Our Mission is to further the objectives of the European Union by making long-term finance available for sound investment.
The EIB Group promotes Corporate Responsibility through its mission and activities in the service of the European Union, through the way it implements these and through its internal management.
The EIB attaches great importance to engaging with civil society and building cooperative relations with its representatives.
Right from the word go, FEMIP wished to involve the representatives of the Mediterranean countries in its lending policy guidelines through constructive discussions on economic, financial and sectoral matters.
This is now a three-way dialogue involving the Ministerial Conference, the Advisory Committee and the FEMIP Conferences.
FEMIP also works continuously with the European Commission, the aim being to maximise synergies between the EIB's lending and the Union's budgetary resources by supporting shared objectives.
Likewise, FEMIP maintains close links with international and bilateral European financial institutions. This cooperation has been stepped up considerably in the last three years, through the signing of a number of memoranda of understanding and letters of intent.
Furthermore, in March 2006 FEMIP signed a partnership agreement with the Euro-Mediterranean Forum for Economic Institutes (FEMISE), which brings together 55 institutes specialising in the study of the Euro-Mediterranean Partnership. This cooperation will take a number of forms (studies, consultations, exchanges of experts) and will cover fields including transition and economic reform, private sector development and North-South and South-South regional integration.
Neighbourhood Investment Facility
The Neighbourhood Investment Facility (NIF) was created in 2008 by the European Commission to mobilise additional resources to fund infrastructure requirements in neighbouring countries, particularly in the transport, energy, environmental and social sectors.
The EIB is the leading source of funds in terms of amounts lent for NIF projects. The Bank has co-financed 80% of the projects approved by the NIF’s Operational Board since the launch of the Facility (31 out of 39).
What is the Mutual Reliance Initiative?
The Mutual Reliance Initiative is a strategic initiative between the EIB, Agence française de développement (AFD) and Kreditanstalt für Wiederaufbau (KfW) to promote efficient project co-financing via mutual recognition of procedures.
In 2010, cooperation with AFD and KfW was reinforced by the signature of the Tripartite Agreement on Mutual Reliance. To date, nine pilot projects have been selected for the FEMIP region, all of them stemming from the commonly established NIF project pipeline. In 2010, three projects amounting to EUR 459 million were co-financed with AFD and/or KfW.
Cofinancement de projets
In 2010, all projects signed by the EIB in Egypt, Morocco and Tunisia were co-financed with other international, regional or bilateral institutions. The EIB also co-financed a project in Syria. In total, eight out of 18 signed projects were co-financed (73% of the EUR 2.6 billion signed in 2010):
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