Report from the Commission to the European Parliament and the Council on the Guarantee Fund for External Action and its management in 2015

Council Regulation (EC, Euratom) No 480/2009 of 25 May 2009 (codified version) established a Guarantee Fund for external actions in order to repay the Union’s creditors in the event of default by beneficiaries of loans granted or guaranteed by the European Union.

In accordance with Article 7 of the Regulation, the Commission entrusted the financial management of the Fund to the European Investment Bank (EIB) under an agreement between the Community and the EIB dated 25 November 1994, and subsequently amended on 23 September 1996, 8 May 2002, 25 February 2008 and 9 November 2010.

Article 8 of the Regulation requires the Commission to send a report to the European Parliament, the Council and the Court of Auditors on the situation of the Fund and the management thereof for each financial year by 31 May of the following year.

This report together with the Commission Staff Working Document (SWD) provides this information. It is based on data received from the EIB, in line with the agreement.

• Primary Source

EUR-Lex: SWD(2016)220: Commission Staff Working Document accompanying the report http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=SWD:2016:220:FIN

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