Considerations on COM(2016)582 - Amendment of Regulation (EC, Euratom) No 480/2009 establishing a Guarantee Fund for external actions

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dossier COM(2016)582 - Amendment of Regulation (EC, Euratom) No 480/2009 establishing a Guarantee Fund for external actions.
document COM(2016)582 EN
date March 14, 2018
 
table>(1)The Guarantee Fund for external actions (the ‘Fund’) is regulated by Council Regulation (EC, Euratom) No 480/2009 (2).
(2)The Fund is endowed by one annual payment from the general budget of the Union, by interest on Fund resources invested and by amounts recovered from defaulting debtors.

(3)Risk-premium revenues generated under the financing operations of the European Investment Bank (EIB) that benefit from a Union budgetary guarantee should be paid into the Fund.

(4)Where the amount of the Fund exceeds 10 % of the Union's total outstanding capital liabilities, the surplus should be paid back into the general budget of the Union in order to better protect the general budget of the Union against potential additional risk of default of the EIB financing operations addressing the long-term economic resilience of refugees, migrants, host and transit communities, and communities of origin as a strategic response to addressing root causes of migration.

(5)Regulation (EC, Euratom) No 480/2009 should therefore be amended accordingly,