Milan / Luxembourg, 07/09/2006 (Agence Europe) - The European Investment Bank (EIB) is to contribute up to €10 million to launch a Euromed Fund, a joint fixed capital placement fund, set up by the Lombardy region (Italy). The fund will be managed by the region's financial institution, Finlombarda Gestioni SRG SpA with which the EIB signed an agreement in Milan on 7 September along these lines completing the allocation earmarked by various financial bodies in the Lombardy region and which should reach around €50 or even 60 million. Major Italian banks, the Lombardy region and the Milan Chamber of Commerce will be co-investors in this fund aimed at increasing the volume of foreign direct investment in Mediterranean partner countries. According to its promoters, the fund will above all be for Italian business projects. The EIB's contribution comes from resources that it manages on behalf of the EU in the context of the FEMIP (Euro-Mediterranean Investment and Partnership Facility).