17107/12 FL/ne 1 DG E 2 A COU CIL OF THE EUROPEA U ... - Europa

CHAPTER V
FIACIAL ISTRUMETS
Article 14
Type of financial instruments
1. Financial instruments set up in accordance with Title VIII of Regulation (EU)
No XXXX/2012 [New Financial Regulation], may be used to facilitate access to finance by
entities implementing actions contributing to projects of common interest as defined in
Regulations (EU) No XXXX/2012 [TEN-T Guidelines], (EU) No XXXX/2012 [Guidelines
for Trans-European energy infrastructure], and (EU) No XXXX/2012 [INFSO Guidelines],
and to the achievement of their objectives. The financial instruments shall be based on ex-ante
assessments of market imperfections or sub-optimal investment situations and investment
needs. The main terms, conditions and procedures for each financial instrument are laid down
in the Annex.
2. Financial instruments established under Regulation (EC) No 680/2007 may be merged, if
applicable and subject to a prior evaluation, to those created under this Regulation.
The merger of project bonds is subject to the interim report to be carried out in the second half
of 2013 as defined in Regulation (EC) No 680/2007. The start of the Project Bond Initiative is
subject to the results of the independent full evaluation of the Project Bond Initiative pilot
phase in 2015 as defined in Regulation (EC) No 680/2007. 52
52 AT, CY, CZ, DE, FI, HU, LV, NL, SE and UK in favour of this text.
Commission, BE, EE, FR, IE, IT, LU, PT, SI and SK in favour of the following text: "The
continuation of the Project Bond Initiative is subject to the independent full evaluation to be
carried out in 2015 as defined in Regulation (EC) No 680/2007."
17107/12 FL/ne 41
ANNEX DG E 2 A E