Home LebanonFEMIP – Helping the private sector

FEMIP – Helping the private sector

by Executive Staff

Although there was renewed interest in European aid to Lebanon following the Paris III donor conference last January, it is worth remembering that there is a strong tradition in European funded local projects, whether they be under the umbrella of the European neighborhood policy — which currently applies to Europe’s 16 immediate neighbors, with the exception of Russia — or as envisioned by the Barcelona Process, which aspires to deepen relations between the European Union and its southern neighbors with bilateral agreements, leading ultimately to the promotion of a Euro-Mediterranean free trade agreement in 2010. “The European Investment Bank’s (EIB) operations in the Mediterranean partner countries have in fact been brought together under the Facility for Euro-Mediterranean Investment and Partnership (FEMIP) since October 2002,” explained EIB spokes­person Orlando Arango. Active in Lebanon since 1978, the EIB has invested a total of 800 million euros, especially to reconstruction, water and sanitation

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