Brussels, 27/11/2006 (Agence Europe) - In an effort to strengthen the partnership with Mediterranean countries and increase efficiency in funding of the private sector in the region, particularly SMEs, FEMIP (the EIB's financing programme for the Mediterranean partner countries) should be bolstered and its priorities reinforced. At the end of October, the Commission presented its assessment of FEMIP's role and the options envisaged for the future (EUROPE 9292). On Tuesday finance ministers will adopt conclusions calling for an improvement in FEMIP instruments, particularly greater sharing out of risks between FEMIP, local firms and local financial intermediaries. Ecofin emphasised that these players, as well as the European Investment Bank (EIB), should show greater openness to risk taking. Another Council priority was to strengthen partnerships and interaction at local levels, particularly through implementation of an advisory committee, made up of representatives from Mediterranean countries, in an effort to increase involvement of partner countries. Finally, it is necessary to tighten the links between FEMIP and the European Neighbourhood Policy (ENP), especially through better integration of EIB activities in the strategies of the EU and combining them better with loans from the EIB and resources from the EU's budget. Member States are calling on partner countries to facilitate development of the private sector and encourage structural reforms, particularly by reform of the financial sector, as well as by cooperating more closely with the EIB so that it can issue stocks or bonds on local markets. (ab)