The EU bank

FEMIP works closely with the European Commission, and with international and bilateral European financial institutions.

World Bank

In May 2004, the EIB, the European Commission and the World Bank signed a Memorandum of Understanding aimed at enhancing the coordination of their activities in the Mediterranean partner countries. In 2008, the International Finance Corporation (IFC), the World Bank Group institution responsible for operations with the private sector, joined the partnership.

A number of joint activities have been carried out under this partnership: financing operations, coordination meetings, organisation of conferences and cooperation at local level between the external offices of the three institutions.

Secretariat of the Union for the Mediterranean (UFM)

The EIB and the Secretariat of the Union for the Mediterranean in Barcelona signed a memorandum of understanding on 17 January 2011 in order to implement an improved strategy to consolidate regional development. This coordination aims to promote the Union for the Mediterranean via a reinforced partnership focusing on the execution of priority projects. The EIB will provide its expertise to identify and appraise projects and initiatives and make its network and good relations with international financial institutions, development agencies and professional associations available to the Union for the Mediterranean.

Against this backdrop, the EIB will support the pre-launch of the Euro-Mediterranean Development Centre (EMDC) for micro, small and medium-sized enterprises, using the voluntary resources of the FEMIP Trust Fund. The EMDC, which is strategically linked to the Secretariat of the UfM in Barcelona, will provide technical rather than financial support for Euro-Mediterranean micro, small and medium-sized enterprises. It aims to help implement the Mediterranean Business Development Initiative (MBDI) by providing a regional dimension and encouraging North-South and South-South cooperation. The EIB also decided to sign a memorandum of understanding with the Milan Chamber of Commerce to help set up the EMDC.

Marseille Centre for Mediterranean Integration (CMI)

In October 2009, cooperation with peer institutions and partners took on a new dimension with the inauguration of the Marseille Centre for Mediterranean Integration (CMI). In a period of unprecedented change in the Mediterranean region, the CMI is striving to promote effective, sustainable and complementary development policies. It achieves this by offering political decision-makers, planners, academics and market players the possibility of producing, sharing and putting into practice knowledge and analysis.

In its capacity as one of the Centre’s main founding members, the EIB is directing the implementation of three programmes: the rehabilitation of historic city centres (Medinas 2030); the organisation of the transport logistics network in the Mediterranean region (Logismed initiative); and the financing of innovation and support for the policy of establishing technopoles (Innovation and technology). At the same time, the Bank is making an active contribution to three other programmes: planning and development of environmentally-friendly urban transport; support for basic and professional training; and sustainable water management.

African Development Bank

The EIB, the European Commission and the African Development Bank Group (AfDB) signed a Memorandum of Understanding in August 2005 to enhance the effectiveness of their cooperation in supporting development programmes in African countries.

Priority areas of cooperation include the co-financing of projects to support the private sector and regional cooperation, and the exchange of information on poverty reduction, macroeconomic reform and debt relief.

Multilateral and bilateral European institutions

The EIB and the twelve European Development Finance Institutions (EDFIs) operating in the Mediterranean signed a letter of intent on 13 May 2005 to promote the co-financing of private sector projects, enhancement of institution-wide coordination and joint technical work.

On 13 December 2005, the EIB, Agence française de développement (AFD) and KfW Entwicklungsbank (the German development bank) signed an agreement aimed at stepping up their cooperation.

This agreement promotes co-financing operations involving the three institutions and the pooling of their resources at both project appraisal and monitoring stages. It ensures better information-sharing and closer consultation on various aid issues.

In 2010, the EIB, AFD and KfW signed a tripartite “mutual reliance” agreement aimed at strengthening cooperation by delegating tasks to the main finance provider in their shared operations.