The aim of Decision Nº 633/2009/EC published in the OJEU on July 22nd granting a Community guarantee to the EIB against losses under loans and loan guarantees for projects outside the Community is focused on supporting the Community’s external action without affecting the Bank's credit standing.

The Community guarantee should cover losses under loans and loan guarantees for EIB-eligible investment projects carried out in countries covered by the Instrument for Pre-Accession Assistance (IPA), the European Neighbourhood and Partnership Instrument (ENPI) and the Development Cooperation Instrument (DCI), where the loan financing or guarantee has been granted according to a signed agreement which has neither expired nor been cancelled (EIB financing operations).

This global Community guarantee will be granted in respect of payments not received by the European Investment Bank (EIB), but due to it, in connection with loans and loan guarantees for EIB-eligible investment projects carried out in countries covered by the Decision, where the loan financing or guarantee has been granted according to a signed agreement which has neither expired nor been cancelled and has been granted in accordance with the EIB’s own rules and procedures and in support of the relevant external policy objectives of the Community.

Guarantee and ceilings

The Community guarantee will be restricted to 65 % of the aggregate amount of credits disbursed and guarantees provided under EIB financing operations, less amounts reimbursed, plus all related amounts. The maximum ceiling of the EIB financing operations throughout the period 2007-2013, less amounts cancelled, will not exceed 27.8 M€.

• Pre-accession countries: EUR 8 700 000 000.
• Neighbourhood and partnership countries: EUR 12 400 000 000; broken down into Mediterranean countries: EUR 8 700 000 000 and Eastern Europe, Southern Caucasus and Russia: EUR 3 700 000 000.
• Asia and Latin America: EUR 3 800 000 000; broken down into: Latin America: EUR 2 800 000 000; and Asia (including Central Asia): EUR 1 000 000 000.
• Republic of South Africa: EUR 900 000 000.
• An optional mandate of EUR 2 000 000 000.

EU External and Development Policies

The Community’s external relations policies have been revised and broadened in recent years. This has notably been the case for the Pre-Accession Strategy, for the European Neighbourhood Policy, for the renewed partnerships with Latin America and South-East Asia and for the European Union’s Strategic Partnerships with Russia, Central Asia, China and India.

This is further the case in relation to the Community’s development policies, which have now been extended to include all developing countries. Those development policies are one of the pillars of the Community’s external relations, realized through concrete projects and tender procedures, affording a solution tailored to the needs of developing countries.

Decision Nº 633/2009/EC will enter into force on the third day following its publication in the OJEU, replacing Decision 2008/847/EC.