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
Type: Summary of press conference
End production: 07/10/2008 First transmission: 07/10/2008
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.
Only the original language version is authentic and it prevails in the event of its differing from the translated versions.
||General view of the press conference room
||Christine Lagarde, French Minister for the Economy, Industry and Employment and President in office of the Council of the EU, saying (in FRENCH) that, in order to support the EU economy and reach stability in the financial markets, the Council agreed on sharing the conclusions with the Mediterranean countries, so that these could work together and take part in the decision making process that could benefit to all of us.
||Youssef Boutros-Ghali, Egyptian Minister for Finance, saying (in ENGLISH) that the idea of a Mediterranean Union has proven to be essential, not only as a mechanism to get the northern and southern shores of the Mediterranean closer, but also as a mechanism of consultation and coordination that, in this time of crisis, has served us well and it's serving the countries of the southern shore extremely well.
||Philippe Maystadt, President of the BEI, saying (in FRENCH) that the first priority is the de-pollution of the Mediterranean; the Blue Plan carried out a technical study and identified the key areas affected by pollution in the Mediterranean; the BEI examined these projects and identified about 40 projects that are bankable; over the next months, it will be possible to start financing these projects in Morocco and Tunisia.