Brussels, 11/03/2003 (Agence Europe) - On Tuesday, the European Commission decided to increase by EUR 22 million the Risk Capital Facility for the EU Mediterranean partners that benefit from MEDA funding (Algeria, Egypt, Jordan, Lebanon, Morocco, Syria, Tunisia, West Bank and Gaza Strip). The aim is to upgrade their financial sector, making their industry more competitive and supporting privatisation. Priority will be given to countries or territories that have already signed an association agreement with the EU. The Risk Capital Facility, managed by the European Investment Bank (EIB) is a key instrument of EU support in enhancing economic transition and strengthening the development of the private sector in MEDA countries. The EUR 22 million granted on 11 March is in addition to the 50 million already allocated to these countries in 2001. The Commission envisages granting a further EUR 28 million in 2004.