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Economic and Social Policies, EU Financing / Budgetary Affairs, PUBLICATIONS

Guarantee Fund for External Action and EIB external lending mandate [EU Legislation in Progress]

Written by Alina Dobreva with Matthew Parry (1st edition),

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© johnsroad7 / Fotolia

In response to a sharp increase in the number of people trying to migrate to Europe illegally, and as part of the mid-term review of the European Investment Bank’s external lending mandate (ELM), the Commission has proposed an external investment plan to tackle the root causes of migration from countries neighbouring the European Union, consisting of a European Fund for Sustainable Development (EFSD) and quantitative and qualitative changes to the ELM. These changes entail two legislative proposals. A compromise package has been agreed in trilogue between Council and Parliament, with the vote in plenary scheduled for the February I plenary.



Proposal for a regulation of the European Parliament and of the Council amending Regulation (EC, Euratom) No 480/2009 establishing a Guarantee Fund for External Actions; Proposal for a decision of the European Parliament and of the Council amending Decision No 466/2014/EU granting an EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union
Committee responsible: Budgets (BUDG) COM(2016) 582, COM(2016) 583 of 14.9.2016

procedure ref.: 2016/0274(COD), 2016/0275(COD)

Ordinary legislative procedure (COD) (Parliament and Council on equal footing – formerly ‘co-decision’)

Rapporteur: Eider Gardiazabal Rubial (S&D, Spain)
Shadow rapporteurs:





Siegfried Mureşan (EPP, Romania)

Gérard Deprez (ALDE, Belgium)

Xabier Benito Ziluaga (GUE/NGL, Spain) and Liadh Ní Riada (GUE/NGL, Ireland)

Heidi Hautala (Greens/EFA, Finland)

Marco Zanni (ENF, Italy)

Next steps expected: First reading in plenary

Stage: vote in plenary


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