BMENA: SPAIN AND FUND FOR THE FUTURE

UNCLAS MADRID 003747

SIPDIS

PLEASE PASS NEA/FO KING MALLORY AND EB/ERA LOUIS BONO

E.O. 12958: N/A
TAGS: EAID EFIN PGOV PHUM PREL EINV SP
SUBJECT: BMENA: SPAIN AND FUND FOR THE FUTURE

REF: A) STATE 189774

According to Ramon Guzman Zapater, Director General for
International Finance at the Ministry of Economy and Finance,
EU governments will consider contributing to the Fund for the
Future through the European Fund for the Mediterranean
(FEMIP),administered by the EIB. He thought a contribution
through FEMIP would be viewed positively (by the Spanish,)
since the objectives of the Fund for the Future coincide with
those of FEMIP, but that a contribution would depend on
majority support by member states. Spain's contribution to
the Fund would have to come through the EIB; it will not
contribute to the Fund bilaterally. (If the EIB decided
against participating in the Fund for the Future we could
revisit this with the Spanish.)
MANZANARES