FEMIP secures a EUR100m package to help modernise municipalities in Syria

Philippe de Fontaine Vive, Vice-President of the EIB in charge of FEMIP conveyed his enthusiasm on the occasion of the signature ceremony in Paris on 20 November:

"I am delighted that the Bank's loan will help consolidate contemporary urban planning and high environmental standards in Syria, improving priority infrastructure and the quality of local life is essential. I look forward to working closely with the EIB and benefiting from its proven expertise in municipal infrastructure and sustainable social and economic development".

said Dr. Tamer Al Haja, Minister for Local Administration.

The proposed framework facility concerns the financing of different investment schemes in Syrian cities mainly covering the fields of urban renewal, urban traffic and transport, public tourist facilities, wastewater, treatment of liquid waste from industry and solid waste management. This multi-scheme programme is the first of its kind to be approved by the EIB for the Syrian Arab Republic. The project aims to stimulate local economic growth, an objective set out by the European Neighbourhood and Partnership Instrument (ENPI).

The project is complementary to the European Commission (EC) Municipal Administration Modernisation (MAM) Programme, aimed at supporting the needs of cities for administrative improvements. A FEMIP Support Fund Technical Assistance is expected, in order to assist the Ministry of Local Administration during project implementation. The EC is currently preparing a separate Financing Agreement that would allow a EUR5m grant to be allocated to the Promoter in support of the environmental schemes financed under the EIB investment programme.