# CE2013264EN.01011901.xml

| 13.9.2013 | EN | Official Journal of the European Union | CE 264/119 |
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13.9.2013

EN

Official Journal of the European Union

CE 264/119

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Thursday 24 May 2012Macro-Financial Assistance to third countries ***I

P7_TA(2012)0220

Amendments adopted by the European Parliament on 24 May 2012 to the proposal for a regulation of the European Parliament and of the Council laying down general provisions for Macro-Financial Assistance to third countries (COM(2011)0396 – C7-0187/2011 – 2011/0176(COD)) (1)

1

2013/C 264 E/25

(Ordinary legislative procedure: first reading)

| TEXT PROPOSED BY THE COMMISSION | AMENDMENT |
| --- | --- |
| Amendment 1 |
| Proposal for a regulation


  Title |
| | |
| Amendment 2 |
| Proposal for a regulation


  Recital 1 a (new) |
| | (1a) | Union macro-financial assistance should be used to provide exceptional financial assistance to third countries that have run into temporary balance of payment difficulties. Unlike other Union instruments providing direct support for its external policies (such as the Instrument for Pre-accession Assistance

   (2),
  the European Neighbourhood Instrument

   (3),
  the Development Cooperation Instrument

   (4)

  etc), macro-financial assistance should not be used to provide regular financial support nor have as its primary aim supporting the economic and social development of the beneficiary countries. Nor should macro-financial assistance be used akin to conditional debt forgiveness grants. |

TEXT PROPOSED BY THE COMMISSION

AMENDMENT

Amendment 1

Amendment 1

Proposal for a regulation

Proposal for a regulation

Title

Title

Amendment 2

Amendment 2

Proposal for a regulation

Proposal for a regulation

Recital 1 a (new)

Recital 1 a (new)

(1a)

(1a)

Union macro-financial assistance should be used to provide exceptional financial assistance to third countries that have run into temporary balance of payment difficulties. Unlike other Union instruments providing direct support for its external policies (such as the Instrument for Pre-accession Assistance

   (2),
  the European Neighbourhood Instrument

   (3),
  the Development Cooperation Instrument

   (4)

  etc), macro-financial assistance should not be used to provide regular financial support nor have as its primary aim supporting the economic and social development of the beneficiary countries. Nor should macro-financial assistance be used akin to conditional debt forgiveness grants.

Union macro-financial assistance should be used to provide exceptional financial assistance to third countries that have run into temporary balance of payment difficulties. Unlike other Union instruments providing direct support for its external policies (such as the Instrument for Pre-accession Assistance

2

the European Neighbourhood Instrument

3

the Development Cooperation Instrument

4

etc), macro-financial assistance should not be used to provide regular financial support nor have as its primary aim supporting the economic and social development of the beneficiary countries. Nor should macro-financial assistance be used akin to conditional debt forgiveness grants.

Amendment 3

Amendment 3

Proposal for a regulation

Proposal for a regulation

Recital 2

Recital 2

| (2) | At present, macro-financial assistance to third countries is based on ad-hoc country specific decisions of the European Parliament and of the Council. This reduces
  the efficiency and effectiveness of the assistance
  by causing unnecessary delays between requests for macro-financial assistance and their actual implementation
  . |
| --- | --- |

(2)

At present, macro-financial assistance to third countries is based on ad-hoc country specific decisions of the European Parliament and of the Council. This reduces
  the efficiency and effectiveness of the assistance
  by causing unnecessary delays between requests for macro-financial assistance and their actual implementation
  .

At present, macro-financial assistance to third countries is based on ad-hoc country specific decisions of the European Parliament and of the Council. This reduces

by causing unnecessary delays between requests for macro-financial assistance and their actual implementation

| (2) | The framework regulation aims at clarifying the rules and improving
  the efficiency and effectiveness of the
  Union
  assistance,
  inter alia by strengthening the application of the pre-conditions, improving transparency and formalising the political assessment by the Commission, and by improving the democratic effectiveness and democratic scrutiny
  . |
| --- | --- |

(2)

The framework regulation aims at clarifying the rules and improving
  the efficiency and effectiveness of the
  Union
  assistance,
  inter alia by strengthening the application of the pre-conditions, improving transparency and formalising the political assessment by the Commission, and by improving the democratic effectiveness and democratic scrutiny
  .

The framework regulation aims at clarifying the rules and improving

Union

inter alia by strengthening the application of the pre-conditions, improving transparency and formalising the political assessment by the Commission, and by improving the democratic effectiveness and democratic scrutiny

Amendment 4

Amendment 4

Proposal for a regulation

Proposal for a regulation

Recital 3

Recital 3

| (3) | A framework for delivering macro-financial assistance to third countries
  with which the Union has important political, economic and commercial ties
  should
  make the assistance more effective. In particular, it should be possible to provide macro-financial assistance to third countries to
  encourage them to adopt economic policy measures likely to solve a balance of payments crisis. |
| --- | --- |

(3)

A framework for delivering macro-financial assistance to third countries
  with which the Union has important political, economic and commercial ties
  should
  make the assistance more effective. In particular, it should be possible to provide macro-financial assistance to third countries to
  encourage them to adopt economic policy measures likely to solve a balance of payments crisis.

with which the Union has important political, economic and commercial ties

make the assistance more effective. In particular, it should be possible to provide macro-financial assistance to third countries to

| (3) | A framework for delivering macro-financial assistance to third countries should encourage them to adopt economic policy measures likely to solve a balance of payments crisis. |
| --- | --- |

(3)

A framework for delivering macro-financial assistance to third countries should encourage them to adopt economic policy measures likely to solve a balance of payments crisis.

Amendment 5

Amendment 5

Proposal for a regulation

Proposal for a regulation

Recital 5

Recital 5

| (5) | The adoption of a general regulation for macro-financial assistance based on Articles 209 and 212 is without prejudice to the provisions of Article 213 of the Treaty, governing urgent financial assistance to third countries, and of the related prerogatives of the Council. |
| --- | --- |

(5)

(5)

The adoption of a general regulation for macro-financial assistance based on Articles 209 and 212 is without prejudice to the provisions of Article 213 of the Treaty, governing urgent financial assistance to third countries, and of the related prerogatives of the Council.

The adoption of a general regulation for macro-financial assistance based on Articles 209 and 212 is without prejudice to the provisions of Article 213 of the Treaty, governing urgent financial assistance to third countries, and of the related prerogatives of the Council.

deleted

deleted

Amendment 6

Amendment 6

Proposal for a regulation

Proposal for a regulation

Recital 7

Recital 7

| (7) | In its conclusions of 8 October 2002, the Council established criteria (the so-called Genval criteria) to guide the
  EU'
  s macro-financial assistance operations. It is appropriate to
  formalise
  these criteria in a legal act
  endorsed
  by
  both
  the Parliament and the Council
  while updating and clarifying them
  . |
| --- | --- |

(7)

In its conclusions of 8 October 2002, the Council established criteria (the so-called Genval criteria) to guide the
  EU'
  s macro-financial assistance operations. It is appropriate to
  formalise
  these criteria in a legal act
  endorsed
  by
  both
  the Parliament and the Council
  while updating and clarifying them
  .

EU'

formalise

endorsed

both

while updating and clarifying them

| (7) | In its conclusions of 8 October 2002, the Council established criteria (the so-called Genval criteria) to guide the
  Union
  macro-financial assistance operations. It is appropriate to
  update and clarify
  these criteria in a legal act
  adopted
  by the
  European
  Parliament and the Council,
  inter alia in relation to the criteria for determining the appropriate form of assistance (loan, grant or combination thereof)
  . |
| --- | --- |

(7)

In its conclusions of 8 October 2002, the Council established criteria (the so-called Genval criteria) to guide the
  Union
  macro-financial assistance operations. It is appropriate to
  update and clarify
  these criteria in a legal act
  adopted
  by the
  European
  Parliament and the Council,
  inter alia in relation to the criteria for determining the appropriate form of assistance (loan, grant or combination thereof)
  .

Union

update and clarify

adopted

European

inter alia in relation to the criteria for determining the appropriate form of assistance (loan, grant or combination thereof)

Amendment 7

Amendment 7

Proposal for a regulation

Proposal for a regulation

Recital 8

Recital 8

| (8) | Appropriate procedures and instruments should be provided for in advance to enable the Union to
  ensure that
  macro-financial assistance
  can be made
  available expeditiously, especially when circumstances call for immediate action.
  This would also
  increase the clarity and transparency of the criteria applicable to the implementation of macro-financial assistance. |
| --- | --- |

(8)

Appropriate procedures and instruments should be provided for in advance to enable the Union to
  ensure that
  macro-financial assistance
  can be made
  available expeditiously, especially when circumstances call for immediate action.
  This would also
  increase the clarity and transparency of the criteria applicable to the implementation of macro-financial assistance.

ensure that

can be made

This would also

| (8) | Appropriate procedures and instruments should be provided for in advance
  in order
  to enable the Union to
  make
  macro-financial assistance available expeditiously, especially when circumstances call for immediate action
  and to
  increase the clarity and transparency of the criteria applicable to the implementation of macro-financial assistance. |
| --- | --- |

(8)

Appropriate procedures and instruments should be provided for in advance
  in order
  to enable the Union to
  make
  macro-financial assistance available expeditiously, especially when circumstances call for immediate action
  and to
  increase the clarity and transparency of the criteria applicable to the implementation of macro-financial assistance.

in order

make

and to

Amendment 8

Amendment 8

Proposal for a regulation

Proposal for a regulation

Recital 9

Recital 9

| (9) | The Commission should ensure that macro-financial assistance is in line with the key principles, objectives and measures taken within the different areas of external action and other relevant Union policies. |
| --- | --- |

(9)

The Commission should ensure that macro-financial assistance is in line with the key principles, objectives and measures taken within the different areas of external action and other relevant Union policies.

| (9) | The Commission should ensure
  in its choice of beneficiary countries and in the content of the Memorandums of Understanding
  that macro-financial assistance is in line with the key principles, objectives and measures taken within the different areas of external action and other relevant Union policies. |
| --- | --- |

(9)

The Commission should ensure
  in its choice of beneficiary countries and in the content of the Memorandums of Understanding
  that macro-financial assistance is in line with the key principles, objectives and measures taken within the different areas of external action and other relevant Union policies.

in its choice of beneficiary countries and in the content of the Memorandums of Understanding

Amendment 9

Amendment 9

Proposal for a regulation

Proposal for a regulation

Recital 9 a (new)

Recital 9 a (new)

| (9a) | Macro-financial assistance is also a tool of Union foreign policy and should serve to enhance the visibility and influence of the Union beyond its borders. Close involvement of the European External Action Service (EEAS) for the purpose of coordination and the consistency of Union external policy should be ensured throughout the whole macro-financial assistance operation. |
| --- | --- |

(9a)

(9a)

Macro-financial assistance is also a tool of Union foreign policy and should serve to enhance the visibility and influence of the Union beyond its borders. Close involvement of the European External Action Service (EEAS) for the purpose of coordination and the consistency of Union external policy should be ensured throughout the whole macro-financial assistance operation.

Macro-financial assistance is also a tool of Union foreign policy and should serve to enhance the visibility and influence of the Union beyond its borders. Close involvement of the European External Action Service (EEAS) for the purpose of coordination and the consistency of Union external policy should be ensured throughout the whole macro-financial assistance operation.

Amendment 10

Amendment 10

Proposal for a regulation

Proposal for a regulation

Recital 10

Recital 10

| (10) | Macro-financial assistance should
  support
  the beneficiary countries'
  commitments
  to common values with the Union, including democracy, the rule of law, good governance, respect for human rights, sustainable development and poverty reduction, as well as to the principles of open, rules-based and fair trade. |
| --- | --- |

(10)

Macro-financial assistance should
  support
  the beneficiary countries'
  commitments
  to common values with the Union, including democracy, the rule of law, good governance, respect for human rights, sustainable development and poverty reduction, as well as to the principles of open, rules-based and fair trade.

support

commitments

| (10) | Macro-financial assistance should
  include measures to improve
  the beneficiary countries'
  commitment
  to common values with the Union, including democracy, the rule of law, good governance, respect for human rights,
  the fight against forced child labour, support for
  sustainable development and poverty reduction, as well as to the principles of open, rules-based and fair trade.
  The fulfilment of these objectives should be regularly monitored by the Commission. |
| --- | --- |

(10)

Macro-financial assistance should
  include measures to improve
  the beneficiary countries'
  commitment
  to common values with the Union, including democracy, the rule of law, good governance, respect for human rights,
  the fight against forced child labour, support for
  sustainable development and poverty reduction, as well as to the principles of open, rules-based and fair trade.
  The fulfilment of these objectives should be regularly monitored by the Commission.

include measures to improve

commitment

the fight against forced child labour, support for

The fulfilment of these objectives should be regularly monitored by the Commission.

Amendment 11

Amendment 11

Proposal for a regulation

Proposal for a regulation

Recital 13

Recital 13

| (13) | Macro-financial assistance should be complementary to the resources provided by the International Monetary Fund and other multilateral financial institutions and there should be a fair burden sharing with other donors. Macro-financial assistance should
  ensure
  the added value of the involvement of the Union. |
| --- | --- |

(13)

(13)

Macro-financial assistance should be complementary to the resources provided by the International Monetary Fund and other multilateral financial institutions and there should be a fair burden sharing with other donors. Macro-financial assistance should
  ensure
  the added value of the involvement of the Union.

ensure

| (11a) | In general
  macro-financial assistance should be complementary to the resources provided by the International Monetary Fund and other
  European or
  multilateral financial institutions and there should be a fair burden sharing with
  those institutions and
  other donors. Macro-financial assistance should
  be provided where it ensures
  the added value of the involvement of the Union. |
| --- | --- |

(11a)

(11a)

In general
  macro-financial assistance should be complementary to the resources provided by the International Monetary Fund and other
  European or
  multilateral financial institutions and there should be a fair burden sharing with
  those institutions and
  other donors. Macro-financial assistance should
  be provided where it ensures
  the added value of the involvement of the Union.

In general

European or

those institutions and

be provided where it ensures

Amendment 12

Amendment 12

Proposal for a regulation

Proposal for a regulation

Recital 13 a (new)

Recital 13 a (new)

| (13a) | In order to ensure that macro-financial assistance can meet the demands caused by urgent economic crises, the Union should ensure that sufficient financial resources are allocated to its budget. It is also necessary to ensure that macro-financial assistance is available to all eligible countries regardless of their economic size and applied appropriately in conjunction with the Union's other external financing instruments. |
| --- | --- |

(13a)

(13a)

In order to ensure that macro-financial assistance can meet the demands caused by urgent economic crises, the Union should ensure that sufficient financial resources are allocated to its budget. It is also necessary to ensure that macro-financial assistance is available to all eligible countries regardless of their economic size and applied appropriately in conjunction with the Union's other external financing instruments.

In order to ensure that macro-financial assistance can meet the demands caused by urgent economic crises, the Union should ensure that sufficient financial resources are allocated to its budget. It is also necessary to ensure that macro-financial assistance is available to all eligible countries regardless of their economic size and applied appropriately in conjunction with the Union's other external financing instruments.

Amendment 13

Amendment 13

Proposal for a regulation

Proposal for a regulation

Recital 14 a (new)

Recital 14 a (new)

| (14a) | In order to achieve a balance between the need for effectiveness and efficiency of Union assistance on the one hand, and greater coherence, transparency and democratic scrutiny on the other, the power to adopt acts in accordance with Article 290 of the Treaty of the Functioning of the European Union should be delegated to the Commission in respect of eligible countries and territories and granting assistance to particular countries and territories. It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert level. The Commission, when preparing and drawing up delegated acts, should ensure a simultaneous, timely and appropriate transmission of relevant documents to the European Parliament and to the Council. |
| --- | --- |

(14a)

(14a)

In order to achieve a balance between the need for effectiveness and efficiency of Union assistance on the one hand, and greater coherence, transparency and democratic scrutiny on the other, the power to adopt acts in accordance with Article 290 of the Treaty of the Functioning of the European Union should be delegated to the Commission in respect of eligible countries and territories and granting assistance to particular countries and territories. It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert level. The Commission, when preparing and drawing up delegated acts, should ensure a simultaneous, timely and appropriate transmission of relevant documents to the European Parliament and to the Council.

In order to achieve a balance between the need for effectiveness and efficiency of Union assistance on the one hand, and greater coherence, transparency and democratic scrutiny on the other, the power to adopt acts in accordance with Article 290 of the Treaty of the Functioning of the European Union should be delegated to the Commission in respect of eligible countries and territories and granting assistance to particular countries and territories. It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert level. The Commission, when preparing and drawing up delegated acts, should ensure a simultaneous, timely and appropriate transmission of relevant documents to the European Parliament and to the Council.

Amendment 14

Amendment 14

Proposal for a regulation

Proposal for a regulation

Recital 15

Recital 15

| (15) | In order to ensure uniform conditions for the implementation of this Regulation,
  as regards the approval and management of macro-financial assistance operations in beneficiary countries
  , implementing powers should be conferred on the Commission. Those powers should be exercised in accordance with Regulation (EU) 182/2011 of the European Parliament and of the Council laying down the rules and general principles concerning mechanisms for control by Member States of the Commission’s exercise of implementing powers. |
| --- | --- |

(15)

In order to ensure uniform conditions for the implementation of this Regulation,
  as regards the approval and management of macro-financial assistance operations in beneficiary countries
  , implementing powers should be conferred on the Commission. Those powers should be exercised in accordance with Regulation (EU) 182/2011 of the European Parliament and of the Council laying down the rules and general principles concerning mechanisms for control by Member States of the Commission’s exercise of implementing powers.

as regards the approval and management of macro-financial assistance operations in beneficiary countries

| (15) | In order to ensure uniform conditions for the implementation of this Regulation, implementing powers should be conferred on the Commission. Those powers should be exercised in accordance with Regulation (EU)
  No
  182/2011 of the European Parliament and of the Council
  of 16 February 2011
  laying down the rules and general principles concerning mechanisms for control by Member States of the Commission’s exercise of implementing powers. |
| --- | --- |

(15)

In order to ensure uniform conditions for the implementation of this Regulation, implementing powers should be conferred on the Commission. Those powers should be exercised in accordance with Regulation (EU)
  No
  182/2011 of the European Parliament and of the Council
  of 16 February 2011
  laying down the rules and general principles concerning mechanisms for control by Member States of the Commission’s exercise of implementing powers.

No

of 16 February 2011

Amendment 15

Amendment 15

Proposal for a regulation

Proposal for a regulation

Recital 16

Recital 16

| (16) | The examination procedure should be used for the adoption of implementing decisions defining the amount, form, duration and general conditions of individual macro-financial assistance operations given that such decisions have substantial budgetary implications. |
| --- | --- |

(16)

(16)

The examination procedure should be used for the adoption of implementing decisions defining the amount, form, duration and general conditions of individual macro-financial assistance operations given that such decisions have substantial budgetary implications.

The examination procedure should be used for the adoption of implementing decisions defining the amount, form, duration and general conditions of individual macro-financial assistance operations given that such decisions have substantial budgetary implications.

deleted

deleted

Amendment 16

Amendment 16

Proposal for a regulation

Proposal for a regulation

Recital 17

Recital 17

| (17) | The advisory procedure should be used for the adoption of the Memorandum of Understanding (MoU) laying down the economic policy measures associated with the Union's macro-financial assistance given that the MoU is not an implementing act of general scope, nor an act entailing budgetary implications or implications for third countries beyond those already entailed by the decision granting the assistance. |
| --- | --- |

(17)

(17)

The advisory procedure should be used for the adoption of the Memorandum of Understanding (MoU) laying down the economic policy measures associated with the Union's macro-financial assistance given that the MoU is not an implementing act of general scope, nor an act entailing budgetary implications or implications for third countries beyond those already entailed by the decision granting the assistance.

The advisory procedure should be used for the adoption of the Memorandum of Understanding (MoU) laying down the economic policy measures associated with the Union's macro-financial assistance given that the MoU is not an implementing act of general scope, nor an act entailing budgetary implications or implications for third countries beyond those already entailed by the decision granting the assistance.

deleted

deleted

Amendment 17

Amendment 17

Proposal for a regulation

Proposal for a regulation

Article 1 – paragraph 1

Article 1 – paragraph 1

1.   This Regulation lays down general provisions for the granting of macro-financial assistance to eligible third countries and territories
  as set out in
  Article 2.

as set out in

1.   This Regulation lays down general provisions for the granting of
  Union
  macro-financial assistance to eligible third countries and territories
  referred to in
  Article 2
  (the ‘beneficiary countries’)
  .

Union

referred to in

(the ‘beneficiary countries’)

Amendment 18

Amendment 18

Proposal for a regulation

Proposal for a regulation

Article 1 – paragraph 2

Article 1 – paragraph 2

2.   Macro-financial assistance shall be an exceptional financial instrument of untied and undesignated balance-of-payments support to
  eligible third
  countries
  and territories
  . It shall aim at restoring a sustainable external finance situation for countries facing external financing difficulties. It shall underpin the implementation of strong adjustment and structural reform measures designed to remedy balance of payments difficulties.

eligible third

and territories

2.   Macro-financial assistance shall be an exceptional financial instrument of untied and undesignated balance-of-payments support to
  beneficiary
  countries. It shall aim at restoring a sustainable external finance situation for
  beneficiary
  countries facing external financing difficulties. It shall underpin the implementation
  by such beneficiary countries
  of
  relevant bilateral agreements and programmes with the Union and shall be aimed at
  strong adjustment and structural reform measures designed to remedy balance of payments difficulties.

beneficiary

beneficiary

by such beneficiary countries

relevant bilateral agreements and programmes with the Union and shall be aimed at

Amendment 19

Amendment 19

Proposal for a regulation

Proposal for a regulation

Article 1 – paragraph 3

Article 1 – paragraph 3

3.   Macro-financial assistance may be granted on condition of the existence of a significant and residual external financing gap jointly identified with the multilateral financial institutions over and above the resources provided by the International Monetary Fund (IMF) and other multilateral institutions, despite the implementation of strong economic stabilisation and reform programmes.

3.   Macro-financial assistance may be granted on condition of the existence of a significant and residual external financing gap
  in the respective beneficiary country
  jointly identified with the
  European or
  multilateral financial institutions over and above the resources provided by the International Monetary Fund (IMF) and other
  European or
  multilateral
  financial
  institutions, despite the implementation of strong economic stabilisation and reform programmes
  by the respective beneficiary country
  .

in the respective beneficiary country

European or

European or

financial

by the respective beneficiary country

Amendment 20

Amendment 20

Proposal for a regulation

Proposal for a regulation

Article 2 – title

Article 2 – title

Eligible countries

Eligible countries

Eligible countries
  and territories

Eligible countries

and territories

Amendment 21

Amendment 21

Proposal for a regulation

Proposal for a regulation

Article 2 – introductory part

Article 2 – introductory part

The third countries and territories eligible for macro-financial assistance shall be:

1.
     The third countries and territories eligible for macro-financial assistance
  provided that they fulfil the conditionality criteria set out in Article 6 (the ‘beneficiary countries’)
  shall be:

1.

provided that they fulfil the conditionality criteria set out in Article 6 (the ‘beneficiary countries’)

Amendment 22

Amendment 22

Proposal for a regulation

Proposal for a regulation

Article 2 – paragraph 1 – point c

Article 2 – paragraph 1 – point c

| (c) | Other third countries in exceptional and duly justified circumstances. Such countries must be politically, economically and geographically close to the
  European
  Union. |
| --- | --- |

(c)

Other third countries in exceptional and duly justified circumstances. Such countries must be politically, economically and geographically close to the
  European
  Union.

European

| (c) | Other third countries
  that play a determining role in regional stability and are of strategic importance for the Union
  , in exceptional and duly justified circumstances. Such countries must be politically, economically and geographically close to the Union. |
| --- | --- |

(c)

Other third countries
  that play a determining role in regional stability and are of strategic importance for the Union
  , in exceptional and duly justified circumstances. Such countries must be politically, economically and geographically close to the Union.

that play a determining role in regional stability and are of strategic importance for the Union

Amendment 23

Amendment 23

Proposal for a regulation

Proposal for a regulation

Article 2 – paragraph 1 a (new)

Article 2 – paragraph 1 a (new)

1a.
     
  The Commission shall be empowered to adopt delegated acts in accordance with Article 14a to amend points 1 and 2 of Annex I in order to update it following appropriate political decisions regarding countries' status as candidate or potential candidate countries or regarding the scope of the European Neighbourhood Policy.

1a.

The Commission shall be empowered to adopt delegated acts in accordance with Article 14a to amend points 1 and 2 of Annex I in order to update it following appropriate political decisions regarding countries' status as candidate or potential candidate countries or regarding the scope of the European Neighbourhood Policy.

Amendment 24

Amendment 24

Proposal for a regulation

Proposal for a regulation

Article 2 – paragraph 1 b (new)

Article 2 – paragraph 1 b (new)

1b.
     
  The Commission shall be empowered to adopt delegated acts in accordance with Article 14a to supplement, when necessary, this Regulation with eligible countries that meet the criteria of point c of paragraph 1 of this Article.

1b.

The Commission shall be empowered to adopt delegated acts in accordance with Article 14a to supplement, when necessary, this Regulation with eligible countries that meet the criteria of point c of paragraph 1 of this Article.

Amendment 25

Amendment 25

Proposal for a regulation

Proposal for a regulation

Article 4 – paragraph 1

Article 4 – paragraph 1

1.   The amounts of macro-financial assistance provided
  in grants
  under this Regulation shall be consistent with the budget appropriations established in the multi-annual financial framework.

in grants

1.   The amounts of macro-financial assistance provided under this Regulation
  in the form of a grant
  shall be consistent with the budget appropriations established in the multi-annual financial framework.

in the form of a grant

Amendment 26

Amendment 26

Proposal for a regulation

Proposal for a regulation

Article 4 – paragraph 2

Article 4 – paragraph 2

2.   The amounts of macro-financial assistance provided
  in loans
  under this Regulation shall be provisioned in accordance with Council Regulation (EC, Euratom) 480/2009 of 25 May 2009 on the Guarantee Fund for external actions.

in loans

2.   The amounts of macro-financial assistance provided under this Regulation
  in the form of a loan
  shall be provisioned in accordance with Council Regulation (EC, Euratom)
  No
  480/2009 of 25 May 2009 establishing a Guarantee Fund for external actions.

in the form of a loan

No

Amendment 27

Amendment 27

Proposal for a regulation

Proposal for a regulation

Article 4 – paragraph 3

Article 4 – paragraph 3

3.   Annual appropriations shall be authorised by the budgetary authority within the limits of the financial framework.
  The corresponding reference amounts for the period 2011 to 2013 are set out in Annex II.

The corresponding reference amounts for the period 2011 to 2013 are set out in Annex II.

3.   Annual appropriations shall be authorised by the budgetary authority within the limits of the
  multi-annual
  financial framework.

multi-annual

Amendment 28

Amendment 28

Proposal for a regulation

Proposal for a regulation

Article 5 – paragraph 1

Article 5 – paragraph 1

1.   The amount of the assistance shall be based on the residual external financing needs of the beneficiary country. These shall be established by the Commission in cooperation with
  internationa
  l financial institutions, based on a comprehensive and well documented quantitative assessment. In particular, the Commission
  will
  draw on the latest balance of payments projections for the country in question produced by the IMF and take into account the expected financial contributions from multilateral donors.

internationa

will

1.   The
  proposed
  amount of the assistance shall be based on the residual external financing needs of the beneficiary country. These shall be established by the Commission in cooperation with
  the IMF and other European or multilateral
  financial institutions, based on a comprehensive and well documented quantitative assessment. In particular, the Commission
  shall
  draw on the latest balance of payments projections for the
  beneficiary
  country in question produced by the IMF
  and other European or multilateral financial institutions
  and take into account the expected financial contributions from multilateral donors
  as well as pre-existing deployment of the Union's other external financing instruments in the respective beneficiary country.

proposed

the IMF and other European or multilateral

shall

beneficiary

and other European or multilateral financial institutions

as well as pre-existing deployment of the Union's other external financing instruments in the respective beneficiary country.

Amendment 29

Amendment 29

Proposal for a regulation

Proposal for a regulation

Article 5 – paragraph 2

Article 5 – paragraph 2

2.   The determination of the
  amounts
  of macro-financial assistance shall also take into account the need to ensure a fair burden sharing
  with
  other donors.

amounts

with

2.   The determination of the
  amount
  of macro-financial assistance shall also take into account the need to ensure a fair burden sharing
  between the Union and the
  other donors.
  The Union's contribution should be sufficient to guarantee that it brings Union added value and should not normally be below 20 %.

amount

between the Union and the

The Union's contribution should be sufficient to guarantee that it brings Union added value and should not normally be below 20 %.

Amendment 30

Amendment 30

Proposal for a regulation

Proposal for a regulation

Article 5 – paragraph 3

Article 5 – paragraph 3

3.   In case the financing needs of the beneficiary country decline fundamentally during the period of disbursement of the macro-financial assistance, the Commission,
  acting in accordance with Article 14(2), may decide
  to reduce the amount of funds made available in the context of the assistance, suspend or cancel the assistance.

acting in accordance with Article 14(2), may decide

3.   In case the financing needs of the beneficiary country decline fundamentally during the period of disbursement of the macro-financial assistance, the Commission
  shall re-assess the economic and financial situation in the beneficiary country and
  ,
  based on that assessment, shall be empowered to adopt delegated acts in accordance with Article 14a to amend Annex IIa
  , to reduce the amount of funds made available in the context of the assistance, suspend or cancel the assistance.

shall re-assess the economic and financial situation in the beneficiary country and

based on that assessment, shall be empowered to adopt delegated acts in accordance with Article 14a to amend Annex IIa

Amendment 31

Amendment 31

Proposal for a regulation

Proposal for a regulation

Article 6 – paragraph 1

Article 6 – paragraph 1

1.   A pre-condition for granting macro-financial assistance shall be that the recipient country respects effective democratic mechanisms, including multi-party parliamentary systems, the rule of law and respect for human rights.

1.   A pre-condition for granting macro-financial assistance shall be that the recipient country respects effective democratic mechanisms, including multi-party parliamentary systems, the rule of law and respect for human rights.
  This assessment shall be entrusted to the EEAS in cooperation with the Commission and shall take into consideration the resolutions and reports adopted by the European Parliament concerning beneficiary countries. The assessment may identify policy recommendations as regards the strengthening of democratic institutions, human rights, transparency and the fight against corruption. This report shall be added to each individual delegated act referred to in Article 7(3). With a view to protecting Union democratic values and interests and reinforcing beneficiary countries' respect for fundamental rights, the Memorandum of Understanding shall include country specific recommendations that are consistent with Union external policies aimed at strengthening the rule of law, human and labour rights, transparency and combating corruption.

This assessment shall be entrusted to the EEAS in cooperation with the Commission and shall take into consideration the resolutions and reports adopted by the European Parliament concerning beneficiary countries. The assessment may identify policy recommendations as regards the strengthening of democratic institutions, human rights, transparency and the fight against corruption. This report shall be added to each individual delegated act referred to in Article 7(3). With a view to protecting Union democratic values and interests and reinforcing beneficiary countries' respect for fundamental rights, the Memorandum of Understanding shall include country specific recommendations that are consistent with Union external policies aimed at strengthening the rule of law, human and labour rights, transparency and combating corruption.

Amendment 32

Amendment 32

Proposal for a regulation

Proposal for a regulation

Article 6 – paragraph 2

Article 6 – paragraph 2

2.   Macro-financial assistance shall be conditional on the existence of an IMF programme entailing the use of IMF resources.

2.   Macro-financial assistance shall be conditional on the existence of an IMF programme entailing the use of IMF resources
  or that of another European or multilateral financial institution.

or that of another European or multilateral financial institution.

Amendment 33

Amendment 33

Proposal for a regulation

Proposal for a regulation

Article 6 – paragraph 3

Article 6 – paragraph 3

3.   The disbursement of the assistance shall be conditional on a satisfactory track record of an IMF programme. It shall also be conditional on the implementation, within a specific time frame, of a series of clearly defined economic policy measures focusing on structural reforms, to be agreed between the Commission and the beneficiary country and to be laid down in a Memorandum of Understanding.

3.   The disbursement of the assistance shall be conditional on a satisfactory track record of an IMF programme
  or that of another European or multilateral financial institution and of respect for the political and value-based principles.
  It shall also be conditional on the implementation, within a specific time frame, of a series of clearly defined economic policy measures focusing on structural reforms, to be agreed between the Commission and the beneficiary country and to be laid down in a Memorandum of Understanding.

or that of another European or multilateral financial institution and of respect for the political and value-based principles.

Amendment 34

Amendment 34

Proposal for a regulation

Proposal for a regulation

Article 7 – paragraph 2

Article 7 – paragraph 2

2.   
  If
  the conditions referred to in Article 1, Article 2, Article 4 and Article 6 are met, macro-financial assistance
  shall be granted by
  the Commission
  acting in accordance with Article 14(2).

If

shall be granted by

acting in accordance with Article 14(2).

2.   
  Upon receiving the request, the Commission shall make an assessment as to whether
  the conditions referred to in Article 1, Article 2, Article 4 and Article 6 are met
  for granting
  macro-financial assistance.
  If those conditions are met
  , the Commission
  shall determine in its decision the amount and the form of the assistance under the conditions referred to in Article 5 and Article 3 respectively.

Upon receiving the request, the Commission shall make an assessment as to whether

for granting

If those conditions are met

shall determine in its decision the amount and the form of the assistance under the conditions referred to in Article 5 and Article 3 respectively.

Amendment 35

Amendment 35

Proposal for a regulation

Proposal for a regulation

Article 7 – paragraphs 3 and 3a (new)

Article 7 – paragraphs 3 and 3a (new)

3.   The decision to provide a loan
  shall specify
  the amount, the maximum average maturity, the maximum number of instalments of the macro-financial assistance. The decision to provide a grant
  shall specify
  the amount, and the maximum number of instalments.
  In both cases the availability period of the macro-financial assistance shall be defined.
  As a rule,
  it
  shall not exceed three years.

shall specify

shall specify

In both cases the availability period of the macro-financial assistance shall be defined.

it

3.   
  For the purpose of paragraph 2 the Commission shall be empowered to adopt delegated acts in accordance with Article 14a to establish and to amend Annex IIa in order to provide macro-financial assistance to a particular country or territory. In the delegated act the Commission shall, inter alia, stipulate the following:

For the purpose of paragraph 2 the Commission shall be empowered to adopt delegated acts in accordance with Article 14a to establish and to amend Annex IIa in order to provide macro-financial assistance to a particular country or territory. In the delegated act the Commission shall, inter alia, stipulate the following:

| (a) | in all cases, the beneficiary of the assistance, the total maximum amount of the assistance, the form of the assistance, and the availability period of the assistance; |
| --- | --- |

(a)

(a)

in all cases, the beneficiary of the assistance, the total maximum amount of the assistance, the form of the assistance, and the availability period of the assistance

| (b) | in case of
  the decision to provide a loan, the amount, the maximum average maturity,
  and
  the maximum number of instalments of the macro-financial assistance; |
| --- | --- |

(b)

(b)

in case of
  the decision to provide a loan, the amount, the maximum average maturity,
  and
  the maximum number of instalments of the macro-financial assistance;

in case of

and

| (c) | in case of
  the decision to provide a grant, the amount, and the maximum number of instalments.
  The decision to provide a grant shall be accompanied by a justification for the grant (or grant element) of assistance. |
| --- | --- |

(c)

(c)

in case of
  the decision to provide a grant, the amount, and the maximum number of instalments.
  The decision to provide a grant shall be accompanied by a justification for the grant (or grant element) of assistance.

in case of

The decision to provide a grant shall be accompanied by a justification for the grant (or grant element) of assistance.

3a.
     As a rule,
  the availability period of the macro-financial assistance
  shall not exceed three years.

3a.

the availability period of the macro-financial assistance

Amendment 36

Amendment 36

Proposal for a regulation

Proposal for a regulation

Article 7 – paragraph 4

Article 7 – paragraph 4

4.   Following the
  approval
  of the
  decision
  granting macro-financial assistance, the Commission,
  acting in accordance with Article 14(3)
  , shall agree the policy measures referred to in
  Article
  6(3), (4), (5) and (6) with the beneficiary country.

approval

decision

acting in accordance with Article 14(3)

Article

4.   Following the
  adoption
  of the
  delegated act on
  granting macro-financial assistance, the Commission,
  in close cooperation with the EEAS
  , shall
  be empowered to adopt delegated acts in accordance with Article 14a to
  agree
  in the Memorandum of Understanding
  the policy measures referred to in
  Article 6(1)
  , (3), (4), (5) and (6) with the beneficiary country.

adoption

delegated act on

in close cooperation with the EEAS

be empowered to adopt delegated acts in accordance with Article 14a to

in the Memorandum of Understanding

Article 6(1)

Amendment 37

Amendment 37

Proposal for a regulation

Proposal for a regulation

Article 7 – paragraph 5

Article 7 – paragraph 5

5.   Following the
  approval
  of the
  decision
  granting macro-financial assistance, the Commission shall agree the detailed financial terms of the assistance with the beneficiary country. These shall be laid down in a Grant or Loan Agreement.

approval

decision

5.   Following the
  adoption
  of the
  delegated act on
  granting macro-financial assistance, the Commission shall agree the detailed financial terms of the assistance with the beneficiary country. These shall be laid down in a Grant or Loan Agreement.

adoption

delegated act on

Amendment 38

Amendment 38

Proposal for a regulation

Proposal for a regulation

Article 7 – paragraph 6

Article 7 – paragraph 6

6.   The Commission shall inform the European Parliament and the Council of developments in country-specific assistance and provide them with the relevant documents.

6.   The Commission shall inform the European Parliament and the Council of developments in country-specific assistance and provide them with the relevant documents
  in due time
  .

in due time

Amendment 39

Amendment 39

Proposal for a regulation

Proposal for a regulation

Article 9 – paragraph 2

Article 9 – paragraph 2

2.   The assistance shall be disbursed in successive instalments, conditional upon the fulfilment of the conditions referred to in
  Article
  6(2) and 6(3).

Article

2.   The assistance shall be disbursed in successive instalments, conditional upon the fulfilment of the conditions referred to in
  Article 6(1)
  , (2) and (3).

Article 6(1)

Amendment 40

Amendment 40

Proposal for a regulation

Proposal for a regulation

Article 9 – paragraph 3

Article 9 – paragraph 3

3.   The Commission shall verify at regular intervals that the conditions referred to in Article 6(2) and 6(3) continue to be met.

3.   The Commission shall verify at regular intervals that the conditions referred to in Article 6(2) and (3) continue to be met.
  The EEAS shall verify at regular intervals, and without delay in the case of unforeseen developments, that the conditions referred to in Article 6(1) continue to be met, and inform the Commission accordingly.

The EEAS shall verify at regular intervals, and without delay in the case of unforeseen developments, that the conditions referred to in Article 6(1) continue to be met, and inform the Commission accordingly.

Amendment 41

Amendment 41

Proposal for a regulation

Proposal for a regulation

Article 9 – paragraph 4

Article 9 – paragraph 4

4.   In case the conditions referred to in
  Article
  6(2) and 6(3) are not met, the Commission can temporarily suspend, reduce or cancel the disbursement of the assistance.

Article

4.   In case the conditions referred to in
  Article 6(1)
  , (2) and (3) are not met, the Commission,
  in close cooperation with the EEAS
  , can temporarily suspend, reduce or cancel the disbursement of the assistance.

Article 6(1)

in close cooperation with the EEAS

Amendment 42

Amendment 42

Proposal for a regulation

Proposal for a regulation

Article 9 – paragraph 4 a (new)

Article 9 – paragraph 4 a (new)

4a.
     
  In these instances, and in case the suspension of the operation is lifted after consultation of the EEAS, the Commission shall inform the European Parliament and the Council of the reasons thereof.

4a.

In these instances, and in case the suspension of the operation is lifted after consultation of the EEAS, the Commission shall inform the European Parliament and the Council of the reasons thereof.

Amendment 43

Amendment 43

Proposal for a regulation

Proposal for a regulation

Article 11 – paragraph 1

Article 11 – paragraph 1

1.   Beneficiary countries shall regularly check that financing provided from the budget of the Union has been properly used, take appropriate measures to prevent irregularities and fraud, and, if necessary, take legal action to recover any funds provided under this Regulation that have been misappropriated.

1.   
  Any agreements resulting from this Regulation shall contain provisions ensuring that
  beneficiary countries shall regularly check that financing provided from the budget of the Union has been properly used, take appropriate measures to prevent irregularities and fraud, and, if necessary, take legal action to recover any funds provided under this Regulation that have been misappropriated.

Any agreements resulting from this Regulation shall contain provisions ensuring that

Amendment 44

Amendment 44

Proposal for a regulation

Proposal for a regulation

Article 11 – paragraph 3 a (new)

Article 11 – paragraph 3 a (new)

3a.
     
  The Memorandum of Understanding referred to in Article 6(3) and any other agreements resulting from this Regulation shall ensure the rights of the Commission and the Court of Auditors under paragraphs 2 and 3 of this Article during and after the availability period of the macro-financial assistance.

3a.

The Memorandum of Understanding referred to in Article 6(3) and any other agreements resulting from this Regulation shall ensure the rights of the Commission and the Court of Auditors under paragraphs 2 and 3 of this Article during and after the availability period of the macro-financial assistance.

Amendment 45

Amendment 45

Proposal for a regulation

Proposal for a regulation

Article 12 – paragraph 1

Article 12 – paragraph 1

1.   The Commission shall regularly evaluate the results and efficiency of macro-financial assistance in order to ascertain whether the objectives have been met and enable it to formulate recommendations with a view to improving future operations.

1.   The Commission shall regularly evaluate the results and efficiency of macro-financial assistance
  regarding each and every particular recipient country or territory
  in order to ascertain whether the objectives have been met and enable it to formulate recommendations with a view to improving future operations.
  When evaluating the functioning of the political conditionality under Article 6(1), the Commission shall consult the EEAS
  .

regarding each and every particular recipient country or territory

When evaluating the functioning of the political conditionality under Article 6(1), the Commission shall consult the EEAS

Amendment 46

Amendment 46

Proposal for a regulation

Proposal for a regulation

Article 12 – paragraph 2

Article 12 – paragraph 2

2.   The Commission shall send ex-post evaluation reports to the European Parliament
  and
  the Council, assessing the extent to which recently completed
  MFA
  operations have contributed to the aims of the assistance.

and

MFA

2.   The Commission shall send ex-post evaluation reports to the European Parliament, the Council
  and the Court of Auditors
  , assessing the extent to which recently completed
  macro-financial assistance
  operations
  regarding a particular recipient country or territory
  have contributed to the aims of the assistance.

and the Court of Auditors

macro-financial assistance

regarding a particular recipient country or territory

Amendment 47

Amendment 47

Proposal for a regulation

Proposal for a regulation

Article 12 – paragraph 2 a (new)

Article 12 – paragraph 2 a (new)

2a.
     
  The Court of Auditors shall audit the financial management of the assistance.

2a.

The Court of Auditors shall audit the financial management of the assistance.

Amendment 48

Amendment 48

Proposal for a regulation

Proposal for a regulation

Article 14 – paragraph 3

Article 14 – paragraph 3

3.
     
  Where reference is made to this paragraph, Article 4 of Regulation (EU) 182/2011 shall apply.

3.

Where reference is made to this paragraph, Article 4 of Regulation (EU) 182/2011 shall apply.

deleted

deleted

Amendment 49

Amendment 49

Proposal for a regulation

Proposal for a regulation

Article 14 a (new)

Article 14 a (new)

Article 14a

Article 14a

Exercise of the delegation

Exercise of the delegation

1.
     
  The power to adopt delegated acts referred to in Articles 2(1a), 2(1b), 5(3), 7(3) and 7(4) shall be conferred on the Commission for a period of applicability of this Regulation.

1.

The power to adopt delegated acts referred to in Articles 2(1a), 2(1b), 5(3), 7(3) and 7(4) shall be conferred on the Commission for a period of applicability of this Regulation.

2.
     
  The delegation of power may be revoked at any time by the European Parliament or by the Council. A decision to revoke shall put an end to the delegation of power specified in that decision. It shall take effect the day following the publication of the decision in the Official Journal of the European Union or at a later date specified therein. It shall not affect the validity of any delegated acts already in force.

2.

The delegation of power may be revoked at any time by the European Parliament or by the Council. A decision to revoke shall put an end to the delegation of power specified in that decision. It shall take effect the day following the publication of the decision in the Official Journal of the European Union or at a later date specified therein. It shall not affect the validity of any delegated acts already in force.

3.
     
  As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and the Council.

3.

As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and the Council.

4.
     
  A delegated act adopted pursuant to Articles 2(1a), 2(1b), 5(3), 7(3) and 7(4) shall enter into force only if no objection has been expressed either by the European Parliament or the Council within a period of two months of notification of the act to the European Parliament and the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by two months at the initiative of the European Parliament or the Council.

4.

A delegated act adopted pursuant to Articles 2(1a), 2(1b), 5(3), 7(3) and 7(4) shall enter into force only if no objection has been expressed either by the European Parliament or the Council within a period of two months of notification of the act to the European Parliament and the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by two months at the initiative of the European Parliament or the Council.

Amendment 50

Amendment 50

Proposal for a regulation

Proposal for a regulation

Article 14 b (new)

Article 14 b (new)

Article 14b

Article 14b

Review

Review

1.
     
  No later than ... (5) and every four years thereafter, the Commission shall present to the European Parliament and the Council a report on the application of this Regulation.

1.

No later than ... (5

2.
     
  The report referred to in paragraph 1 shall include a detailed overview of macro-financial assistance granted under this Regulation and shall be accompanied, if appropriate, by a legislative proposal for a review of this Regulation.

2.

The report referred to in paragraph 1 shall include a detailed overview of macro-financial assistance granted under this Regulation and shall be accompanied, if appropriate, by a legislative proposal for a review of this Regulation.

Amendment 51

Amendment 51

Proposal for a regulation

Proposal for a regulation

Article 15

Article 15

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union
  and shall expire on 31 December 2013
  .

and shall expire on 31 December 2013

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

Amendment 52

Amendment 52

Proposal for a regulation

Proposal for a regulation

Annex II

Annex II

Annex deleted.

Annex deleted.

Amendment 53

Amendment 53

Proposal for a regulation

Proposal for a regulation

Annex II a (new)

Annex II a (new)

Amendment by Parliament

Amendment by Parliament

ANNEX II a

ANNEX II a

MACRO-FINANCIAL ASSISTANCE TO PARTICULAR COUNTRIES AND TERRITORIES

MACRO-FINANCIAL ASSISTANCE TO PARTICULAR COUNTRIES AND TERRITORIES

| Beneficiary of assistance | Total maximum amount of assistance | Form of assistance | Availability period of assistance |
| --- | --- | --- | --- |
| Loan | Grant |
| Amount | Maximum average maturity | Maximum number of instalments | Amount | Maximum number of instalments |
| ... | ... | ... | ... | ... | ... | ... | ... |

Beneficiary of assistance

Beneficiary of assistance

Total maximum amount of assistance

Total maximum amount of assistance

Form of assistance

Form of assistance

Availability period of assistance

Availability period of assistance

Loan

Loan

Grant

Grant

Amount

Amount

Maximum average maturity

Maximum average maturity

Maximum number of instalments

Maximum number of instalments

Amount

Amount

Maximum number of instalments

Maximum number of instalments

...

...

...

...

...

...

...

...

...

...

...

...

...

...

...

...

---

(1)  The matter was referred back to the committee responsible for reconsideration pursuant to Rule 57(2), second subparagraph (A7- 0157/2012).

1

(2)  
  Regulation No ... of the European Parliament and of the Council of ... on the Instrument for Pre-accession Assistance (IPA II) (OJ ...)

2

Regulation No ... of the European Parliament and of the Council of ... on the Instrument for Pre-accession Assistance (IPA II) (OJ ...)

(3)  
  Regulation No ... of the European Parliament and of the Council of ... establishing a European Neighbourhood Instrument (OJ ...)

3

Regulation No ... of the European Parliament and of the Council of ... establishing a European Neighbourhood Instrument (OJ ...)

(4)  
  Regulation No ... of the European Parliament and of the Council of ... establishing a financing instrument for development cooperation (OJ ...)

4

Regulation No ... of the European Parliament and of the Council of ... establishing a financing instrument for development cooperation (OJ ...)

(5)  
  Four years after the entry into force of this Regulation
  .

5

Four years after the entry into force of this Regulation

---