Guarantee Fund for external actions: target amount

Following confirmation by the Commissioner, Mr Hans van den BROEK, that the Commission could not accept all the amendments adopted by plenary, the rapporteur, Mr John TOMLINSON (PSE, UK), requested referral back to committee of his report, which was agreed. A more flexible attitude on the part of the Commission with regard to the demands was hoped for. In its amendments Parliament stressed the following aspects: - management of the Fund to be in the hands of the EIB rather than the Commission (as the latter proposed); - greater information on the operation of the Guarantee Fund and its management by means of regular Commission reports; - the budgetary authority to be informed in advance of any approval of specific loans and its implications for the Guarantee Fund. �