Following the EcoFin meeting, EU Ministers for Finance held 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. It was co-chaired by Youssef Boutros Ghali, Egyptian Minister for Finance.
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 6 billion Euros 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.
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