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1. Member States, third countries and other third parties may contribute to the External Action Guarantee. By derogation from the second subparagraph of Article 218(2) of the Financial Regulation, the contracting parties to the Agreement on the European Economic Area may provide contributions either in the form of guarantees or cash. Third countries other than the contracting parties to the Agreement on the European Economic Area and other third parties shall provide contributions in the form of cash and subject to the opinion of the EFSD+ strategic board and approval by the Commission. Member States may request that their contributions be earmarked for the initiation of actions in specific regions, countries, sectors or existing investment windows. The Commission shall inform the European Parliament and the Council without delay of the contributions approved 2. Contributions in the form of a guarantee shall not exceed 50 % of the amount referred to in Article 31(4).

The contributions made by Member States and the contracting parties to the Agreement on the European Economic Area in the form of a guarantee may only be called for payments of guarantee calls after the funding from the general budget of the Union, increased by any other cash contributions, has been used on payments of guarantee calls. Any contribution may be used to cover guarantee calls regardless of earmarking. A contribution agreement shall be concluded between the Commission, on behalf of the Union, and the contributor, and shall contain, in particular, provisions concerning the payment conditions.