Europeans pledge 12.7 billion Euros to Euro-Med partnership for six coming years
Regional-European Union, Economics, 11/17/2000
European officials who attended the Marseilles Conference pledged 12.75 billion EUROS to Euro-Mediterranean partnership for the coming six years.
A total of 6.4 billion EUROS will be granted as loans by the European Investment Bank (EIB), the MEDA-II subsidy program gets 5.35 billion EUROS and the remaining one billion EUROS will be used by EIB in operations not guaranteed by the Union.
Figures were released Thursday in a meeting devoted to economic matters where Morocco presented an assessment of the EuroMed for the last five years and a new approach to the partnership for the years to come.
Southern countries, indeed, complained of MEDA I complex procedures which only allowed for the use of 26% of the 3.4 billion EUROS pledged. European officials said in Marseilles the unused 74% will not be annulled.
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Some 8.5 million EUROS for the Middle East
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