In line with the Wider Europe Neighbourhood Policy, FEMIP aims to help the Mediterranean partner countries meet the challenges of economic and social modernisation and enhanced regional integration, particularly in the run-up to the creation of a customs union with the EU by 2010.
FEMIP gives priority to financing private sector ventures, whether local initiatives or foreign direct investment.
FEMIP on the EIB
Newly elected French President Nicolas Sarkozy spoke about an idea to create Mediterranean Union, which would play an significant role in politics, economy and security.
