Prolongation of EU Trust Funds
28-10-2020 - 17:10
In a joint AFET-DEVE-BUDG meeting on 28 October, Members discussed the Commission's proposal to extend the duration of EU Trust Funds until the end of 2021 as a bridging solution to the EU's next long-term budget, which is to enter into force on 1 January 2021 but for which the financing has not yet been agreed between Council and Parliament.
Since January 2013, the European Commission may create and administer Union Trust Funds in the field of external action. Such multi-donor trust funds are used as a financing mechanism to respond to major challenges in international cooperation, often in an emergency or post-emergency context, such as specific needs triggered by natural disasters, conflicts or pandemics.
Under the Financial Regulation, Parliament has to be consulted on their establishment or prolongation. Following the exchange of views, a draft position will be prepared in view of an official announcement during the November II plenary session.
Under the Financial Regulation, Parliament has to be consulted on their establishment or prolongation. Following the exchange of views, a draft position will be prepared in view of an official announcement during the November II plenary session.