1. The Commission and the EIB Group shall form a partnership under this Regulation with the objective of supporting the implementation of the InvestEU Programme and fostering consistency, inclusivity, additionality, and efficient deployment. In accordance with this Regulation and as further specified in the agreements referred to in paragraph 3, the EIB Group:
(a)
shall implement the portion of the EU guarantee specified in Article 13(4);
(b)
shall support the implementation of the EU compartment of the InvestEU Fund, and, where applicable, the Member State compartment, in particular by:
(i)
contributing, together with potential implementing partners, to the investment guidelines in accordance with Article 8(9), contributing to the design of the Scoreboard in accordance with Article 22 and contributing to other documents that set out the operational guidance of the InvestEU Fund;
(ii)
defining, together with the Commission and potential implementing partners, the risk methodology and risk mapping system that relate to the financing and investment operations of the implementing partners in order to allow such operations to be assessed on a common rating scale;
(iii)
at the request of the Commission and in agreement with the potential implementing partner concerned, carrying out an assessment of the systems of that potential implementing partner and providing targeted technical advice on those systems, where and to the extent required by the conclusions of the audit of the pillar assessment in view of the implementation of the financial products envisaged by that potential implementing partner;
(iv)
providing a non-binding opinion on the banking-related aspects, in particular on the financial risk and financial terms related to the portion of the EU guarantee to be allocated to the implementing partner, other than to the EIB Group, as defined in the guarantee agreement to be concluded with that implementing partner;
(v)
carrying out simulations and projections of the financial risk and remuneration of the aggregate portfolio on the basis of assumptions agreed with the Commission;
(vi)
measuring the financial risk of the aggregate portfolio and providing financial reports on the aggregate portfolio; and
(vii)
providing restructuring and recovery services as set out in the agreement referred to in point (b) of paragraph 3 of this Article to the Commission at the request of the Commission and in agreement with the implementing partner in accordance with point (g) of Article 17(2) where that implementing partner is no longer responsible for pursuing restructuring and recovery activities under the relevant guarantee agreement;
(c)
may provide capacity building as referred to in point (h) of Article 25(2) to a national promotional bank or institution and other services, in relation to the implementation of financial products supported by the EU guarantee if requested by that national promotional bank or institution;
(d)
shall, in relation to the InvestEU Advisory Hub:
(i)
be allocated an amount of up to EUR 300 000 000 for the advisory initiatives referred to in Article 25 and operational tasks referred to in point (ii) of this point out of the financial envelope referred to in Article 4(3);
(ii)
advise the Commission and perform operational tasks set out in the agreement referred to in point (c) of paragraph 3, by:
—
providing support to the Commission in the design, the establishment and operation of the InvestEU Advisory Hub;
—
providing an assessment of requests for advisory support that the Commission does not consider to fall under existing advisory initiatives, with a view to supporting the allocation decision of the Commission in relation to advisory requests received under the central point of entry defined in point (a) of Article 25(2);
—
providing support to national promotional banks and institutions by providing capacity building referred to in point (h) of Article 25(2) in relation to the development of their advisory capabilities to enable them to participate in advisory initiatives, at the request of such banks or institutions;
—
at the request of the Commission and of a potential advisory partner, and subject to the agreement of the EIB Group, concluding on behalf of the Commission an agreement with the advisory partner for the delivery of advisory initiatives.
The EIB Group shall ensure that its tasks as referred to in point (d)(ii) of the first subparagraph are conducted entirely independently from its role as an advisory partner.
As appropriate, the Commission shall engage with the implementing partner on the basis of the findings of the opinion of the EIB Group referred to in point (b)(iv) of the first subparagraph. The Commission shall inform the EIB Group of the outcome of its decision-making.
2. The banking-related information transmitted to the EIB Group by the Commission in accordance with points (b)(ii), (b)(iv), (b)(v) and (b)(vi) of the first subparagraph of paragraph 1 shall be limited to information strictly necessary for the EIB Group to fulfil its obligations under those points. The Commission, in close dialogue with the EIB Group and potential implementing partners, shall define the nature and scope of that banking-related information, taking into account the requirements for the sound financial management of the EU guarantee, the legitimate interests of the implementing partner regarding commercially sensitive information and the needs of the EIB Group in meeting its obligations under those points.
3. The terms of the partnership shall be laid down in agreements, including:
(a)
on the granting and implementation of the portion of the EU guarantee specified in Article 13(4):
(i)
a guarantee agreement between the Commission and the EIB Group; or
(ii)
separate guarantee agreements between the Commission and the EIB and its subsidiaries or other entities established in accordance with Article 28(1) of the EIB Statute, as applicable;
(b)
an agreement between the Commission and the EIB Group in relation to points (b) and (c) of the first subparagraph of paragraph 1;
(c)
an agreement between the Commission and the EIB Group in relation to the InvestEU Advisory Hub;
(d)
service agreements between the EIB Group and national promotional banks and institutions concerning capacity building and other services provided under point (c) of the first subparagraph of paragraph 1.
4. Without prejudice to Articles 18(3) and 25(4) of this Regulation, the costs incurred by the EIB Group in the performance of tasks referred to in points (b) and (c) of the first subparagraph of paragraph 1 of this Article shall be in accordance with the terms of the agreement referred to in point (b) of paragraph 3 of this Article and may be covered from the repayments or revenues attributable to the EU guarantee, or from the provisioning, in accordance with Article 211(4) and (5) of the Financial Regulation, or may be charged to the financial envelope referred to in Article 4(3) of this Regulation, upon justification of those costs by the EIB Group, subject to an overall cap of EUR 7 000 000.
5. The costs incurred by the EIB Group for the performance of the operational tasks referred to in point (d)(ii) of the first subparagraph of paragraph 1 shall be fully covered by and paid from the amount referred to in point (d)(i) of the first subparagraph of paragraph 1, upon justification of those costs by the EIB Group, subject to an overall cap of EUR 10 000 000.