eunbil · GT0N1431 · 2006-07-07 00:00:00 — In order to further increase support for EU external policies in each specific region, the linkage between EIB priorities and EU policies will be strengthened. This will be achieved through a stronger framework for dialogue and cooperation between the EIB and the Commission in the definition of regional policies, country strategies, and at a project level. EIB Financing Operations may be usefully combined with EU budget resources in the form of grant support, risk capital and interest rate subsidies alongside technical assistance for project preparation and implementation or enhancement of the legal and regulatory framework. Objectives, expected results and related indicators of the proposal in the context of the ABM framework The main objective of the proposal is to further the contribution of the EIB to the fulfilment of EU policy objectives, through the financing of investment projects. The objectives to be sought by EIB Financing Operations under the mandate will vary across the different regions and are detailed in the proposed legal act. Encouraging cooperation with other International Financial Institutions (IFIs) is also an important objective of the proposed Decision. The attainment of objectives will primarily be measured by the volume of EIB Financing Operations by regions and by sector, as well as by the volume of EIB Financing Operations co-financed with other IFIs and/or Commission programmes. Method of Implementation (indicative) ( directly by the Commission ( indirectly by delegation to: ( bodies set up by the Communities as referred to in art. 185 of the Financial Regulation ( national public-sector bodies/bodies with public-service mission ( Shared or decentralised management ( with Member states ( with Third countries ( Joint management with international organisations (please specify) In line with existing provisions, the proposal foresees that EIB is mandated by the Council to finance investment projects in accordance with its own rules and procedures. The Commission is responsible for managing the Community guarantee. The EIB and the Commission shall enter into an agreement laying down the detailed provisions and procedures relating to the implementation of this Decision. EIB Financing Operations under Community guarantee will be managed by the EIB in accordance with the Bank"s own rules and procedures, including appropriate audit, control and monitoring measures. As foreseen in the EIB statute, , which is supported by external auditors, is responsible for verifying that the operations of the Bank have been conducted and its books kept in a proper . The EIB accounts are approved annually by its . Furthermore, , where the Commission is represented by a Director and an alternate Director, approves each EIB Financing Operation and monitors that the Bank is managed in accordance with its Statute and with the general directives laid down by . The existing tripartite agreement between the Commission, the Court of Auditors and the EIB, renewed most recently in October 2003 details the rules under which the Court of Auditors is to carry out its audits on the EIB Financing Operations under Community guarantee. As per Article 7 of the proposal, the Commission shall report to Parliament and the Council each year on the EIB Financing Operations carried out under this Decision, drawing upon yearly reports prepared by the EIB, providing information on financing granted in the different regions or sectors and on cooperation with other IFIs. Furthermore, the EIB shall provide the Commission with statistical, financial and accounting data on each of the EIB Financing Operations as necessary to fulfil its reporting duties or requests by Court of Auditors as well as an auditors certificate on the outstanding amounts of the EIB Financing Operations. The legislative proposal is accompanied by a Commission report including a detailed assessment of the existing Community Guarantee to EIB extra-EU operations. The report also contains in a separate annex an analysis of future needs in the various regions covered by the mandate, including their absorption capacity, and outlines how the proposed mandate responds to anticipated need. Measures taken following an intermediate/ex-post evaluation (lessons learned from similar experiences in the past) Experience from the operation of the current Community Guarantee has led to some proposed modifications to its modalities, notably in terms of geographical coverage, definition of the scope of the EIB mandate in the different regions, the addition of a Reserve Mandate, a strengthening of the linkage between the EIB activities and the EU external priorities and a consequent reinforcement of the cooperation between the Commission and the EIB, as well as a clarification of risks covered by the Guarantee. The proposed mandate will also cover guarantees of the EIB, extending beyond coverage for loans only under the previous mandates. Terms and frequency of future evaluation The proposal provides for the preparation of a mid term review on the EIB mandate by 30 2010, which would allow, if necessary, for a refocusing of the priorities set out in the legal basis. It would be prepared by the Commission based inter alia on an activity report from the EIB as well as an evaluation provided by the independent evaluation department of the EIB. The Commission will prepare a final report on the EIB mandate by 31 2013 "s rules and procedures include detailed arrangements to fight against fraud and corruption. In particular, in 2004, has approved a decision relating to procedures for cooperation with and consequently has adapted its internal procedures. Objectives of the proposal in terms of their financial cost (EUR million) (Headings of Objectives, actions and outputs should be provided) Type of output 2008 2009 2010 2011 2012 2013 EIB Financing Total cost No. outputs Total cost No. outputs Total cost No. outputs Total cost No. outputs Total cost No. outputs Total cost No. outputs Total cost Indicative volume of signed EIB Financing Operations (new mandate) 3,478 3,826 4,209 4,629 5,093 5,602 6,162 Outstanding amount based on estimated disbursements and amortizations of EIB operations (and new mandates) 10,4851 12,175 14,342 16,696 19.175 21,736 24,433 Outstanding amount based on estimated disbursements and amortizations of other operations (MFA+ Euratom) 1,1502 1,358 1,310 1,227 1,141 1004 841 Total outstanding amount based on estimated disbursements and amortizations 11,6353 13,533 15,653 17,923 20,316 22,740 25,274 Target amount @ 1,047 1,218 1,409 1,613 1,828 2,047 2,275 Budgetary revenues 0 157 2 0 0 0 0 Normal provisioning needs 0 0 0 129 153 160 165 Maximum budgetary needs 0 0 135 271 302 316 329 1 Including estimated impact of enlargement (1,995) 2 Including estimated impact of enlargement (830) 3 Including estimated impact of enlargement (2825) Number and type of human resources Types of post Staff to be assigned to management of the action using existing and/or additional resources (number of posts/FTEs) 2007 2008 2009 2010 2011 2012-13 Officials or temporary staff (XX 01 01) A*/AD 4 4 4 4 4 8 B*, C*/AST 3 3 3 3 3 6 Staff financed by art. XX 01 02 Other staff financed by art. XX 01 04/05 TOTAL 7 7 7 7 7 14 8.2.2. Description of tasks deriving from the action The main tasks arising from the management of the Community guarantee are the following: - Preparation of legislative proposals and guarantee agreements; - Management of the approval procedure; - Administration of the annual budgetary procedure; - Annual reporting to the Council and Parliament; - Handling of calls; - Monitoring of the management of the ; - Relations with the Court of Auditors, Parliament and Council. Sources of human resources (statutory) ( Posts currently allocated to the management of the programme to be replaced or extended ( Posts pre-allocated within the APS/PDB exercise for year 2007 ( Posts to be requested in the next APS/PDB procedure ( Posts to be redeployed using existing resources within the managing service (internal redeployment) ( Posts required for year n although not foreseen in the APS/PDB exercise of the year in question The needs for human and administrative resources shall be covered within the allocation granted to the managing service in the framework of the annual allocation procedure. Other Administrative expenditure included in reference amount (XX 01 04/05 - Expenditure on administrative management) EUR million (to 3 decimal places) (number and heading) 2007 2008 2009 2010 2011 2012-2013 TOTAL 1 Technical and administrative assistance (including related staff costs) Executive agencies Other technical and administrative assistance - intra muros - extra muros Total Technical and administrative assistance - - - - - - - 8.2.5. Financial cost of human resources and associated costs not included in the reference amount EUR million (to 3 decimal places) Type of human resources 2007 2008 2009 2010 2011 2012-2013 Officials and temporary staff (XX 01 01) 0.756 0.756 0.756 0.756 0.756 1.512 Staff financed by Art XX 01 02 (auxiliary, END, contract staff, etc.) (specify budget line) - - - - - - Total cost of and associated costs (NOT in reference amount) 0.756 0.756 0.756 0.756 0.756 1.512 8.2.6. Other administrative expenditure not included in reference amount EUR million (to 3 decimal places) 2007 2008 2009 2010 2011 2012-2013 TOTAL XX 01 02 11 01 - Missions XX 01 02 11 02 - Meetings & Conferences XX 01 02 11 03 - Committees XX 01 02 11 04 - Studies & consultations XX 01 02 11 05 - Information systems 2 Expenditure (XX 01 02 11) 3 Other expenditure of an administrative nature (specify including reference to budget line) Total Administrative expenditure, other than human resources and associated costs (NOT included in reference amount) - - - - - - - OJ C , , p. OJ C , , p. OJ L 9, , p.024, Decision as last amended by Decision 2006/174/EC (OJ L 62, , p.26) OJ L 292, 9.11.2001, p.41 OJ L 21, 25.1.2005, p.11 COM(2004) 627 final. COM(2004) 628 final. COM(2004) 629 final. COM(2005) 561 final. COM(2004) 373 final. COM(2005) 636 final. COM(2003) 399 final. COM(2004) 630 final. OJ L 184, , p. OJ L 293, 12.11.1994, p.1, Regulation as last amended by Regulation (EC, Euratom) No 2273/2004 (OJ L 396, 31.12.2004, p. COM(2005) 130 final. Non-differentiated appropriations hereafter referred to as NDA. million/year stem from the activation of the guarantee in case of major defaults (see "smoothing mechanism" in COM(2005) 130 of . In order to evaluate implications for the provisioning of possible fluctuations in the asset valuation of the , the following assumptions have been made: - a portfolio duration of 3.3 years; - increase in interest rates per year; - A assets" evolution resulting from the estimated "normal provisioning"; There are no implications for 2007 and 2008 due to the transition period. Expenditure that does not fall under Chapter xx 01 of the Title xx concerned. Expenditure within article xx 01 04 of Title xx. Expenditure within chapter xx 01 other than articles xx 01 04 or xx 01 05. See points 19 and 24 of the Interinstitutional agreement. Cost of which is NOT covered by the reference amount. Cost of which is NOT covered by the reference amount. Cost of which is included within the reference amount. Reference should be made to the specific legislative financial statement for the (ies) concerned. Specify the type of committee and the group to which it belongs.