Decision 2021/2180 - EU position in the written procedure by the Participants to the Arrangement on Officially Supported Export Credits as regards the Common Line on the temporary decrease of the minimum down payment

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Contents

  1. Current status
  2. Key information
  3. Key dates
  4. Legislative text
  5. Original proposal
  6. Sources and disclaimer
  7. Full version
  8. EU Monitor

1.

Current status

This decision has been published on December 10, 2021 and entered into force on September 28, 2021.

2.

Key information

official title

Council Decision (EU) 2021/2180 of 28 September 2021 on the position to be taken on behalf of the European Union in the written procedure by the Participants to the Arrangement on Officially Supported Export Credits as regards the Common Line on the temporary decrease of the minimum down payment
 
Legal instrument Decision
Number legal act Decision 2021/2180
Regdoc number ST(2021)11589
Original proposal COM(2021)498 EN
CELEX number i 32021D2180

3.

Key dates

Document 28-09-2021; Date of adoption
Publication in Official Journal 10-12-2021; OJ L 443 p. 73-74
Effect 28-09-2021; Entry into force Date of document See Art 2
End of validity 31-12-9999

4.

Legislative text

10.12.2021   

EN

Official Journal of the European Union

L 443/73
 

COUNCIL DECISION (EU) 2021/2180

of 28 September 2021

on the position to be taken on behalf of the European Union in the written procedure by the Participants to the Arrangement on Officially Supported Export Credits as regards the Common Line on the temporary decrease of the minimum down payment

THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 207(4), first subparagraph, in conjunction with Article 218(9) thereof,

Having regard to the proposal from the European Commission,

Whereas:

 

(1)

The guidelines contained in the Arrangement on Officially Supported Export Credits (the ‘Arrangement’) has been transposed, and hence been made legally binding in the European Union by Regulation (EU) No 1233/2011 of the European Parliament and of the Council (1).
 

(2)

The Participants in the Arrangement (the ‘Participants’) are to decide, in a written procedure, on the European Union’s proposal for a Common Line in accordance with Chapter IV, Section 5 of the Arrangement to allow a temporary decrease of the minimum down payment required pursuant to Article 11 a) of the Arrangement (the ‘proposed Common Line’), in the light of the current COVID-19 economic downturn.
 

(3)

The proposed Common Line would allow public purchasers in low and middle income countries, that buy goods and services which are the subject of official export credit support, to make down payments of a minimum of 5 % of the export contract value for a period of 12 months, instead of 15 % as required by Article 11 a) of the Arrangement. This would in turn mean increasing the limit for maximum official support that the Participants may provide pursuant to Article 11 c) of the Arrangement, from a ceiling of 85 % up to 95 % of the export contract value, for the same time period.
 

(4)

This exceptional measure is necessary to react to the economic downturn resulting from the COVID-19 sanitary crisis and reduce the severe impact of the crisis on carrying out important projects in low and middle income countries by the Union’s industry.
 

(5)

It is appropriate to establish the position to be taken on the Union’s behalf regarding the proposed Common Line in the written procedure by the Participants, as the proposed Common Line, once agreed, will be capable of decisively influencing the content of Union law by virtue of Regulation (EU) No 1233/2011,

HAS ADOPTED THIS DECISION:

Article 1

The position to be taken on the Union’s behalf in the written procedure by the Participants to the Arrangement on Officially Supported Export Credits as regards the proposal for a Common Line on the temporary decrease of the minimum down payment shall be based on the Draft Proposal by the European Union for a Common Line (2).

Article 2

This Decision shall enter into force on the date of its adoption.

Done at Brussels, 28 September 2021.

For the Council

The President

  • S. 
    KUSTEC
 
  • (1) 
    Regulation (EU) No 1233/2011 of the European Parliament and of the Council of 16 November 2011 on the application of certain guidelines in the field of officially supported export credits and repealing Council Decisions 2001/76/EC and 2001/77/EC (OJ L 326, 8.12.2011, p. 45).
  • (2) 
    See document ST11591/21 at http://register.consilium.europa.eu
 

More

This text has been adopted from EUR-Lex.

5.

Original proposal

 

6.

Sources and disclaimer

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7.

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8.

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