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Regulation (EU) 2015/1017 of the European Parliament and of the Council of 25 June 2015 on the European Fund for Strategic Investments, the European Investment Advisory Hub and the European Investment Project Portal and amending Regulations (EU) No 1291/2013 and (EU) No 1316/2013 — the European Fund for Strategic Investments article 12 CELEX: 02015R1017-20210101 EU guarantee fund
The guarantee fund shall be endowed by:
contributions from the general budget of the Union;
returns on guarantee fund resources invested;
amounts recovered from defaulting debtors in accordance with the recovery procedure laid down in the EFSI Agreement as provided for in Article 4(2)(c)(iv);
revenues and any other payments received by the Union in accordance with the EFSI Agreement.
Following an assessment of the adequacy of the level of the guarantee fund in accordance with the report provided for in Article 16(6), the following payments shall be made:
any surplus shall be paid to the general budget of the Union as internal assigned revenue in accordance with Article 21(4) of Regulation (EU, Euratom) No 966/2012 for any budget lines which may have been used as a source of redeployment to the guarantee fund;
any replenishment of the guarantee fund shall be paid in annual tranches during a maximum period of three years starting in the year n+1. |