opinion parliamentary committee draft, 2 June 2026
On the proposal for a regulation of the European Parliament and of the Council on establishing the European Competitiveness Fund ('ECF’), including the specific programme for defence research and innovation activities, repealing Regulations (EU) 2021/522, (EU) 2021/694, (EU) 2021/697, (EU) 2021/783, and amending Regulations (EU) 2021/696, (EU) 2023/588, (EU) [EDIP]
Document BUDG-PA-787644 · (COM(2025)0555 – C100165/2025 – 2025/0555(COD))
Committee on Budgets · Rapporteur: Stine Bosse
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Budgetary assessment 19 paragraphs
for the Committee on Industry, Research and Energy on the proposal for a Regulation of the European Parliament and of the Council establishing the European Competitiveness Fund ('ECF’), including the specific programme for defence research and innovation activities, repealing Regulations (EU) 2021/522, (EU) 2021/694, (EU) 2021/697, (EU) 2021/783, repealing provisions of Regulations (EU) 2021/696, (EU) 2023/588, (EU) [EDIP] (COM(2025)0555 – C100165/2025 – 2025/0555(COD))
The Committee on Budgets has carried out a budgetary assessment of the proposal under Rule 58 of the Rules of Procedure and has reached the following conclusions:
The Committee on Budgets,
A.whereas the European Competitiveness Fund (ECF) entails a substantial increase in investment in strategic autonomy, resilience, key sectors of the economy and the twin transition compared to the current MFF; whereas that is still insufficient given investment needs and the geopolitical context; whereas the proposal consolidates existing programmes, which could reduce transparency and accountability and limit Parliament’s ability to ensure funding for specific policy objectives;
B.whereas the Union should boost spending on strategic priorities and make greater use of risk-sharing instruments with a high risk appetite, in order to mobilise private investments and strengthen Union budgetary impact and competitiveness;
1.Considers that the ECF envelope should be increased from EUR 234.3 billion (EUR 207.4 billion in 2025 prices) to [number from the MFF interim report, in current and 2025 prices] billion in the light of the Union’s very high investment needs and the geopolitical situation;
2.Deplores the limited breakdown of the ECF budget, particularly compared to the situation for the same actions in the present MFF; notes that this would give the Commission great latitude to shift and decide on spending priorities during implementation, while recognising the need for a certain degree of flexibility;
3.Deplores the lack of a detailed indicative budgetary nomenclature; considers that this will hamper oversight and the budgetary authority’s ability to steer accurately policy priorities in the annual budgetary procedure;
4.Insists that sufficiently detailed legislation, with an appropriate level of governance, is a condition for sound budgetary decision-making and parliamentary oversight; highlights the need for a balanced representation of stakeholders on the ECF Strategic Stakeholder Board; recommends introducing provisions to strengthen control over how the budget is mobilised and spent; considers that a ‘steering mechanism’ cannot compensate for any loss of Parliament’s legislative or budgetary powers;
5.Recalls that the proposal includes the possibility to use a budgetary guarantee which is an inherently efficient way of leveraging a limited Union budget; stresses that the budgetary implications of borrowing and lending operations must be clearly identified, transparently presented and carefully monitored throughout the MFF;
6.Considers that the maximum amount of the EU guarantee should be increased to EUR 120 billion, bearing in mind the success of the InvestEU guarantee and the increased emphasis on leveraging the budget; welcomes the 50 % provisioning rate, which should help ensure greater risk taking than in InvestEU and EFSI;
7.Expresses deep concern that the minimum amount of Union support through the InvestEU Instrument is only EUR 17 bn, with a guarantee of only EUR 14 billion; points out that the minimum guarantee is much lower than the InvestEU guarantee of EUR 29 bn; recommends increasing the minimum amount of support to at least EUR 40 bn, in the light of the geopolitical situation and investment needs in innovation and competitiveness; recommends increasing the initial amount for advisory services;
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8.Expresses concern that the proposal contains no policy steer for the InvestEU Instrument, resulting in a lack of predictability for markets and business communities, while giving the Commission great freedom to decide how it should be used; recommends establishing an appropriate policy steer, including sufficient minimum amounts to the specific objectives of each policy window;
9.Considers that the InvestEU Instrument should be given priority in implementation, with grants being used only where necessary, including where no commercial return is envisaged;
10.Stresses that allocation of resources and award criteria must be guided by the principle of excellence, so that Union funding supports the highest-quality projects, with measurable results for competitiveness in line with the ECF’s general and specific objectives, given increasing geopolitical tensions including on trade and security, where appropriate taking considerations of regional balance into account;
11.Expresses concern at the possible lack of continuity in allocation of the guarantee from InvestEU to the ECF; recommends that a part of the minimum amount be used to top up guarantee agreements of existing implementing partners to ensure availability from the outset and avoid an implementation lag from one programme to the next;
12.Considers that implementing the InvestEU Instrument with annual work programmes would hinder efficiency and reduce visibility and predictability; considers that multiannual programming would be more appropriate; recommends therefore to implement the ECF InvestEU Instrument through the investment guidelines, which must be adopted by means of delegated act to ensure appropriate parliamentary oversight;
13.Highlights the special role of the EIB Group; considers it appropriate to allocate a minimum of 70 % of the EU guarantee under the EU compartment to the EIB Group, which allows more room for other implementing partners, recognising their the role in implementation, while also supporting a targeted expansion of the open architecture of implementing partners;
14.Considers that revenue, surplus provisioning and defence research decommitments should be kept within the ECF to provide further funding.
Amendments 151 paragraphs
As part of its budgetary assessment, the Committee on Budgets also submits the following amendments to the proposal:
Amendment 1
Proposal for a regulation
Recital 41 a (new)
| Text proposed by the Commission | Amendment |
|---|---|
| (41a) In the interests of supporting Union competitiveness and innovation, reflows from budgetary guarantees and financial instruments and revenue generated by Union space systems and implementation of Union space policy should be used to provide extra funding for ECF activities. With the same aim in mind, commitment appropriations corresponding to any decommitments relating to defence research projects should be made available again to the benefit of the defence research programme. |
Or. en
Amendment 2
Proposal for a regulation
Recital 50
| Text proposed by the Commission | Amendment |
|---|---|
| (50) The ECF should be implemented through work programmes as set out in this Regulation. Work programmes could be adopted under an annual or multi-annual format. The latter could in particular be considered for the purposes of Union support provided for budgetary guarantees and financial instruments, with a view to provide predictability to implementing partners. The designated mode of implementation reflects the identified needs for directionality, flexibility, predictability and efficiency, required to meet the objectives of the Regulation. In accordance with Regulation (EU Euratom) 2024/2059, the work programmes and the call documents will set out more technical implementation details for the budget across the set of policies supported by the ECF, including specific eligibility and award criteria depending on the instrument of budget implementation, be it grant, or procurement, and the specific policy objectives pursued. In accordance with Article 136 of the Financial Regulation, eligibility restrictions should apply to high-risk suppliers, for security reasons. Work programmes are also the appropriate place to allocate budget in accordance with evolving policy priorities, and they should set out contributions, specific conditions and expected results. | (50) The ECF should be implemented through work programmes as set out in this Regulation. Work programmes could be adopted under an annual or multi-annual format. As a general rule, multiannual work programmes should be used for the purposes of Union support provided for budgetary guarantees and financial instruments, with a view to provide predictability to implementing partners. Furthermore, in the interests of a smooth transition from the InvestEU programme, the minimum amount of support under the ECF InvestEU Instrument should be implemented promptly, with subsequent top ups from the policy windows being made through the applicable work programme. The designated mode of implementation reflects the identified needs for directionality, flexibility, predictability and efficiency, required to meet the objectives of the Regulation. In accordance with Regulation (EU Euratom) 2024/2059, the work programmes and the call documents will set out more technical implementation details for the budget across the set of policies supported by the ECF, including specific eligibility and award criteria depending on the instrument of budget implementation, be it grant, or procurement, and the specific policy objectives pursued. In accordance with Article 136 of the Financial Regulation, eligibility restrictions should apply to high-risk suppliers, for security reasons. Work programmes are also the appropriate place to allocate budget in accordance with evolving policy priorities, and they should set out contributions, specific conditions and expected results. |
Or. en
Amendment 3
Proposal for a regulation
Recital 70
| Text proposed by the Commission | Amendment |
|---|---|
| (70) To provide implementing partners with broader access to the ECF InvestEU Instrument, the Commission should be able to conclude agreements in indirect management with all the categories of entities listed under Article 62(1), point (c), Regulation (EU, Euratom) 2024/2059. To unlock private capital, bodies established in a Member State, governed by the private law of a Member State or Union law should also be eligible to be exceptionally entrusted, following a positive pillar assessment, with the implementation of financial instruments or budgetary guarantees, including when combined with grants or with other forms of non-repayable support in blending operations, to the extent that such bodies are provided with adequate financial guarantees. Such bodies should be selected taking due account of the nature of the financial instrument or budgetary guarantee to be implemented, the experience and the financial and operational capacity of those bodies, and their rules and procedures for verifying the economic viability of projects of final recipients. The selection should be transparent, justified on objective grounds and should not give rise to a conflict of interests. | (70) To provide implementing partners with broader access to the ECF InvestEU Instrument, the Commission should be able to conclude agreements in indirect management with all the categories of entities listed under Article 62(1), point (c), Regulation (EU, Euratom) 2024/2059. To unlock private capital, bodies established in a Member State, governed by the private law of a Member State or Union law should also be eligible to be exceptionally entrusted, following a positive pillar assessment and where the Commission is not able to entrust the relevant budget implementation tasks to an entity falling within the scope of Article 62(1), point (c), of Regulation (EU, Euratom) 2024/2059, with the implementation of financial instruments or budgetary guarantees, including when combined with grants or with other forms of non-repayable support in blending operations, to the extent that such bodies are provided with adequate financial guarantees. Such bodies should be selected taking due account of the nature of the financial instrument or budgetary guarantee to be implemented, the experience and the financial and operational capacity of those bodies, and their rules and procedures for verifying the economic viability of projects of final recipients. The selection should be transparent, justified on objective grounds and should not give rise to a conflict of interests. In the interests of sound financial management, such bodies should be subject to the rules and obligations laid down in the Financial Regulation that apply to other implementing partners. |
Or. en
Amendment 4
Proposal for a regulation
Recital 72
| Text proposed by the Commission | Amendment |
|---|---|
| (72) To ensure consistency in the implementation of budgetary guarantees, financial instruments and blending operations under different Union programmes, the Commission should develop guidance including technical arrangements, terms and conditions to deploy these forms of support under those programmes. | (72) To ensure consistency in the implementation of budgetary guarantees, financial instruments and blending operations under different Union programmes, the Commission should develop guidance including technical arrangements, terms and conditions to deploy these forms of support under those programmes. In particular, as part of its efforts to harmonise the risk management framework for budgetary guarantees, the Commission could set the confidence level of the value at risk with which it estimates the amount of provisioning required to cover future life-time losses at 90 % for internal and external policies. That would be in line with the recommendation made in the interim evaluation report on the InvestEU programme. |
Or. en
Amendment 5
Proposal for a regulation
Recital 89 a (new)
| Text proposed by the Commission | Amendment |
|---|---|
| (89a) The provisions of this Regulation as well as its governance arrangements should be conducive to proper decision-making by the budgetary authority and to appropriate parliamentary oversight. In particular, any specification of the ECF’s internal architecture should be duly reflected in the budget nomenclature through the introduction of corresponding budget lines. |
Or. en
Amendment 6
Proposal for a regulation
Recital 89 b (new)
| Text proposed by the Commission | Amendment |
|---|---|
| (89b) The implications of this Regulation for the Union budget have been assessed+ pursuant to Article 310(4) of the Treaty on the Functioning of the European Union. Sufficient financial and human resources should be provided for its implementation, while considering the impact of the financing on other Union programmes or policies and ensuring its compatibility with the multiannual financial framework, the system of own resources and the corresponding interinstitutional agreement, as well as with the budgetary principles laid down in Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council[1]. | |
| + Pro memoria: Budgetary assessment of the European Parliament’s Committee on Budgets of [date] on the proposal for a regulation of the European Parliament and of the Council on establishing the European Competitiveness Fund ('ECF’), including the specific programme for defence research and innovation activities, repealing Regulations (EU) 2021/522, (EU) 2021/694, (EU) 2021/697, (EU) 2021/783, and amending Regulations (EU) 2021/696, (EU) 2023/588, (EU) [EDIP] (COM(2025)0555 – C10-0165/2025). | |
| [1] Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union (OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj). |
Or. en
Amendment 7
Proposal for a regulation
Article 4 – paragraph 1
| Text proposed by the Commission | Amendment |
|---|---|
| 1. The indicative financial envelope for the implementation of the ECF for the period from 1 January 2028 to 31 December 2034 shall be EUR 234 300 000 000 in current prices. | 1. The indicative financial envelope for the implementation of the ECF for the period 2028-2034 is set at EUR [number from the Interim report on the proposal for the multiannual financial framework for 2028-2034 (2025/0571R(APP)), in current and 2025 prices]; |
Or. en
Amendment 8
Proposal for a regulation
Article 5 – paragraph 4
| Text proposed by the Commission | Amendment |
|---|---|
| 4. [From 1 January 2028 / programme start date], by way of derogation from the first, second and fourth subparagraphs of Article 212(3) of Regulation (EU, Euratom) 2024/2509, revenue, repayments and recoveries from financial instruments funded from this Regulation, its predecessor, and those referred to in Annex IV of Regulation (EU) 2021/523 shall be used to provide Union support under the ECF. By way of derogation from point (f) of Article 21(3) and in accordance with Article 21(5) of Regulation (EU, Euratom) 2024/2509, these resources shall constitute external assigned revenue to the ECF. | 4. [From 1 January 2028 / programme start date], by way of derogation from the first, second and fourth subparagraphs of Article 212(3) of Regulation (EU, Euratom) 2024/2509, revenue, repayments and recoveries from financial instruments funded from this Regulation, its predecessor, and those referred to in Annex IV of Regulation (EU) 2021/523 shall be used to provide Union support under the ECF InvestEU Instrument. By way of derogation from point (f) of Article 21(3) and in accordance with Article 21(5) of Regulation (EU, Euratom) 2024/2509, these resources shall constitute external assigned revenue to the ECF. |
Or. en
Amendment 9
Proposal for a regulation
Article 5 – paragraph 5
| Text proposed by the Commission | Amendment |
|---|---|
| 5. [From 1 January 2028 / programme start date], by way of derogation from point (a) of Article 216(4) of Regulation (EU, Euratom) 2024/2509, any surplus of provisions for the budgetary guarantees established by Regulations (EU) 2015/1017[2] and (EU) 2021/523[3] may be used to provide Union support under the ECF. These resources shall constitute external assigned revenue within the meaning of Article 21(5) of Regulation 2024/2509 to the ECF. | 5. [From 1 January 2028 / programme start date], by way of derogation from point (a) of Article 216(4) of Regulation (EU, Euratom) 2024/2509, any surplus of provisions for the budgetary guarantees established by Regulations (EU) 2015/1017[2] and (EU) 2021/523[3] shall be used to provide Union support under the ECF InvestEU Instrument. These resources shall constitute external assigned revenue within the meaning of Article 21(5) of Regulation 2024/2509 to the ECF. |
Or. en
Amendment 10
Proposal for a regulation
Article 5 – paragraph 5 a (new)
| Text proposed by the Commission | Amendment |
|---|---|
| 5a. Commitment appropriations corresponding to the amount of decommitments made as a result of total or partial non-implementation of corresponding defence research or innovation activities shall be made available again to the benefit of the specific programme on defence research and innovation under the ECF in the context of the budgetary procedure. |
Or. en
Amendment 11
Proposal for a regulation
Article 12 – paragraph 1 – subparagraph 1 a (new)
| Text proposed by the Commission | Amendment |
|---|---|
| Work programmes that relate to the ECF InvestEU Instrument shall be adopted in accordance with the investment guidelines referred to in Article 21(5). |
Or. en
Amendment 12
Proposal for a regulation
Article 14 – paragraph 5
| Text proposed by the Commission | Amendment |
|---|---|
| 5. An independent Investment Committee shall be established under the ECF InvestEU Instrument (the ‘Investment Committee’). | deleted |
Or. en
Amendment 13
Proposal for a regulation
Article 14 – paragraph 6
| Text proposed by the Commission | Amendment |
|---|---|
| 6. The composition of the Investment Committee shall ensure that it has a wide knowledge of the sectors covered by the ECF and a wide knowledge of the geographic markets in the Union, and shall ensure that the Investment Committee as a whole is gender-balanced. | deleted |
Or. en
Amendment 14
Proposal for a regulation
Article 14 – paragraph 7
| Text proposed by the Commission | Amendment |
|---|---|
| 7. The Investment Committee shall examine the proposals for financing and investment operations submitted by implementing partners for coverage under the Union guarantee and verify the compliance with the applicable rules of the proposals for financing under the ECF InvestEU Instrument. | deleted |
Or. en
Amendment 15
Proposal for a regulation
Article 14 – paragraph 8
| Text proposed by the Commission | Amendment |
|---|---|
| 8. The Advisory Board on ECF InvestEU Instrument shall be composed of one representative of each implementing partner and one representative of each Member State. the Advisory Board on ECF InvestEU Instrument shall, provide advice on the design of financial products and on the strategic and operational direction in its area of competence. It shall also provide advice on the coordination with the EIC to ensure complementarity with other Union funding or private investments. The Advisory Board shall be chaired by a representative of the Commission. | deleted |
Or. en
Amendment 16
Proposal for a regulation
Article 14 – paragraph 9
| Text proposed by the Commission | Amendment |
|---|---|
| 9. The Commission shall establish the detailed rules on selection and composition, remuneration, rules of procedure, conflicts of interest and confidentiality for the Investment Committee and the Advisory Board on ECF InvestEU Instrument. | deleted |
Or. en
Amendment 17
Proposal for a regulation
Article 14 – paragraph 10
| Text proposed by the Commission | Amendment |
|---|---|
| 10. The Commission and Implementing partners shall establish regular Policy Review Dialogues to discuss progress with the implementation of the financial products and engage on relevant policy developments. | deleted |
Or. en
Amendment 18
Proposal for a regulation
Article 14 a (new)
| Text proposed by the Commission | Amendment |
|---|---|
| Article 14a | |
| ECF InvestEU Instrument Governance | |
| 1. A fully independent Investment Committee shall be established under the ECF InvestEU Instrument (the ‘Investment Committee’). The Investment Committee shall: | |
| (a) examine the proposals for financing and investment operations submitted by implementing partners for coverage under the Union guarantee; | |
| (b) verify the compliance of the proposals referred to in point (a) with the applicable rules and with the investment guidelines referred to in Article 21(5) and approve or reject them. | |
| 2. The Commission shall select the members of the Investment Committee and shall appoint them for a term of up to four years, renewable once. They shall be remunerated by the Union. | |
| The members of the Investment Committee shall have a high level of relevant market experience in project structuring and financing or financing of SMEs or corporates. | |
| The composition of the Investment Committee shall ensure that it has a wide knowledge of the sectors covered by the ECF and a wide knowledge of the geographic markets in the Union, and shall ensure that the Investment Committee as a whole is gender balanced. The selection shall be transparent and justified on objective grounds. | |
| The Investment Committee shall elect a chairperson from among its members. | |
| 3. The members of the Investment Committee shall perform their duties impartially and in the sole interest of the European Competitiveness Fund. They shall not seek or take instructions from the implementing partners, the institutions of the Union, the Member States, or any other public or private body. | |
| The curricula vitae and declarations of interest of each member of the Investment Committee shall be made public and kept up to date. Each member of the Investment Committee shall without delay communicate to the Commission all information and documentation needed to confirm the absence of any conflict of interest on an ongoing basis. | |
| The Commission may remove a member from his or her functions if that member does not comply with the requirements laid down in this paragraph or for other duly justified reasons. | |
| 4. The Investment Committee shall adopt the decisions referred to in paragraph 1(b) by a simple majority of all members. In the event of a draw, the chair of the Investment Committee shall have the casting vote. | |
| 5. Decisions of the Investment Committee approving the coverage of the EU guarantee for a financing or investment operation shall be publicly accessible and shall include the rationale for the approval and information on the operation, in particular its description, the identity of the promoters or financial intermediaries, and the objectives of the operation. | |
| Information made publicly accessible under the first subparagraph shall not contain commercially sensitive information or personal data that are not to be disclosed under the Union data protection rules. Commercially sensitive parts of the conclusions of the Investment Committee shall be forwarded by the Commission to the European Parliament and to the Council upon request subject to strict confidentiality requirements. | |
| Twice a year, the Investment Committee shall submit to the European Parliament and to the Council a list of the decisions of the Investment Committee to reject the use of the EU guarantee taken pursuant to paragraph 1(b) in the preceding six months. That submission shall be subject to strict confidentiality requirements. | |
| Decisions of the Investment Committee pursuant to paragraph 1(b) shall be made available in a timely manner to the implementing partner concerned. | |
| 6. Where the Investment Committee is requested to approve the use of the EU guarantee for a financing or investment operation that is a facility, programme or structure which has underlying sub-projects, that approval shall comprise those underlying sub-projects unless the Investment Committee decides to retain the right to approve them separately. The Investment Committee shall not have the right to separately approve sub-projects of a size below EUR 3 000 000. | |
| 7. The Advisory Board on the ECF InvestEU Instrument shall be composed of two representatives of the EIB Group, one representative of each other implementing partner and one representative of each Member State. The Advisory Board on the ECF InvestEU Instrument shall provide advice on the design of financial products and on the strategic and operational direction in its area of competence. It shall also provide advice on the coordination with the EIC to ensure complementarity with other Union funding or private investments. The Advisory Board shall be chaired by a representative of the Commission. One of the representatives of the EIB Group shall be the vice-chair. | |
| 8. The Commission shall establish the detailed rules on selection and composition, remuneration, rules of procedure, conflicts of interest and confidentiality for the Investment Committee and the Advisory Board on the ECF InvestEU Instrument. | |
| 9. The Commission and implementing partners shall establish regular Policy Review Dialogues to discuss progress with the implementation of the financial products and engage on relevant policy developments. |
Or. en
Amendment 19
Proposal for a regulation
Article 21 – paragraph 3
| Text proposed by the Commission | Amendment |
|---|---|
| 3. The maximum amount of the budgetary guarantee under the EU Compartment of the ECF InvestEU Instrument shall be EUR 70 000 000 000 in current prices. It shall be provisioned at the rate of 50 %. | 3. The maximum amount of the budgetary guarantee under the EU Compartment of the ECF InvestEU Instrument shall be EUR 120 00 000 000 in current prices. It shall be provisioned at the rate of 50 %. |
Or. en
Amendment 20
Proposal for a regulation
Article 21 – paragraph 3 a (new)
| Text proposed by the Commission | Amendment |
|---|---|
| 3a. The Commission shall grant 70 % of the allocated budgetary guarantee under the EU compartment to the EIB Group. The EIB Group shall provide an aggregate financial contribution amounting to [X] % of the allocated amount. That contribution shall be provided in a manner and form that facilitates the implementation of the ECF InvestEU Instrument and the achievement of the general and specific objectives set out in Article 3(1) and (2). |
Or. en
Amendment 21
Proposal for a regulation
Article 21 – paragraph 5
| Text proposed by the Commission | Amendment |
|---|---|
| 5. The investment guidelines set out by the Commission shall define in more detail the scope of intervention in support of the general and specific objectives set out in Article 3. The investment guidelines shall be prepared in close dialogue with the potential implementing partners. | 5. The Commission is empowered to adopt investment guidelines as delegated acts in accordance with Article 84 in order to supplement this Regulation by setting out in more detail the scope of intervention in support of the general and specific objectives set out in Article 3. The investment guidelines shall be prepared in close dialogue with the EIB Group and other potential implementing partners. |
Or. en
Amendment 22
Proposal for a regulation
Article 21 – paragraph 5 a (new)
| Text proposed by the Commission | Amendment |
|---|---|
| 5a. The Commission shall make information on the application and interpretation of the investment guidelines referred to in paragraph 5 available to the implementing partners, the Investment Committee and the advisory partners. |
Or. en
Amendment 23
Proposal for a regulation
Article 21 – paragraph 7
| Text proposed by the Commission | Amendment |
|---|---|
| 7. The Commission is empowered to adopt delegated acts in accordance with Article 84 to amend paragraph 3 to adjust the provisioning rate and to adjust the maximum amount of the budgetary guarantee with up to 20% of that amount. | 7. The Commission is empowered to adopt delegated acts in accordance with Article 84 to amend paragraph 3 to adjust the provisioning rate and to increase the maximum amount of the budgetary guarantee by up to 20% of that amount. |
Or. en
Amendment 24
Proposal for a regulation
Article 24 – paragraph 1 a (new)
| Text proposed by the Commission | Amendment |
|---|---|
| 1a. The establishment of a Member State Compartment shall be subject to the conclusion of a contribution agreement between a Member State and the Commission. Such contribution agreements shall set out the detailed terms and conditions governing the contribution of funds to the Member State Compartment, including the sources, amounts, provisioning rates and modalities of delivery. |
Or. en
Amendment 25
Proposal for a regulation
Article 24 – paragraph 1 b (new)
| Text proposed by the Commission | Amendment |
|---|---|
| 1b. Where appropriate, the compartments referred to in paragraph 1 shall be used in a complementary manner to support a given financing or investment operation, including by combining support from both compartments. Any such combination may be made in a layered structure to achieve a better risk coverage. |
Or. en
Amendment 26
Proposal for a regulation
Article 25 – paragraph 1
| Text proposed by the Commission | Amendment |
|---|---|
| 1. The ECF InvestEU Instrument will be implemented by partners in an open architecture model, including the European Investment Bank (EIB) Group, international financial institutions, the national promotional banks and institutions. | 1. The ECF InvestEU Instrument shall be implemented by partners in an open architecture model. Those partners shall include the European Investment Bank (EIB) Group, taking account of its special role and experience, international financial institutions, the national promotional banks and institutions. |
Or. en
Amendment 27
Proposal for a regulation
Article 25 – paragraph 3
| Text proposed by the Commission | Amendment |
|---|---|
| 3. In addition to entities referred to in Article 62(1), first subparagraph, point (c), and Article 211(5) of Regulation (EU Euratom) 2024/2029, bodies established in a Member State, governed by the private law of a Member State or Union law may also be exceptionally entrusted, following a positive pillar assessment, with the implementation of a budgetary guarantee or financial instrument, including when combined with non-repayable support in a blending operation, to the extent that such bodies are provided with adequate financial guarantees which may be, for each action, limited to the maximum amount of the Union support. Those bodies governed by private law shall be selected with due account to the nature of the financial instrument or budgetary guarantee to be implemented, the experience and the financial and operational capacity, and their rules and procedures for verifying the economic viability of projects of final recipients. The selection shall be transparent, justified on objective grounds and shall not give rise to a conflict of interests. | 3. By way of derogation from Article 62(1), first subparagraph, point (c), and Article 211(5) of Regulation (EU Euratom) 2024/2029, bodies established in a Member State that are governed by the private law of a Member State or Union law may also be exceptionally entrusted, following a positive pillar assessment, with the implementation of a budgetary guarantee or financial instrument, including when combined with non-repayable support in a blending operation, provided that such bodies are provided with adequate financial guarantees which may be, for each action, limited to the maximum amount of the Union support. Those bodies governed by private law shall be selected with due account to the nature of the financial instrument or budgetary guarantee to be implemented, the experience and the financial and operational capacity, and their rules and procedures for verifying the economic viability of projects of final recipients. The selection shall be transparent, justified on objective grounds and shall not give rise to a conflict of interests. |
Or. en
Amendment 28
Proposal for a regulation
Article 25 – paragraph 3 – subparagraph 1 a (new)
| Text proposed by the Commission | Amendment |
|---|---|
| The Commission may avail itself of the possibility of entrusting implementation of a budgetary guarantee or financial instrument, including when combined with non-repayable support in a blending operation, provided for in the first subparagraph only where it is not able to entrust such implementation to any person or entity as referred to in Article 62(1), first subparagraph, point (c), and Article 211(5) of Regulation (EU Euratom) 2024/2029. |
Or. en
Amendment 29
Proposal for a regulation
Article 25 – paragraph 3 – subparagraph 1 b (new)
| Text proposed by the Commission | Amendment |
|---|---|
| Bodies governed by the private law of a Member State or Union law that are entrusted, pursuant to the first subparagraph, with implementation of a budgetary guarantee or financial instrument, including when combined with non-repayable support in a blending operation, shall be subject to the same rules and obligations as laid down in the Financial Regulation as other implementing partners. |
Or. en
Amendment 30
Proposal for a regulation
Article 25 – paragraph 3 a (new)
| Text proposed by the Commission | Amendment |
|---|---|
| 3a. The Commission may, in the implementation of the ECF InvestEU Instrument, rely on and reuse in full or in part the agreements with implementing partners concluded under Regulation (EU) 2021/523, and on assessments made by itself or other entities in the context of agreements under that Regulation. |
Or. en