Presidency will enter negotiations with European Parliament on EIB support to investment projects outside the EU

10 October 2013, Last updated at, 22:34 EEST
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author: EIB

The Committee of Permanent Representatives (COREPER II) has on October 9 in Brussels authorized the Lithuanian Presidency to start discussions with the European Parliament and the Commission on the EU guarantee to the European Investment Bank to finance operations supporting investment projects outside the Union.

COREPER confirmed the negotiating mandate, including on the regional ceilings for EIB financing operations under EU guarantee, for the position to be taken by the Presidency at the forthcoming informal trilogue scheduled to take later this month. The negotiations will aim at reaching an agreement in first reading regarding the Proposal for Decision of the European Parliament and of the Council on granting EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union.

The proposal aims to ensure the continuation of the EU guarantee for EIB external financing for the EU multiannual budget of 2014–2020 with clearly defined objectives, such as: local private sector development, in particular support to SMEs; development of social, environmental and economic infrastructure; enhanced focus on climate change mitigation and adaptation. The effort is also made to better align EIB financing with the Union policies.

The proposal foresees a maximum ceiling of the EIB financing operations under EU guarantee of EUR 28 billion throughout the 2014–2020 period. This maximum ceiling shall be broken down into two parts: a fixed ceiling of a maximum amount of EUR 25 billion; and an optional additional amount of EUR 3 billion. The activation in whole or in part of this optional amount and its regional distribution will be decided under ordinary legislative procedure following a mid-term review.

Background
 
The overall scope and general conditions of the EU guarantee coverage for EIB external operations are set out in decisions of the European Parliament and of the Council. The most recent decision covering the EIB financing operations outside the Union over the period beginning on 1 February 2007 and ending on 31 December 2013 was established by Decision No 1080/2011/EU of the European Parliament and of the Council. It requires the Commission to present to the European Parliament and to the Council a proposal for establishing the EU guarantee under the next multiannual financial framework.

The proposed new decision will cover the EU guarantee for EIB external financing operations over the period beginning on 1 January 2014 and ending on 31 December 2020.

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