Guarantee fund for External actions
FIELDS:
- Economy, Finance and Tax
- External Relations and Foreign Affairs
BUDGET: € 1.193,07 million (current prices); € 1.083.1 million (2011 prices)
GENERAL OBJECTIVE:
- 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;
- 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.
