One of the defining features of FEMIP is the close involvement of the Mediterranean partner countries in its lending policy guidelines.
When FEMIP was established in 2002, a Policy Dialogue and Coordination Committee (PDCC) was set up, bringing together representatives of the European and Mediterranean partners each year to discuss economic and financial matters.
In December 2003, it was decided to go a step further and establish a fully fledged FEMIP Ministerial Committee, which, for the first time, provided the 37 Euro-Mediterranean Finance Ministers with a formal framework for discussing reforms to enable regional development.
The FEMIP Committee was established at the beginning of 2007 and brings together two to four times a year representatives of the Member States, the partner countries and the European Commission. Its purpose is to discuss FEMIP’s strategy and annual report and deliver opinions on FEMIP’s sectoral strategy and the launch of new financial products.
This Committee represents a further step towards developing the Euro-Mediterranean dialogue in the FEMIP framework. It replaces the FEMIP Committee of Experts, which was set up at the beginning of 2004.