Strengthened European Investment Bank-Femise partnership
Strengthening EIB-Femise partnership
The EIB, represented by EIB Vice-President Philippe de Fontaine Vive, and FEMISE, represented by President Ahmed Galal, and Prof. Jean-Louis Reiffers, chairman of its scientific committee, renewed their partnership on 7th of July (dated from 2006) and agreed, as a first initiative, to launch a study into the impact of the international financial crisis on the partner countries. The study should be ready in the first half of 2010.
The study will, firstly, seek to identify the transmission channels of the crisis in the partner countries and to quantify the impact (actual and envisaged) at a macro-economic level, with particular attention on the financial sector. Secondly, the study will have a forward-looking dimension, covering the next three years, to help identify economic policy responses that could be put in place by each country and to formulate recommendations about the action to be taken by international lenders and development finance partners.
- Agreement Signature of EIB-Femise
The strengthened partnership aims to create new synergies between analyses provided by FEMISE and FEMIP operations. This new agreement will be funded with an amount of 400 Keuros for three years. In this framework, FEMIP will be able to call on FEMISE to launch in-depth studies, such as that announced today, and to associate FEMISE with the technical assistance it provides partner countries. This will particularly be the case for the actions EIB will undertake in future through the planned Marseille Centre for Mediterranean Integration (MCMI). The MCMI will be a platform for assistance for policy reform in the partner countries bringing together, along with EIB, the key actors in the development of the Mediterranean including the World Bank, several bilateral European financial institutions, United Nations agencies and universities and think tanks (among them, FEMISE and the ETF in Turin).
About FEMIP
The Facility for Euro-Mediterranean Investment and Partnership (FEMIP) was created in October 2002, at the request of the European Council in Barcelona, to strengthen and amplify EIB action in the Mediterranean partner countries. It is now the reference actor in the development of the Mediterranean with a focus on developing the local private sector and creating a favourable environment for investment. In six years FEMIP has invested more than EUR 8.5 bn in 125 projects, supported 1,770 small and medium-sized enterprises and dedicated nearly EUR 100m to technical assistance programmes and studies. For more information see:
http://www.eib.org/projects/regions/med/index.htm
Chargement