Brussels, 03/04/2014 (Agence Europe) - Euro-Mediterranean finance ministers met in Athens on Tuesday 1 April for their 13th annual management meeting of the Facility for Euro-Mediterranean Investment and Partnership (FEMIP), a European Investment Bank (EIB) financial instrument.
The EIB says, in a press release, that it presented its new 2014-2020 roadmap to participants (the list of whom has not been released). It proposes “a more structured and proactive approach” to ensure support is better tailored to needs in the region. The current period “marks a turning point for the FEMIP. The EIB's new External Lending Mandate for 2014-2020 is coming at a time where newly appointed governments across the Mediterranean region face a difficult political and economic environment with urgent demands for economic stability and equitable growth”. This external lending mandate will allow the Bank to maintain its lending at the current level (€9.6 billion). The EIB is looking to extend the range of intervention instruments and to be involved in developing synergies with other international financing institutions, including the Islamic Development Bank, with which an operational agreement was signed in 2012. (FB)