The 2014 FEMIP Trust Fund Annual Report provides a comprehensive overview of the fund’s strategy, activities and partnerships in the Mediterranean region and its promising perspectives for the next seven years. In line with EIB’s Strategy for the Mediterranean neighbourhood, the FEMIP Trust Fund (FTF) has launched its new "Impact Investment Envelope" providing support for higher risk investments with greater economic impact in the Mediterranean Partner Countries (MPCs). Likewise, a new dedicated “Climate Action Envelope (CAMENA)” was created with an initial pledge made by the UK’s Department for International Development (DFID) of EUR 19m over a 4-year period. During 2014, almost EUR 6m were approved and EUR 2m disbursed to provide technical assistance and risk capital to viable investments in the MPCs. Moreover, more than EUR 21m from the MENA Transition Fund were channelled through the FTF.