Decision 2018/412 - Amendment of 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 - Main contents
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official title
Decision (EU) 2018/412 of the European Parliament and of the Council of 14 March 2018 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| Legal instrument | Decision |
|---|---|
| Number legal act | Decision 2018/412 |
| Original proposal | COM(2016)583  |
| CELEX number i | 32018D0412 |
| Document | 14-03-2018; Date of signature |
|---|---|
| Publication in Official Journal | 19-03-2018; OJ L 76 p. 30-43 |
| Signature | 14-03-2018 |
| Effect | 08-04-2018; Entry into force Date pub. +20 See Art 2 |
| End of validity | 31-12-2021; Implicitly repealed by 32021R0947 |
19.3.2018 |
EN |
Official Journal of the European Union |
L 76/30 |
DECISION (EU) 2018/412 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL
of 14 March 2018
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
THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty on the Functioning of the European Union, and in particular Articles 209 and 212 thereof,
Having regard to the proposal from the European Commission,
After transmission of the draft legislative act to the national parliaments,
Acting in accordance with the ordinary legislative procedure (1),
Whereas:
(1) |
The international community faces an unprecedented migration and refugee crisis, which requires solidarity and the efficient mobilisation of financial resources and calls for the existing challenges to be confronted and surmounted in a concerted manner. All actors need to work together to apply sustained medium- and long-term policies and make efficient use of existing programmes in order to develop and support initiatives which contribute to the United Nations (UN) sustainable development goals and to addressing the political, social, economic and environmental factors that constitute the root causes of migration, including, but not limited to, poverty, inequality, demographic growth, lack of employment, limited access to education and economic opportunities, instability, conflict, climate change and the long-term consequences of forced displacement. |
(2) |
While providing resources to address the root causes of migration is of paramount importance, the Union remains fully committed to policies in other areas of key strategic priority as outlined in the Global Strategy for the European Union's Foreign and Security Policy. |
(3) |
A new results-oriented partnership framework with third countries which takes account of all Union policies and instruments has been developed. As part of that new partnership framework, the Union's External Investment Plan has been established in order to support investments in regions outside the Union while contributing to the achievement of the UN sustainable development goals and addressing the root causes of migration. It should also contribute to fulfilling the objectives of the UN 2030 Agenda for Sustainable Development and of the Paris Agreement adopted under the UN Framework Convention on Climate Change (the ‘Paris Agreement’), as well as the objectives pursued by other financing instruments for external action. |
(4) |
On 28 June 2016, the European Council endorsed the proposal of the European Investment Bank (EIB) to contribute to the External Investment Plan through the EIB Resilience Initiative, which is designed to foster investments in the Southern Neighbourhood and Western Balkans. |
(5) |
A key component of the EIB Resilience Initiative is the expansion, in both quantitative and qualitative terms, of the EIB External Lending Mandate. This should enable the EIB to rapidly contribute to the objectives of the External Investment Plan, in particular by providing additional financing to private-sector beneficiaries, with a view to crowding in private investments and boosting long-term investment. |
(6) |
The Strategic Board of the European Fund for Sustainable Development, where the EIB is represented, will provide guidance on complementarity between the EIB Resilience Initiative and the components of the External Investment Plan in line with its rules of procedure and without prejudice to the EIB's internal governance rules. |
(7) |
A budgetary guarantee for financing operations carried out outside the Union (the ‘EU guarantee’) was granted to the EIB by means of Decision No... |
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