The Committee on Budgets adopted the report by Eider GARDIAZABAL RUBIAL (S&D, ES) on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EC, Euratom) No 480/2009 establishing a Guarantee Fund for external actions.
The Committee on Development, exercising its prerogative as an associated committee in accordance with Article 54 of the Rules of Procedure, also gave its opinion on the report.
The committee recommended that the European Parliament’s position, adopted at first reading following the ordinary legislative procedure, should amend the Commission proposal as follows:
Financial management of the Guarantee Fund: Members stated that the Commission shall ensure the financial management of the Fund, while taking into account the principles guiding the Union's external action. The Commission shall explain to the European Parliament how the management of the Fund is integrated into its broader development strategy.
The financial management of Fund shall be carried out under the highest standards of transparency and democratic accountability.
Annual report: Regulation (EC, Euratom) No 480/2009 stipulated that the target amount of the Fund shall be 9 % of the Communities’ total outstanding capital liabilities arising from each operation, increased by unpaid interest due.
The Commission proposal stipulated the amount of the Guarantee Fund in surplus exceeding 10% of the Union's total outstanding capital liabilities shall be paid back to the general budget of the Union.
According to Members, the annual report on the management of the Guarantee Fund in the previous calendar year and an assessment of the adequacy of the 9 % target amount and of the 10 % threshold, and of the asset management of the Guarantee Fund by the Commission.