Brussels, 6/03/2013 (Agence Europe) - In a presentation of the European Investment Bank's (EIB) activities in Paris last week, its vice president, Philippe de Fontaine Vive, confirmed the role played by the EIB in 2012 as the, “main financial actor in Mediterranean development”.
The EIB asserts that these results pave the way for 2013, “which looks like it is going to be decisive year for supporting Mediterranean country partners up to 2020”. In a detailed document, the EIB describes, “the action of the EIB-FEMIP over the past two years as part of the political and social transition process in each of the Mediterranean countries”. This differentiated approach, however, has promoted a “high and regular pace in fund disbursement, which reached a record level of €1.5 billion in 2012”.
Beneficiary projects this year have included the Sousse electricity plant in Tunisia (€30 million), a phosphates refinery in Jordan (€27.49 million) and an electricity plant at northern Giza in Egypt (€89.36 million). Morocco has been the country that has put forward projects that are most likely to obtain funding. The EIB explained that, “with an unprecedented total of almost €1 billion in funding, 2012 is testimony to the EIB-FEMIP's strong commitment to supporting change promoting a new sort of growth that is more inclusive and innovative in Morocco” (our translation throughout). (FB/transl.fl)