The new generation of FEMIP loans granted under the European Neighbourhood Policy was launched in 2007. EUR 12.4bn will be provided to Europe’s partner and neighbouring countries between 2007 and 2013, of which EUR 8.7bn is earmarked for the Mediterranean partner countries. This is the largest amount ever granted until now in the region and a further EUR 2bn will be deployed under the Mediterranean Partnership Facility II.
On the operational front, the results achieved exceeded expectations. With 68% of financing going to the private sector, 2007 was a record year for FEMIP. Greater risk-taking, innovation and diversification were the policies developed during this year.
On the institutional front, 2007 was marked by the creation of the FEMIP Committee and this new advisory body and thinktank represented another step towards giving the partner countries a greater say in defining FEMIP policy.