Report from the Commission to the European Parliament and the Council on 2014 EIB external activity with EU budgetary guarantee

Decisions 1080/2011/EU and 466/2014/EU of the European Parliament and of the Council of 25 October 2011 and 16 April 2014 respectively grant an EU guarantee to the European Investment Bank (EIB) against losses under EIB financing operations for projects outside the Union over the periods 2007-2013 and 2014-2020 respectively. These Decisions require the Commission to report annually on EIB external activities with the EU budgetary guarantee, building on yearly reports provided by EIB.

Following the extension by six months of Decision 1080/2011/EU until 30 June 2014 and the adoption of Decision 466/2014/EU over 2014-2020, the present report covering the year 2014 has been prepared on the requirements of these two legal bases. This report also provides a summary of the own risk operations carried out by the EIB in 2014 in the regions covered by the Decisions. The EIB operations in Africa, Caribbean and Pacific (ACP) as well as in Overseas Countries and Territories (OCT) are covered in a separate annual report.

The new Decision 466/2014/EU adopted on 16 April 2014 (the "Mandate") sets a maximum ceiling for the EU guarantee of €30 billion broken down into a fixed ceiling amounting to €27 billion and an optional additional amount of €3 billion. The activation of the optional amount as well as its regional distribution shall be decided by the European Parliament and the Council following the mid-term review of the Mandate. In the new Decision, the three high level objectives for extending the EU guarantee remain unchanged: promoting growth in the local private sector, developing social and economic infrastructure, climate action and, as an underlying objective, fostering regional integration. The Mandate entered into force with the signing of the Guarantee agreement on 25 July 2014.

More detailed information and statistical tables on the above activities, including at project, sector, country and regional level, are provided in the attached Staff Working Document (SWD). Following the third year of implementation of the EIB REsults Measurement (ReM) framework, this report provides information on expected results based on EIB financing operations signed in 2014. Actual results achieved based on the first ReM Project Completion Reviews or on case studies on operations approved before ReM and having reached completion are presented in the SWD.

EUR-Lex: SWD(2015)285: Commission Staff Working Document accompanying the report http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=SWD:2015:285:FIN

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