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French Version

FEMIP visit to Jordan

Last week, Mr Philippe de Fontaine Vive, vice president of the European Investment Bank (EIB) in charge of financing operations in the Mediterranean Partner Countries (MPCs), visited Jordan and held a series of discussions at the highest level with the Jordanian authorities.

De Fontaine Vive held meetings in Amman with Deputy Prime Minister and Minister of Finance Dr Ziad Fariz; Minister of Planning & International Cooperation, Ms. Suhair Al-Ali; Minister of Foreign Affairs, Mr Abdul Ilah Khatib; and Governor of the Central Bank of Jordan, Dr Umayyah Toukan.

The talks provided an opportunity to review the Bank’s activity in Jordan and discuss the future of FEMIP (Facility for Euro-Mediterranean Investment and Partnership). Speaking on the occasion, Vice-president De Fontaine Vive commented: “FEMIP’s activities in Jordan, both in volume but, equally, in quality and the type of support made, reflect the long standing cooperation between Jordan and the EIB. The discussions held today with the Jordanian authorities have further confirmed the country’s commitment towards a partnership with the EIB and the European Union.”

FEMIP activities are complementary to the European Commission activities in terms of promoting growth and creation of employment. Since the beginning of its activities in Jordan, the EIB has committed EURO 744 million for the purpose of financing capital projects essential for its economic development. Currently the EC funding amounts to EURO 55 million a year in grants. The EIB activities and the support of the European Commission both contribute to the Development of the Kingdom and demonstrate the commitment of the Europeans to Jordan.

Through the different types of financing instruments available under FEMIP: Loans, risk capital and technical assistance grants, the EIB has been financing key sectors of the Jordanian economy, including the modernization of transport infrastructure, expanding power generation and distribution, broadening telecom networks, supporting industrial development (also for small- and medium-sized entrepreneurs), helping to improve living conditions for Jordanian citizens (through water supply and wastewater projects) or investing in human capital by increasing access to education. In accordance with the decision of the Brussels European Council in December 2003, at the end of 2006 the Member States will, in consultation with the Mediterranean partner countries, evaluate the performance of the reinforced FEMIP and “assess the incorporation of an EIB majority-owned subsidiary dedicated to the Mediterranean partner countries”.

The meeting of the FEMIP Ministerial Committee (which will once again be paired with a Euro-Mediterranean ECOFIN Council) to be held on June 25 and 26, 2006 in Tunis will constitute the forum for carrying out an in-depth assessment of FEMIP’s achievements so far and the prospects for its development.

Amman,03 27 2006
The Star
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