17107/12 FL/ne 1 DG E 2 A COU CIL OF THE EUROPEA U ... - Europa
17107/12 FL/ne 1 DG E 2 A COU CIL OF THE EUROPEA U ... - Europa
17107/12 FL/ne 1 DG E 2 A COU CIL OF THE EUROPEA U ... - Europa
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8. Duration of the Debt Instrument<br />
The last tranche of the Union contribution to the Debt Instrument shall be committed by the<br />
Commission no later than 31 December 2020. The actual approval of debt financing by the<br />
entrusted entities or the dedicated investment vehicles is to shall be finalised by 31 December<br />
2022.<br />
In the event of termination of the Debt Instrument prior to 2020 any balances on the fiduciary<br />
accounts, other than funds committed and funds <strong>ne</strong>eded to cover fees and expenses, shall be<br />
retur<strong>ne</strong>d to the respective CEF budget li<strong>ne</strong>s.<br />
9. Expiry<br />
Union contribution allocated to the Debt Instrument shall be reimbursed to the relevant fiduciary<br />
account as debt financing expires or is repaid. The fiduciary account shall maintain sufficient<br />
funding to cover fees or risks related to the Debt Instrument until their expiry.<br />
10. Reporting<br />
The reporting methods on the implementation of the Debt Instrument shall be agreed by the<br />
Commission in the agreement and the entrusted entity in li<strong>ne</strong> with the Financial Regulation.<br />
In addition, the Commission shall, with the support of the entrusted entities, report on<br />
implementation annually to the European Parliament and the Council until 2023 in accordance with<br />
Article 140(8) of the Financial Regulation.<br />
11. Monitoring, control and evaluation<br />
The Commission shall monitor the implementation of the Debt Instrument, including through on-<br />
the-spot controls as appropriate, and shall perform verification and controls in li<strong>ne</strong> with the<br />
Financial Regulation.<br />
<strong>12</strong>. Support Actions<br />
The implementation of the Debt Instrument may be supported by a set of accompanying measures.<br />
These may include, amongst other measures, technical and financial assistance; measures to raise<br />
the aware<strong>ne</strong>ss of capital providers; schemes to attract private investors.<br />
<strong>17107</strong>/<strong>12</strong> <strong>FL</strong>/<strong>ne</strong> 83<br />
ANNEX TO ANNEX <strong>DG</strong> E 2 A E