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Invest in the MEDA region, why how ? sectors concerned by this commitment are water and energy. In Johannesburg, the EU launched therefore two partnerships. The European initiative ʺWater for Lifeʺ articulates the existing financial mechanisms with specific emphasis on three parameters: water supply, hygiene and integrated resource management. At the present time, the concrete follow‐up concerning the Mediterranean countries is on its way within the framework of the MEDA funding instrument. For more information, refer to the Euro‐Med Partnership document at the following address: http://ec.europa.eu/comm/external_relations/euromed/rsp/meda_ni p05_06_fr.<strong>pdf</strong> The MEDA and FEMIP financial instruments and the institutional twinning The Euro‐Mediterranean Partnership also provides financial co‐ operation instruments to support economic change in the Mediterranean partners’ countries: MEDA and FEMIP. Created by the Cannes Council in June 1995, the MEDA programme constitutes the main financial framework for the implementation of the Euro‐Mediterranean Partnership. The European Commission, in close co‐operation with each of its Mediterranean partners and while taking account their diversity, launched assistance programmes for economic transition, following a bottom‐up approach and financed under the MEDA programme. These assistance programmes deal with promoting reforms and developing the private sector (through supporting more specifically SMEs and industrial sectors, modernising the financial sector, facilitating trade, contributing to fruitful privatisations and supporting private participation into the much‐needed infrastructure investments, etc..). Within the framework of MEDA 28
29 The Euro-Mediterranean partnership II, local management of the MEDA programmes by the EU delegations in the benefiting countries was given more importance. The funds engaged over the period 1995‐2006 amounted to approximately 8.8 billion Euros, benefiting the official authorities (national and local) as well as the private sector and the civil society. Managed by the European Investment Bank of (EIB), the Facility for Euro‐Mediterranean Investment and Partnership (FEMIP), had injected a total of Euro 7.2 billion by the end of 2005 into 77 operations in favour of economic modernisation, the establishment of a business‐friendly environment, the development of the private sector and the creation of jobs in the recipient countries. FEMIP’s existence was confirmed by various Ecofin ministerial conferences (in particular, in June 2006 in Tunis). It currently intervenes in several priority fields: the construction of infrastructures supportive to the development of the private sector, local private projects, environmental projects, and the development of capital markets. Since its creation in October 2002, the FEMIP was gradually strengthened, without however becoming a full Euro‐ Mediterranean development bank, given that its capital is exclusively held by European countries, while its expertise remain essentially focused on infrastructure and major public projects. Only a few countries support the emblematic constitution of a generalist Euro‐Mediterranean bank. Even a modest start, such as launching a subsidiary controlled by the EIB, would still demand a significant capital base given the current loan and equity portfolio in the region. The creation of such an institution would also cause a rise in the interest rates (lower rating, higher operational costs) and would require co‐decision with the new shareholders. The EIB tries to address the challenge by consolidating the existing assets, by improving the integration of the many actors involved in
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Invest in the MEDA region, why how
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Country risk Invest in the MEDA reg
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Jordan General overview References
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Libya Overview References Official
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Building Construction Invest in the
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Water Invest in the MEDA region, wh
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Syria Overview References Capital C
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Turkey Overview References Capital
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Strong points Invest in the MEDA re
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The retail sector Invest in the MED
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