The Facility for Euro-Mediterranean Investment and Partnership(FEMIP) was founded in 2002 with the aim to assist the economic and social development of the Mediterranean partner countries. The FEMIP is comprised of EU Member States and 9 countries of the Mediterranean (Algeria, Egypt, Gaza/ West bank, Israel, Jordan, Morocco, Lebanon, Syria, Tunisia).
Priority areas of the FEMIP are support for private sector (especially small and medium-sized enterprises and industrial sector) and creating an investment friendly environment by improving infrastructure in energy, transport and telecommunications, environment, human and social capital. These tasks aim at promoting growth of business and employment. The FEMIP resources are used to finance projects of private and public sector, investments in own capital of private companies and technical assistance to the Mediterranean Region.
The main decisions in the FEMIP format are taken in annual ministerial meetings of Finance Ministers of EU Member States and the Mediterranean countries that are held in one of the member countries of the partnership. These meetings are devoted to presentations of annual reports, discussions of investment strategies and guidelines of future activity.