Brussels, 18/07/2011 (Agence Europe) - The European Investment Bank (EIB), proudly announcing a “record year” in 2010, with loans worth €2.6 billion granted to the Mediterranean countries, also highlights the consolidation of the role of its subsidiary, the Facility for Euro-Mediterranean Investment and Partnership (FEMIP) since it was set up in 2002.
From its first year of operation until 2010, FEMIP provided loans totalling €12 billion. Three countries far outstrip the rest: Egypt, with €3.259 billion, Tunisia, with €2.679 billion and Morocco, with €2.506 billion. €1.304 billion were granted to Syria, €636 million to Algeria, €578 million to Lebanon, €359 million to Jordan. In the eight years, Israel has received loans worth €419 million in total and Palestine (West Bank and Gaza) €60 million.
Across the region, energy has been the main recipient sector (€5.163 billion), followed by transport (€2.543 billion), industry (€1.156 billion) and the environment (€1.046 billion). The EIB has committed a total of €296 million in venture capital operations. Egypt (€41 million) and Morocco (€55 million) were the main beneficiary countries, but most went to regional projects.
In its balance sheet commitments of €12 billion (it mobilised around €30 billion in additional capital from international financial institutions), FEMIP notes that it has supported 2,150 Mediterranean SMEs. €98 million were devoted to technical assistance schemes, it says, to enhance knowledge and skills in the countries of the region. (F.B./transl.rt)