Guarantee fund for External Actions

The Guarantee Fund for external Actions covers defaults on loans and loan guarantees granted to non-EU countries or for projects in non-EU countries.

Set up at a time when the guarantees on loans granted to non-Member countries were growing rapidly, the Fund was established:

  • to provide a "liquidity cushion" in order to avoid calling on the Community budget every time a default or late payment on a guaranteed loan arises; and
  • to create an instrument of budgetary discipline by laying down a financial framework for the development of Community policy on guarantees for Commission and EIB loans to non-Member countries.

The lending operations covered by the Fund relate to three different instruments, each of which benefits from a guarantee from the EU budget. These instruments are: European Investment Bank (EIB) lending, Euratom loans and Macro-Financial Assistance.

The Fund is provisioned from the general EU budget and has to be maintained at a certain percentage of the outstanding amount of the loans and loan guarantees covered by the Fund. This percentage, known as the target rate, is currently 9%

Status
running
Target Group
Organizations
Activities
Demonstration and investment activities
Subjects
-
Source Regions
European Union
Source Countries
-
Eligible Regions
European Union
Eligible Countries
-
Grant Types
Cooperation, collaboration
Funding Bodies
-
Languages
Bulgarian, Croatian, Czech, Danish, Dutch, English, Estonian, Finnish, French, German, Greek, Hungarian, Irish Gaelic, Italian, Latvian, Lithuanian, Maltese, Polish, Portuguese, Romanian, Slovak, Slovene, Spanish, Swedish
Support Types
-
Deadline Date
-
Programme
-
Programme Owner
Supporting Programme
-
Resources
http://ec.europa.eu/economy_finance/financial_operations/market/guarantee_fund/index_en.htm
Refering Grants
-
Annual
no

Focus

The mission of the Guarantee Fund for external actions is to pay the EU’s creditors in the event of default by the beneficiary in respect of:

  • a loan granted or guaranteed by the EU;
  • a guaranteed loan granted by the European Investment Bank (EIB) for which the EU acts as guarantor.

Moreover, the Guarantee Fund can cover only loans and guarantees carried out for the benefit of a third country or for the purpose of financing projects in a third country.


Duration

2014-2020


Proposal Submission

Please refer to the program website for details.


Terms And Conditions

Legal basis: Council Regulation (EC, Euratom) No 2728/94 of 31 October 1994 establishing a Guarantee Fund for external actions


Budget

€ 1.193, 07 bn  in current prices


Available Calls

There is no particular deadline for this call.


Total Funding Amount
-

Selection Criteria

Please refer to the program website for details.


Open To

Please refer to the program website for details.


Notes
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