Press Release: Commission proposes re-focused FEMIP closer to SMEs and Mediterranean neighbours

The Facility for Euro-Mediterranean Investment and Partnership (FEMIP) has significantly contributed to investment and economic growth in the south Mediterranean region, but it can do more to foster private sector development and especially small and medium sized enterprises (SMEs). The European Commission’s review of the European Investment Bank-led Facility created four years ago concludes that it needs to cater more for SMEs and that partner countries need to become more involved in its running. The Commission’s Communication on FEMIP is scheduled to be discussed in November by European Union Finance Ministers.