FEMIP Conference in Monaco

The recent FEMIP Conference recommended that the Union and its Member States be asked to support FEMIP’s research and technical assistance capacities in order to provide a better understanding of the challenges of regional economic development and encourage institutional reform. The Conference, organised jointly by the EIB and the Government of Monaco, under the patronage of HSH. The Sovereign Prince, brought together on November 9-10 some 250 experts and professionals in this sector from the 35 Euro-Mediterranean Partnership countries.  In its conclusions, it also proposed that the ability of international financial institutions to take risks in financing infrastructure be enhanced or even that guarantee structures be established covering the “legislation risk”, and that access of private sector or semi-public operators to local currency financing be facilitated. In this connection the Conference encouraged the authorities of the partner countries to consider opening up their financial markets to non-resident borrowers in order to increase their ability to finance in local currency infrastructure that is in the public interest.