems in Jordan and Turkey;

Assistance to populations stricken by natural disasters (Algeria).

Reinforced FEMIP: stronger financing and partnership in the MPC

FEMIP's 3^rd Ministerial Committee Meeting (Naples, November 2003) reaffirmed the strong commitment of 27 European and Mediterranean Finance and Economy Ministers to forge a closer economic partnership.

The Brussels European Council agreed in December 2003 to develop FEMIP further and to reinforce its position within the Bank with a number of features in support of private sector development:

Up to EUR 200 million from the Bank's reserves dedicated to allow for extended risk-sharing operations of up to EUR 1 billion, and a new lending structure to mitigate private sector risks (special "FEMIP" envelope);

Improved dialogue on the structural reform process to enhance the environment for private sector activity, project and donor co-ordination; development of new financial products through transforming the Policy Dialogue and Co-ordination Committee into a Ministerial Committee of Finance Ministers meeting once a year, to be complemented by a High-Level preparatory body of experts (FEMIP Experts Committee);

Establishment of a trust fund of EUR 20-40 million, directing resources to projects in certain priority sector (water, transport, electricity, human capital) that can be made financially viable via a grant contribution or risk-capital participation.

The reinforced FEMIP represents a major step forward in economic and financial cooperation between the Union and the MPC. Its priorities are:

Extensive involvement of the MPCs in FEMIP policy with the creation of the Ministerial Committee Meetings and opening of regional offices in the Mashreq and Maghreb countries;

Focus primarily on development of the wealth- and job-creating private sector;

Develop investment in human capital;

Greater technical assistance for the design of quality projects and the process of economic reform in the MPCs;

Deployment of innovative financial products and risk capital;

Gradual increase in the annual volume of EIB activities in the MPC from EUR 1.4 to 2 billion.

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EIB financing in the region in 2003 broke down as follows:

Helen Kavvadia, Press Officer, tel.: +352 4379-3146, fax: +352 4379-3188/89

Internet address: http://www.eib.org

For all matters relating to procurement, the promoter should be contacted directly