The European Investment Bank (EIB) has granted the first financing under the newly created Facility for Euro-Mediterranean Investment and Partnership (FEMIP) Technical Assistance Fund for the Port of Tartous in Syria.
The technical assistance will support the Tartous Port Authority in port management and project planning and will underpin the EIB loan of €50 million signed with the Syrian Ministry of Transport in May last year for the modernization and expansion of Tartous Port over the period 2003-2006.
The international consultancy firm Kampsax, member of the COWI group, has been selected to carry out the first phase of the Technical Assistance. The consultants have started their assignment, which is expected to last about six months.
The FEMIP Technical Assistance Fund was established in 2003 as part of EIB's increased role in support of Mediterranean Partner Countries under the EU Barcelona Process. The FEMIP Fund will help accelerate and enhance the preparation and implementation of investment projects in the Mediterranean region.
The fund has grants totaling €105 million to extend for Technical Assistance over the next four years. Works and services under the FEMIP Fund are procured in line with the EU-MEDA regulation. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
