EcoFin / Euromed / FEMIP (Facility for Euro-Mediterranean Investment and Partnership) ministerial meeting: extracts from the joint press conference by Christine Lagarde, Youssef Boutros Ghali and Philippe Maystadt
Following the ECOFIN meeting, EU Ministers for Finance hold a meeting with their counterparts from FEMIP (Facility for Euro-Mediterranean Investment and Partnership) to discuss the general economic situation in the Euro-Mediterranean region and to follow up to the July Paris Summit for the Mediterranean.
Christine Lagarde, French Minister for the Economy, Industry and Employment and President in office of the Council of the EU, said that in the framework of the economic crisis, Mediterranean basin countries should work together on solutions that could benefit both rivers. Youssef Boutros Ghali, Egyptian Minister for Finance, added that the Union for the Mediterranean is working well as a mechanism of consultation and cooperation. Phillipe Maystadt, President of the BEI, explained that 40 projects have already been identified for the de-pollution of the Mediterranean.
Background: Operational since October 2002, FEMIP is now the key player in the economic and financial partnership between Europe and the Mediterranean, with financing operations worth almost EUR 6 billion mounted between October 2002 and December 2006. Activities are focused on two priority areas: support for the private sector and creating an investment-friendly environment. SHOTLIST