A prominent objective of EIB-FEMIP is cooperation with the European institutions and international financial institutions, with a view to possible co-financing, capacity building and participation in regional initiatives. Efforts in this direction have recently been intensified following the Arab Spring, in order to enhance the effectiveness and efficiency of joint work.

Cooperation with the European Commission

The cooperation between the EIB and the European Commission in the Mediterranean region is structured along the lines of the European Neighbourhood Policy. In this context, the EIB cooperates with the European Commission through active participation in the Neighbourhood Investment Facility, which pools together grant resources from the European Commission and the EU Member States and uses them to leverage loans from European Finance Institutions as well as contributions from the partner countries.

International Financial Institutions

The EIB enjoys a close relation with the French Agence Française de Développement (AFD) and German Kreditanstalt für Wiesderausbau (KfW) in co-financing operations as well as pooling resources for project appraisal and monitoring, information-sharing and consultation under the Mutual Reliance Initiative.

We also have a formal agreement to work with twelve European Development Finance Institutions on co-financing private sector projects, enhancing institution-wide coordination and joint technical work. The EIB signed a Memorandum of Understanding with the African Development Bank and the European Commission in 2005 to enhance cooperation particularly regarding support for the private sector, regional cooperation, the exchange of information on poverty reduction, macroeconomic reform and debt relief in the African continent, including North Africa.

We have signed a memorandum of understanding with the World Bank and the European Commission aimed at enhancing donor coordination in the Middle East and North Africa / Southern Mediterranean region.

The EIB and the Islamic Development Bank (IDB) group signed a Memorandum of Understanding in 2012 with a view to strengthening our relationship and creating synergies between the two institutions.

Coordination Platforms

Cooperation between the EIB and the Union for the Mediterranean (UfM) continued to grow in 2013, building on the Memorandum of Understanding signed with UfM Secretariat in January 2011 and the renewed MoU of April 2013.

Constructed as a multilateral platform, the Centre for Mediterranean Integration (CMI) aims at transforming research into sound public policy recommendations. The EIB has taken the lead in three CMI programmes: Sustainable Urban Development in the Mediterranean, Innovation and Public Private Partnerships.

The Deauville Partnership provides support for the political and economic transitions. The EIB has been a strong supporter of the Deauville Partnership since its launch in May 2011.

Towards a new generation of partnerships

Financing SMEs and microfinance institutions is central to the Bank’s work in support of the private sector development. Within a partnership with the Spanish Agency for International Development Cooperation (AECID), up to EUR 100m is being deployed on a co-investment basis in risk capital investments.

We also have a three-year EUR 4m programme with the Luxembourg government for developing microfinance activities in Tunisia by improving the regulatory environment as well as improving the institutional capacity of microfinance institutions.

We also collaborate with Masdar in order to accelerate the development of clean energy projects in parts of the region. Under a framework agreement signed in 2014, Masdar and the EIB will jointly identify investment opportunities for the development and financing of renewable energy projects.

Dialogue

National representatives give feedback on lending policy guidelines as well as more general discussions on economic, financial and sectoral matters. There are three forums for dialogue with national representatives: Ministerial Conferences; Advisory Committee; FEMIP Conferences.