European Parliament Alerts from the Budgets committee

Highlights - Vote on EU guarantee to the European Investment Bank and External Guarantee Fund - Committee on Budgets 05-12-2017 02:05 PM CET On 29 November, EP and Council reached a provisional agreement on the External Lending Mandate and the Guarantee Fund for External Actions (GFEA). The agreement's terms were adopted in BUDG on 4 December. Under the ELM, the EU provides a budgetary guarantee to the EIB for loan and loan guarantee operations outside the EU in support of EU external policy objectives. The GFEA protects the EU budget from shocks that might otherwise occur in case of defaults on loans guaranteed by the EU. A total of 9 trilogues took place since the start of negotiations on 12 April. Agreed new elements include: to introduce a fourth high-level objective for the mandate addressing root causes of migration; to release the optional EUR 3 billion mandate; to create an additional maximum ceiling for the EIB's private sector mandate amounting to EUR 2.3 billion, while introducing a comprehensive guarantee for private sector operations directly linked to refugees and host communities, thus extending the coverage of the EU guarantee to commercial risks. The co-legislators also reached agreement on: greater flexibility between region envelopes to optimise the use of the Guarantee, a gender perspective applied to all financing operations, strengthened human rights monitoring and transparency, stronger provisions on non-cooperative jurisdictions, and an independent external evaluation of the advantages/disadvantages of entrusting asset management of the GFEA to the Commission, the EIB or both. Further information Meeting documents Webstreaming Source : © European Union, 2017 - EP Latest news - Next meeting of the Committee on Budgets - Committee on Budgets 05-12-2017 02:02 PM CET 24 - 25 January 2018 Further information Webstreaming Meeting documents Source : © European Union, 2017 - EP QUESTIONS? STAY CONNECTED  Contact Us |   This email was sent on behalf of the European Parliament · Bât. Altiero Spinelli · 60 rue Wiertz / Wiertzstraat 60 · B-1047 - Bruxelles/Brussels  · Belgium · Phone: +32(0)2 28 42111