FEMIP: EUROMED Fund launched in Milano

Under its Facility for Euro-Mediterranean Investment and Partnership (FEMIP), the European Investment Bank (EIB) is participating to the tune of EUR 10 million in the launch of EUROMED - Fondo Comune di Investimento Mobiliare di tipo Chiuso (Euromed Fund).

Focusing on investment in small and medium-sized enterprises in Algeria, Egypt, Morocco, Tunisia and other Mediterranean Partner Countries, the Fund is being sponsored by the Lombardy Region in Italy, through its financial arm Finlombarda SpA, and the Milan Chamber of Commerce. The fund is managed by Finlombarda Gestioni SGR S.p.A., a majority-owned subsidiary of Finlombarda authorised by Bank of Italy to manage funds (Societa’ di Gestione del Risparmio).

As the Euromed Fund is based in Italy, in order to ensure local presence the fund manager has contracted local advisors based in North Africa with a good knowledge of their respective countries of operation and the ability to actively monitor companies in the fund’s portfolio.