# CE2004065EN.01012101.xml

| 13.3.2004 | EN | Official Journal of the European Union | CE 65/121 |
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13.3.2004

EN

Official Journal of the European Union

CE 65/121

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(2004/C 65 E/133)

WRITTEN QUESTION E-2232/03

by Sebastiano Musumeci (UEN) to the Council

(3 July 2003)

Subject:   Euro-Mediterranean Bank in Sicily

Subject:

At the request of the Laeken European Council of December 2001, the Commission and the Council have examined the possibility of setting up a Euro-Mediterranean Bank. The Barcelona European Council of 15/16 March 2002 approved the creation of a reinforced Euro-Mediterranean investment facility within the EIB, complemented by a Euro-Mediterranean partnership arrangement and an EIB representative office in the area.

Could the Council therefore indicate:

| 1. | what criteria will be adopted for selecting the country in which to base the Euro-Mediterranean branch of the EIB; |
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1.

what criteria will be adopted for selecting the country in which to base the Euro-Mediterranean branch of the EIB;

| 2. | whether it does not consider that Sicily might be the most appropriate region in which to site that bank, given its geopolitical position in the Europe-Africa-Asia basin and its age-old historical, cultural and religious tradition? |
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2.

whether it does not consider that Sicily might be the most appropriate region in which to site that bank, given its geopolitical position in the Europe-Africa-Asia basin and its age-old historical, cultural and religious tradition?

Reply

(17 November 2003)

(17 November 2003)

As noted in the Member's question, the European Council, in Barcelona on 15/16 March 2002, approved, in paragraph 52 of its Conclusions, the Ecofin Council's decision on the creation of a reinforced Euro-Mediterranean investment facility within the EIB. This facility was established by the European Investment Bank in accordance with the Council decision as the ‘Facility for Euro-Mediterranean Investment and Partnership’ or ‘FEMIP’.

Taking into account all the elements cited by the Member in his question, the FEMIP was established with a financial facility, complemented by the Euro-Mediterranean Partnership arrangement, which pursues co-operation in the region through its ‘Policy Dialogue and Coordination Committee’, with co-operation further enhanced by the establishment of a representative office of the EIB in the Euro-Mediterranean region.

Such a regional office was opened in Cairo in July of 2003.

On the same occasion, the European Council Conclusions also noted in paragraph 52 that ‘On the basis of an evaluation of the Facility's performance, and taking into account the outcome of consultations with our Barcelona Process partners, a decision on the incorporation of an EIB majority-owned subsidiary dedicated to our Mediterranean partner countries will be considered and taken one year after the launching of the Facility.’ As the FEMIP was launched in October 2002, the evaluation of its first year of operation is expected to be completed in the Autumn of this year, with the associated decision on the incorporation of a subsidiary to be taken in light of that evaluation.

The Council is expected to discuss the evaluation and the outcome of consultations with Barcelona Process partners in November, at which point it may consider the question of the incorporation of an EIB majority-owned subsidiary.

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