{"change_dates":[],"dossier":{"amendments":[{"authors":"Marielle de Sarnez","changes":{},"committee":["INTA"],"date":"2014-01-27T00:00:00","id":"PE527.982-4","location":[["Proposal for a decision","Recital 3 a (new)"]],"meps":[4335],"meta":{"created":"2019-07-03T05:11:04"},"new":["(3a) The Constitution being drawn up by","the National Constituent Assembly of","Tunisia includes some striking advances","in the field of individual rights and","freedoms and gender equality, which set","Tunisia resolutely on the path towards","democracy and the rule of law."],"orig_lang":"fr","peid":"PE527.982v01-00","reference":"2013/0416(COD)","seq":"4","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-527.982+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Marielle de Sarnez","changes":{},"committee":["INTA"],"date":"2014-01-27T00:00:00","id":"PE527.982-5","location":[["Proposal for a decision","Recital 5 a (new)"]],"meps":[4335],"meta":{"created":"2019-07-03T05:11:04"},"new":["(5a) The Union needs to support","development through trade rather than","aid, so in addition to Tunisia being","granted macro-financial assistance","Europeans also need to intensify their","economic and trade relations with","Tunisians; the two partners should enter","without delay into negotiations to","conclude a DCFTA which will enable","progressive economic integration between","Tunisia and the Union and will","supplement the 1995 Association","Agreement."],"orig_lang":"fr","peid":"PE527.982v01-00","reference":"2013/0416(COD)","seq":"5","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-527.982+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Vital Moreira, Nora Berra, Marielle de Sarnez, Franziska Keller","changes":{},"committee":["INTA"],"date":"2014-01-27T00:00:00","id":"PE527.982-6","justification":" Considering that proposed MFA is a loan, budgetary implications of increase by EUR 50 mio\n are limited to need to provision Guarantee Fund for External Actions (GFEA) with 9% of\n funds 2 years after they are borrowed in international markets (i.e. EUR 4.5 mio in 2016-\n 2017, assuming assistance is released in 2014-2015). The budget projections for 2014-2016\n were made under assumption that MFA for Ukraine (approved) and Egypt (envisaged) would\n be implemented, but since both of those are currently on hold, the amount of EUR 4.5 mio\n would be largely covered by foreseen provisioning of GFEA.","location":[[" Proposal for a decision","Article 1 \u2013 paragraph 1"]],"meps":[96930,96947,4335,96734],"meta":{"created":"2019-07-03T05:11:04"},"new":["1. The Union shall make macro-financial","assistance available to Tunisia (\u2018the","Union's macro-financial assistance\u2019) of a","maximum amount of EUR 300 million,","with a view to supporting Tunisia's","economic stabilisation and reforms. The","assistance shall contribute to covering","Tunisia's balance of payments needs as","identified in the IMF programme."],"old":["1. The Union shall make macro-financial","assistance available to Tunisia (\u2018the","Union's macro-financial assistance\u2019) of a","maximum amount of EUR 250 million,","with a view to supporting Tunisia's","economic stabilisation and reforms. The","assistance shall contribute to covering","Tunisia's balance of payments needs as","identified in the IMF programme."],"orig_lang":"en","peid":"PE527.982v01-00","reference":"2013/0416(COD)","seq":"6","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-527.982+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Jean-Pierre Audy","changes":{},"committee":["INTA"],"date":"2014-01-27T00:00:00","id":"PE527.982-7","location":[[" Proposal for a decision","Article 4 \u2013 paragraph 5"]],"meps":[33775],"meta":{"created":"2019-07-03T05:11:04"},"new":["5. The Union s macro-financial assistance","shall be disbursed to the Republic of","Tunisia via a bank account opened in its","name."],"old":["5. The Union's macro-financial assistance","shall be disbursed to the Central Bank of","Tunisia. Subject to provisions to be agreed","in the Memorandum of Understanding,","including a confirmation of residual","budgetary financing needs, the Union","funds may be transferred to the Tunisian","","","Ministry of Finance as the final","beneficiary."],"orig_lang":"fr","peid":"PE527.982v01-00","reference":"2013/0416(COD)","seq":"7","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-527.982+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Jean-Pierre Audy","changes":{},"committee":["INTA"],"date":"2014-01-27T00:00:00","id":"PE527.982-8","location":[["Proposal for a decision","Article 6 \u2013 paragraph 3 \u2013 point a"]],"meps":[33775],"meta":{"created":"2019-07-03T05:11:04"},"new":["(a) ensuring that Tunisia regularly checks","that financing provided from the budget of","the Union has been properly used, takes","appropriate measures to prevent","irregularities and fraud, and, if necessary,","takes legal action to recover any funds","provided under this Decision that have","been misappropriated. The Republic of","Tunisia shall publish an annual report on","the use of the funds to which shall be","attached an audit certificate issued by the","Tunisian National Audit Office certifying","the accuracy of the information given.","This report shall be attached to the report","provided for in Article 8 from the","Commission to the European Parliament","and to the Council."],"old":["(a) ensuring that Tunisia regularly checks","that financing provided from the budget of","the Union has been properly used, takes","appropriate measures to prevent","irregularities and fraud, and, if necessary,","takes legal action to recover any funds","provided under this Decision that have","been misappropriated;"],"orig_lang":"fr","peid":"PE527.982v01-00","reference":"2013/0416(COD)","seq":"8","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-527.982+01+DOC+PDF+V0//EN&language=EN"}],"changes":{"2013-12-17T23:24:44":[{"data":[{"body":"EC","commission":[],"date":"2013-12-05T00:00:00","docs":[{"celexid":"CELEX:52013PC0860:EN","title":"COM(2013)0860","type":"Legislative proposal published"}],"type":"Legislative proposal"}],"path":["activities"],"type":"added"},{"data":[],"path":["other"],"type":"added"},{"data":[{"body":"EP","committee":"AFET","committee_full":"Foreign Affairs","responsible":false},{"body":"EP","committee":"BUDG","committee_full":"Budgets","responsible":false},{"body":"EP","committee":"INTA","committee_full":"International Trade","responsible":true}],"path":["committees"],"type":"added"},{"data":{"European Commission":{"title":"PreLex","url":"http://ec.europa.eu/prelex/liste_resultats.cfm?CL=en&ReqId=0&DocType=COD&DocYear=2013&DocNum=0416"}},"path":["links"],"type":"added"},{"data":{"geographical_area":["Tunisia"],"instrument":"Decision","legal_basis":["Treaty on the Functioning of the EU TFEU 212"],"reference":"2013/0416(COD)","stage_reached":"Preparatory phase in Parliament","subject":["6.20.07 Macro-financial assistance to third countries"],"subtype":"Legislation","title":"Macro-financial assistance to Tunisia","type":"COD - Ordinary legislative procedure (ex-codecision procedure)"},"path":["procedure"],"type":"added"}],"2013-12-21T02:18:11":[{"data":"http://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!DocNumber&lg=EN&type_doc=COMfinal&an_doc=2013&nu_doc=0860","path":["activities",0,"docs",0,"url"],"type":"added"},{"data":{"title":"SWD(2013)0498","type":"Document attached to the procedure","url":"http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=SWD:2013:0498:FIN:EN:PDF"},"path":["activities",0,"docs",1],"type":"added"},{"data":"2013-12-17T00:00:00","path":["committees",2,"date"],"type":"added"},{"data":[{"group":"S&D","mepref":"4de187020fb8127435bdc130","name":"MOREIRA Vital"}],"path":["committees",2,"rapporteur"],"type":"added"}],"2014-01-09T02:18:41":[{"data":{"Commissioner":"REHN Olli","DG":{"title":"Economic and Financial Affairs","url":"http://ec.europa.eu/dgs/economy_finance/index_en.htm"}},"path":["activities",0,"commission",0],"type":"added"},{"data":{"body":"EP","date":"2014-02-13T00:00:00","type":"Vote scheduled in committee, 1st reading/single reading"},"path":["activities",1],"type":"added"},{"data":{"body":"EP","date":"2014-03-12T00:00:00","type":"Indicative plenary sitting date, 1st reading/single reading"},"path":["activities",2],"type":"added"},{"data":{"body":"EC","commissioner":"REHN Olli","dg":{"title":"Economic and Financial Affairs","url":"http://ec.europa.eu/dgs/economy_finance/index_en.htm"}},"path":["other",0],"type":"added"}],"2014-01-14T02:06:05":[{"data":[{"group":"EPP","mepref":"4ff331f1b819f27075000000","name":"BERRA Nora"},{"group":"ALDE","mepref":"4de184300fb8127435bdbd36","name":"DE SARNEZ Marielle"},{"group":"Verts/ALE","mepref":"4de186010fb8127435bdbfc5","name":"KELLER Franziska"},{"group":"ECR","mepref":"4de1897d0fb8127435bdc4ae","name":"ZAHRADIL Jan"},{"group":"GUE/NGL","mepref":"4de187070fb8127435bdc136","name":"MURPHY Paul"}],"path":["committees",2,"shadows"],"type":"added"}],"2014-01-16T02:10:35":[{"data":{"body":"EP","date":"2014-01-13T00:00:00","docs":[{"title":"PE526.226","type":"Committee draft report","url":"http://www.europarl.europa.eu/sides/getDoc.do?type=COMPARL&mode=XML&language=EN&reference=PE526.226"}],"type":"Committee draft report"},"path":["activities",1],"type":"added"},{"data":["Preparatory phase in Parliament","Awaiting committee decision"],"path":["procedure","stage_reached"],"type":"changed"},{"data":"INTA/7/14777","path":["procedure","dossier_of_the_committee"],"type":"added"}],"2014-01-18T02:34:26":[{"data":[{"title":"PE526.226","type":"Committee draft report","url":"http://www.europarl.europa.eu/sides/getDoc.do?type=COMPARL&mode=XML&language=EN&reference=PE526.226"}],"path":["activities",1,"docs"],"type":"deleted"},{"data":[{"body":"EP","committee":"AFET","committee_full":"Foreign Affairs","responsible":false},{"body":"EP","committee":"BUDG","committee_full":"Budgets","responsible":false},{"body":"EP","committee":"INTA","committee_full":"International Trade","date":"2013-12-17T00:00:00","rapporteur":[{"group":"S&D","mepref":"4de187020fb8127435bdc130","name":"MOREIRA Vital"}],"responsible":true,"shadows":[{"group":"EPP","mepref":"4ff331f1b819f27075000000","name":"BERRA Nora"},{"group":"ALDE","mepref":"4de184300fb8127435bdbd36","name":"DE SARNEZ Marielle"},{"group":"Verts/ALE","mepref":"4de186010fb8127435bdbfc5","name":"KELLER Franziska"},{"group":"ECR","mepref":"4de1897d0fb8127435bdc4ae","name":"ZAHRADIL Jan"},{"group":"GUE/NGL","mepref":"4de187070fb8127435bdc136","name":"MURPHY Paul"}]}],"path":["activities",1,"committees"],"type":"added"},{"data":["Committee draft report","Committee referral announced in Parliament, 1st reading/single reading"],"path":["activities",1,"type"],"type":"changed"},{"data":{"title":"SWD(2013)0498","type":"Document attached to the procedure","url":"http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=SWD:2013:0498:FIN:EN:PDF"},"path":["activities",0,"docs",1],"type":"deleted"},{"data":["Legislative proposal","Legislative proposal published"],"path":["activities",0,"type"],"type":"changed"}],"2014-01-25T03:04:01":[{"data":["
PURPOSE: to provide macro-financial assistance to the\nRepublic of Tunisia for an amount of EUR 250 million.
\nPROPOSED ACT: Decision of the European Parliament and\nof the Council.
\nROLE OF THE EUROPEAN PARLIAMENT: the European\nParliament decides in accordance with the ordinary legislative\nprocedure and on an equal footing with the Council.
\nBACKGROUND: the Tunisian economy has been negatively\naffected by the domestic unrest that followed the 2011 revolution,\nregional instability (notably the war in Libya). In particular, the\nfiscal and balance of payments situation has deteriorated quite\nmarkedly, generating important financing needs.
\nAt the same time, following the ousting of President\nBen Ali on 14 January 2011, the country is taking significant steps\ntowards the establishment of democratic mechanisms. However,\n the political transition has not been without difficulties\nand episodes of instability.
\nAgainst this background, the Tunisian authorities\nreached in mid-April 2013 an agreement with the International\nMonetary Fund (IMF) staff on a 24-month Stand-By Arrangement (SBA)\nin the amount of USD 1.75 billion (400% of quota), which was\napproved by the IMF Board in June. The aim of the SBA is to support\nthe governments economic reform programme, reduce economic\nvulnerabilities and foster sustainable and inclusive\ngrowth.
\nIn this context, the Tunisian government requested\nMacro-Financial Assistance (MFA) from the EU in the amount of EUR\n500 million on 28 August 2013, with a portion in the form of a\ngrant. The European Commission submits to the European Parliament\nand the Council a proposal to grant a MFA to the Republic of\nTunisia amounting to a maximum of EUR 250 million. The assistance\nwould take the form of medium-term loans, with no grant component\nbeing envisaged given that Tunisia does not meet the eligibility\ncriteria for the use of grants in MFA operations.
\nCONTENT: the proposal seeks to make available to\nTunisia MFA for a total maximum amount of EUR 250 million in\norder to:
\nThe full amount of the Union's macro-financial\nassistance shall be provided to Tunisia in the form of\nloans. The loans shall have a maximum maturity of 15\nyears.
\nThe Commission shall be empowered on behalf of the\nUnion to borrow the necessary funds on the capital markets or from\nfinancial institutions and to on-lend them to Tunisia.
\nDisbursement of assistance: the assistance is planned to be disbursed in three\nloan instalments:
\n- the disbursement of the first instalment (EUR 90\nmillion) is expected to take place in mid-2014;
\n- the second instalment (EUR 80 million), conditional\non a number of policy measures, could be disbursed towards the end\nof 2014;
\n- the third and last instalment (EUR 80 million) could\nbe made available, provided the policy measures are met, during the\nfirst half of 2015.
\nImplementing conditions:
\nThe proposed MFA would be made available for two\nand a half years, starting from the first day after the entry\ninto force of the Memorandum of Understanding.
\nDecreased assistance:\nwhere the financing needs of Tunisia decrease fundamentally during\nthe period of the disbursement of the Union's macro-financial\nassistance compared to the initial projections, the Commission,\nacting in accordance with the examination procedure, shall reduce\nthe amount of the assistance or suspend or cancel it.
\nWhere the circumstances permit, and if Tunisia so\nrequests, the Commission may take the steps necessary to ensure\nthat an early repayment clause is included in the loan terms and\nconditions and that it is matched by a corresponding clause in the\nterms and conditions of the borrowing operations.
\nImplementing conditions:\nin order to ensure uniform conditions of implementation and for\nreasons of efficiency, the Commission should be empowered to\nnegotiate such conditions with the Tunisian authorities under the\nsupervision of the committee of representatives of the Member\nStates in accordance with Regulation (EU) No 182/2011.\nUnder that Regulation, the advisory procedure should, as a general\nrule, apply in all cases other than as provided for in that\nRegulation. Considering the potentially important impact of\nassistance of more than
\nEUR 90 million, it is appropriate that the\nexamination procedure be used for operations above that\nthreshold as well as to any reduction, suspension or cancellation\nof the assistance.
\nReports: by 30 June of\neach year, the Commission shall submit to the European Parliament\nand to the Council a report on the implementation of this Decision\nin the preceding year, including an evaluation of that\nimplementation.
\nNot later than two years after the expiry of the\navailability period, the Commission shall submit to the European\nParliament and to the Council an ex post evaluation report,\nassessing the results and efficiency of the completed Union's\nmacro-financial assistance and the extent to which it has\ncontributed to the aims of the assistance.
\nBUDGETARY IMPLICATIONS: the planned assistance would\nbe provided in the form of a loan and should be financed through a\nborrowing operation that the Commission will conduct on behalf of\nthe EU. The budgetary costs of the assistance will correspond to\nthe provisioning, at a rate of 9%, of the amounts disbursed in the\nguarantee fund for external lending of the EU, from budget line 01\n03 06 (\"the provisioning of the Guarantee Fund\").
\nAssuming that the first and second loan disbursements\nwill be made in 2014 for a total amount of EUR 170 million and the\nthird loan disbursement in 2015 for the amount of EUR 80 million,\nand according to the rules governing the guarantee fund mechanism,\nthe provisioning will take place in the 2016-17 budgets.
\nThe Committee on International Trade adopted the\nreport by Vital MOREIRA (S&D, PT) the proposal for a decision\nof the European Parliament and of the Council providing\nmacro-financial assistance to the Republic of Tunisia.
\nThe committee recommended that Parliaments\nposition in first reading following the ordinary legislative\nprocedure should amend the Commission position as\nfollows:
\nAmount of macro-financial assistance: the amount of macro-financial assistance to be\ngranted to Tunisia has been increased from EUR 250 million to\nEUR 300 million, with a view to supporting Tunisia's\neconomic stabilisation and reforms.
\nIndividual rights and freedoms: in a recital, it has been stipulated that the\nConstitution being drawn up by the National Constituent Assembly of\nTunisia includes some advances in the field of individual rights\nand freedoms and gender equality, which set Tunisia on the path\ntowards democracy and the rule of law.
\nIt should be noted that the amendments contained in\nthe text reflect the considerations and principles contained in\nthat Joint Declaration; and/or harmonise the wording of this\nproposal with the recitals and articles contained in the latest MFA\ndecision (in particular Decision No 778/2013/EU of\nthe European Parliament and of the Council of 12 August 2013\nproviding further macro-financial assistance to\nGeorgia).
\nPURPOSE: to provide macro-financial assistance to the\nRepublic of Tunisia for an amount of EUR 250 million.
\nPROPOSED ACT: Decision of the European Parliament and\nof the Council.
\nROLE OF THE EUROPEAN PARLIAMENT: the European\nParliament decides in accordance with the ordinary legislative\nprocedure and on an equal footing with the Council.
\nBACKGROUND: the Tunisian economy has been negatively\naffected by the domestic unrest that followed the 2011 revolution,\nregional instability (notably the war in Libya). In particular, the\nfiscal and balance of payments situation has deteriorated quite\nmarkedly, generating important financing needs.
\nAt the same time, following the ousting of President\nBen Ali on 14 January 2011, the country is taking significant steps\ntowards the establishment of democratic mechanisms. However,\n the political transition has not been without difficulties\nand episodes of instability.
\nAgainst this background, the Tunisian authorities\nreached in mid-April 2013 an agreement with the International\nMonetary Fund (IMF) staff on a 24-month Stand-By Arrangement (SBA)\nin the amount of USD 1.75 billion (400% of quota), which was\napproved by the IMF Board in June. The aim of the SBA is to support\nthe governments economic reform programme, reduce economic\nvulnerabilities and foster sustainable and inclusive\ngrowth.
\nIn this context, the Tunisian government requested\nMacro-Financial Assistance (MFA) from the EU in the amount of EUR\n500 million on 28 August 2013, with a portion in the form of a\ngrant. The European Commission submits to the European Parliament\nand the Council a proposal to grant a MFA to the Republic of\nTunisia amounting to a maximum of EUR 250 million. The assistance\nwould take the form of medium-term loans, with no grant component\nbeing envisaged given that Tunisia does not meet the eligibility\ncriteria for the use of grants in MFA operations.
\nCONTENT: the proposal seeks to make available to\nTunisia MFA for a total maximum amount of EUR 250 million in\norder to:
\nThe full amount of the Union's macro-financial\nassistance shall be provided to Tunisia in the form of\nloans. The loans shall have a maximum maturity of 15\nyears.
\nThe Commission shall be empowered on behalf of the\nUnion to borrow the necessary funds on the capital markets or from\nfinancial institutions and to on-lend them to Tunisia.
\nDisbursement of assistance: the assistance is planned to be disbursed in three\nloan instalments:
\n- the disbursement of the first instalment (EUR 90\nmillion) is expected to take place in mid-2014;
\n- the second instalment (EUR 80 million), conditional\non a number of policy measures, could be disbursed towards the end\nof 2014;
\n- the third and last instalment (EUR 80 million) could\nbe made available, provided the policy measures are met, during the\nfirst half of 2015.
\nImplementing conditions:
\nThe proposed MFA would be made available for two\nand a half years, starting from the first day after the entry\ninto force of the Memorandum of Understanding.
\nDecreased assistance:\nwhere the financing needs of Tunisia decrease fundamentally during\nthe period of the disbursement of the Union's macro-financial\nassistance compared to the initial projections, the Commission,\nacting in accordance with the examination procedure, shall reduce\nthe amount of the assistance or suspend or cancel it.
\nWhere the circumstances permit, and if Tunisia so\nrequests, the Commission may take the steps necessary to ensure\nthat an early repayment clause is included in the loan terms and\nconditions and that it is matched by a corresponding clause in the\nterms and conditions of the borrowing operations.
\nImplementing conditions:\nin order to ensure uniform conditions of implementation and for\nreasons of efficiency, the Commission should be empowered to\nnegotiate such conditions with the Tunisian authorities under the\nsupervision of the committee of representatives of the Member\nStates in accordance with Regulation (EU) No 182/2011.\nUnder that Regulation, the advisory procedure should, as a general\nrule, apply in all cases other than as provided for in that\nRegulation. Considering the potentially important impact of\nassistance of more than
\nEUR 90 million, it is appropriate that the\nexamination procedure be used for operations above that\nthreshold as well as to any reduction, suspension or cancellation\nof the assistance.
\nReports: by 30 June of\neach year, the Commission shall submit to the European Parliament\nand to the Council a report on the implementation of this Decision\nin the preceding year, including an evaluation of that\nimplementation.
\nNot later than two years after the expiry of the\navailability period, the Commission shall submit to the European\nParliament and to the Council an ex post evaluation report,\nassessing the results and efficiency of the completed Union's\nmacro-financial assistance and the extent to which it has\ncontributed to the aims of the assistance.
\nBUDGETARY IMPLICATIONS: the planned assistance would\nbe provided in the form of a loan and should be financed through a\nborrowing operation that the Commission will conduct on behalf of\nthe EU. The budgetary costs of the assistance will correspond to\nthe provisioning, at a rate of 9%, of the amounts disbursed in the\nguarantee fund for external lending of the EU, from budget line 01\n03 06 (\"the provisioning of the Guarantee Fund\").
\nAssuming that the first and second loan disbursements\nwill be made in 2014 for a total amount of EUR 170 million and the\nthird loan disbursement in 2015 for the amount of EUR 80 million,\nand according to the rules governing the guarantee fund mechanism,\nthe provisioning will take place in the 2016-17 budgets.
\nPURPOSE: to provide macro-financial assistance to the\nRepublic of Tunisia for an amount of EUR 250 million.
\nPROPOSED ACT: Decision of the European Parliament and\nof the Council.
\nROLE OF THE EUROPEAN PARLIAMENT: the European\nParliament decides in accordance with the ordinary legislative\nprocedure and on an equal footing with the Council.
\nBACKGROUND: the Tunisian economy has been negatively\naffected by the domestic unrest that followed the 2011 revolution,\nregional instability (notably the war in Libya). In particular, the\nfiscal and balance of payments situation has deteriorated quite\nmarkedly, generating important financing needs.
\nAt the same time, following the ousting of President\nBen Ali on 14 January 2011, the country is taking significant steps\ntowards the establishment of democratic mechanisms. However,\n the political transition has not been without difficulties\nand episodes of instability.
\nAgainst this background, the Tunisian authorities\nreached in mid-April 2013 an agreement with the International\nMonetary Fund (IMF) staff on a 24-month Stand-By Arrangement (SBA)\nin the amount of USD 1.75 billion (400% of quota), which was\napproved by the IMF Board in June. The aim of the SBA is to support\nthe governments economic reform programme, reduce economic\nvulnerabilities and foster sustainable and inclusive\ngrowth.
\nIn this context, the Tunisian government requested\nMacro-Financial Assistance (MFA) from the EU in the amount of EUR\n500 million on 28 August 2013, with a portion in the form of a\ngrant. The European Commission submits to the European Parliament\nand the Council a proposal to grant a MFA to the Republic of\nTunisia amounting to a maximum of EUR 250 million. The assistance\nwould take the form of medium-term loans, with no grant component\nbeing envisaged given that Tunisia does not meet the eligibility\ncriteria for the use of grants in MFA operations.
\nCONTENT: the proposal seeks to make available to\nTunisia MFA for a total maximum amount of EUR 250 million in\norder to:
\nThe full amount of the Union's macro-financial\nassistance shall be provided to Tunisia in the form of\nloans. The loans shall have a maximum maturity of 15\nyears.
\nThe Commission shall be empowered on behalf of the\nUnion to borrow the necessary funds on the capital markets or from\nfinancial institutions and to on-lend them to Tunisia.
\nDisbursement of assistance: the assistance is planned to be disbursed in three\nloan instalments:
\n- the disbursement of the first instalment (EUR 90\nmillion) is expected to take place in mid-2014;
\n- the second instalment (EUR 80 million), conditional\non a number of policy measures, could be disbursed towards the end\nof 2014;
\n- the third and last instalment (EUR 80 million) could\nbe made available, provided the policy measures are met, during the\nfirst half of 2015.
\nImplementing conditions:
\nThe proposed MFA would be made available for two\nand a half years, starting from the first day after the entry\ninto force of the Memorandum of Understanding.
\nDecreased assistance:\nwhere the financing needs of Tunisia decrease fundamentally during\nthe period of the disbursement of the Union's macro-financial\nassistance compared to the initial projections, the Commission,\nacting in accordance with the examination procedure, shall reduce\nthe amount of the assistance or suspend or cancel it.
\nWhere the circumstances permit, and if Tunisia so\nrequests, the Commission may take the steps necessary to ensure\nthat an early repayment clause is included in the loan terms and\nconditions and that it is matched by a corresponding clause in the\nterms and conditions of the borrowing operations.
\nImplementing conditions:\nin order to ensure uniform conditions of implementation and for\nreasons of efficiency, the Commission should be empowered to\nnegotiate such conditions with the Tunisian authorities under the\nsupervision of the committee of representatives of the Member\nStates in accordance with Regulation (EU) No 182/2011.\nUnder that Regulation, the advisory procedure should, as a general\nrule, apply in all cases other than as provided for in that\nRegulation. Considering the potentially important impact of\nassistance of more than
\nEUR 90 million, it is appropriate that the\nexamination procedure be used for operations above that\nthreshold as well as to any reduction, suspension or cancellation\nof the assistance.
\nReports: by 30 June of\neach year, the Commission shall submit to the European Parliament\nand to the Council a report on the implementation of this Decision\nin the preceding year, including an evaluation of that\nimplementation.
\nNot later than two years after the expiry of the\navailability period, the Commission shall submit to the European\nParliament and to the Council an ex post evaluation report,\nassessing the results and efficiency of the completed Union's\nmacro-financial assistance and the extent to which it has\ncontributed to the aims of the assistance.
\nBUDGETARY IMPLICATIONS: the planned assistance would\nbe provided in the form of a loan and should be financed through a\nborrowing operation that the Commission will conduct on behalf of\nthe EU. The budgetary costs of the assistance will correspond to\nthe provisioning, at a rate of 9%, of the amounts disbursed in the\nguarantee fund for external lending of the EU, from budget line 01\n03 06 (\"the provisioning of the Guarantee Fund\").
\nAssuming that the first and second loan disbursements\nwill be made in 2014 for a total amount of EUR 170 million and the\nthird loan disbursement in 2015 for the amount of EUR 80 million,\nand according to the rules governing the guarantee fund mechanism,\nthe provisioning will take place in the 2016-17 budgets.
\nThe European Parliament adopted by 488 votes to 51\nwith 17 abstentions, a legislative resolution on the proposal\nfor a decision of the European Parliament and of the Council\nproviding macro-financial assistance to the Republic of\nTunisia.
\nParliament adopted its position at first reading under\nthe ordinary legislative procedure. The amendments adopted in\nplenary were the result of a compromise between Parliament and\nCouncil. They amend the Commissions proposal as\nfollows:
\nAmount of\nmacro-financial assistance: the amount of\nmacro-financial assistance to be granted to Tunisia has been\nincreased from EUR 250 million to EUR 300 million, with\na view to supporting Tunisia's economic stabilisation and\nreforms.
\nIndividual\nrights and freedoms: in a recital, it was\nstipulated that the Constitution being drawn up by the National\nConstituent Assembly of Tunisia included some advances in the field\nof individual rights and freedoms and gender equality, which set\nTunisia on the path towards democracy and the rule of\nlaw.
\nIt should be noted that the\namendments contained in the text reflect the considerations and\nprinciples contained in that Joint Declaration and/or harmonise the\nwording of the proposal with the recitals and articles contained in\nthe latest MFA decision (in particular Decision\nNo 778/2013/EU of the European\nParliament and of the Council providing further macro-financial\nassistance to Georgia).
\nPURPOSE: to provide macro-financial assistance to the\nRepublic of Tunisia for an amount of EUR 250 million.
\nLEGISLATIVE ACT: Directive No 534/2014/EU of the\nEuropean Parliament and of the Council providing macro-financial\nassistance to the Republic of Tunisia.
\nCONTENT: the Decision seeks to make macro-financial\nassistance available to Tunisia of a maximum amount of EUR 300\nmillion, with a view to:
\nThe full amount of the Union's macro-financial\nassistance shall be provided to Tunisia in the form of\nloans. The loans shall have a maximum maturity of 15\nyears.
\nThe Commission shall be empowered on behalf of the\nUnion to borrow the necessary funds on the capital markets or from\nfinancial institutions and to on-lend them to Tunisia.
\nThe Union's macro-financial assistance shall be made\navailable for a period of two and a half years, starting from the\nfirst day after the entry into force of the Memorandum of\nUnderstanding referred to in this Decision.
\nDemocratic clause: a\npre-condition for granting the Union's macro-financial assistance\nshall be that Tunisia respects effective democratic mechanisms,\nincluding a multi-party parliamentary system and the rule of law,\nand guarantees respect for human rights. The Commission shall\nmonitor the fulfilment of this pre-condition throughout the\nlife-cycle of the Union's macro-financial assistance.
\nImplementing conditions of the loan: the Commission, in accordance with the examination\nprocedure, shall agree with the Tunisian authorities on clearly\ndefined economic policy and financial conditions, focusing on\nstructural reforms and sound public finances, to which the Union's\nmacro-financial assistance is to be subject, to be laid down in a\nMemorandum of Understanding, which shall include a time-frame for\nthe fulfilment of those conditions. The economic policy and\nfinancial conditions set out in the Memorandum of Understanding\nshall be consistent with the agreements or understandings,\nincluding the macro-economic adjustment and structural reform\nprogrammes implemented by Tunisia, with the support of the\nIMF.
\nThe detailed financial terms of the Union's\nmacro-financial assistance shall be laid down in a Loan Agreement\nto be agreed between the Commission and the Tunisian authorities.\nThe Commission shall verify at regular intervals that the\nconditions continue to be met, including whether the economic\npolicies of Tunisia are in accordance with the objectives of the\nUnion's macro-financial assistance. In so doing, the Commission\nshall coordinate closely with the IMF and the World Bank and, where\nnecessary, with the European Parliament and the\nCouncil.
\nDisbursement of assistance: the Union's macro-financial assistance shall be made\navailable by the Commission in three loan instalments. The size of\neach instalment shall be laid down in the Memorandum of\nUnderstanding.
\nWhere the conditions as regards the release of the\ninstalments are not met, the Commission shall temporarily suspend\nor cancel the disbursement of the Union's macro-financial\nassistance and inform the European Parliament and the Council of\nthe reasons for that suspension or cancellation.
\nDecreased assistance:\nwhere the financing needs of Tunisia decrease fundamentally during\nthe period of the disbursement of the Union's macro-financial\nassistance compared to the initial projections, the Commission,\nacting in accordance with the examination procedure, shall reduce\nthe amount of the assistance or suspend or cancel it.
\nWhere the circumstances permit, and if Tunisia so\nrequests, the Commission may take the steps necessary to ensure\nthat an early repayment clause is included in the loan terms\nand conditions and that it is matched by a corresponding clause in\nthe terms and conditions of the borrowing operations.
\nImplementing conditions:\nin order to ensure uniform conditions of implementation and for\nreasons of efficiency, the Commission should be empowered to\nnegotiate such conditions with the Tunisian authorities under the\nsupervision of the committee of representatives of the Member\nStates in accordance with Regulation (EU) No 182/2011.\nUnder that Regulation, the advisory procedure should, as a general\nrule, apply in all cases other than as provided for in that\nRegulation. Considering the potentially important impact of\nassistance of more than EUR 90 million, it is appropriate that the\nexamination procedure be used for operations above that\nthreshold as well as to any reduction, suspension or cancellation\nof the assistance.
\nImplementation and procedural rules:
\nImplementation and rules of procedure: in accordance with the examination\nprocedure and the joint EP/Council declaration set out in\nthe Annex to the Decision granting additional macrofinancial assistance to\nGeorgia (used as an overall general framework to\ngrant Union macrofinancial assistance), the Commission shall agree\nwith the Tunisian authorities on clearly defined economic policy\nand financial conditions, focusing on structural reforms and sound\npublic finances, to which the Unions macro-financial\nassistance is to be subject.
\nReport: by 30 June of\neach year, the Commission shall submit to the European Parliament\nand to the Council a report on the implementation of this Decision\nin the preceding year.
\nNot later than two years after the expiry of the\navailability period, the Commission shall submit to the European\nParliament and to the Council an ex post evaluation report,\nassessing the results and efficiency of the completed Union's\nmacro-financial assistance and the extent to which it has\ncontributed to the aims of the assistance.
\nENTRY INTO FORCE: 24.05.2014.
\nPURPOSE: to provide macro-financial assistance to the\nRepublic of Tunisia for an amount of EUR 250 million.
\nPROPOSED ACT: Decision of the European Parliament and\nof the Council.
\nROLE OF THE EUROPEAN PARLIAMENT: the European\nParliament decides in accordance with the ordinary legislative\nprocedure and on an equal footing with the Council.
\nBACKGROUND: the Tunisian economy has been negatively\naffected by the domestic unrest that followed the 2011 revolution,\nregional instability (notably the war in Libya). In particular, the\nfiscal and balance of payments situation has deteriorated quite\nmarkedly, generating important financing needs.
\nAt the same time, following the ousting of President\nBen Ali on 14 January 2011, the country is taking significant steps\ntowards the establishment of democratic mechanisms. However,\n the political transition has not been without difficulties\nand episodes of instability.
\nAgainst this background, the Tunisian authorities\nreached in mid-April 2013 an agreement with the International\nMonetary Fund (IMF) staff on a 24-month Stand-By Arrangement (SBA)\nin the amount of USD 1.75 billion (400% of quota), which was\napproved by the IMF Board in June. The aim of the SBA is to support\nthe governments economic reform programme, reduce economic\nvulnerabilities and foster sustainable and inclusive\ngrowth.
\nIn this context, the Tunisian government requested\nMacro-Financial Assistance (MFA) from the EU in the amount of EUR\n500 million on 28 August 2013, with a portion in the form of a\ngrant. The European Commission submits to the European Parliament\nand the Council a proposal to grant a MFA to the Republic of\nTunisia amounting to a maximum of EUR 250 million. The assistance\nwould take the form of medium-term loans, with no grant component\nbeing envisaged given that Tunisia does not meet the eligibility\ncriteria for the use of grants in MFA operations.
\nCONTENT: the proposal seeks to make available to\nTunisia MFA for a total maximum amount of EUR 250 million in\norder to:
\nThe full amount of the Union's macro-financial\nassistance shall be provided to Tunisia in the form of\nloans. The loans shall have a maximum maturity of 15\nyears.
\nThe Commission shall be empowered on behalf of the\nUnion to borrow the necessary funds on the capital markets or from\nfinancial institutions and to on-lend them to Tunisia.
\nDisbursement of assistance: the assistance is planned to be disbursed in three\nloan instalments:
\n- the disbursement of the first instalment (EUR 90\nmillion) is expected to take place in mid-2014;
\n- the second instalment (EUR 80 million), conditional\non a number of policy measures, could be disbursed towards the end\nof 2014;
\n- the third and last instalment (EUR 80 million) could\nbe made available, provided the policy measures are met, during the\nfirst half of 2015.
\nImplementing conditions:
\nThe proposed MFA would be made available for two\nand a half years, starting from the first day after the entry\ninto force of the Memorandum of Understanding.
\nDecreased assistance:\nwhere the financing needs of Tunisia decrease fundamentally during\nthe period of the disbursement of the Union's macro-financial\nassistance compared to the initial projections, the Commission,\nacting in accordance with the examination procedure, shall reduce\nthe amount of the assistance or suspend or cancel it.
\nWhere the circumstances permit, and if Tunisia so\nrequests, the Commission may take the steps necessary to ensure\nthat an early repayment clause is included in the loan terms and\nconditions and that it is matched by a corresponding clause in the\nterms and conditions of the borrowing operations.
\nImplementing conditions:\nin order to ensure uniform conditions of implementation and for\nreasons of efficiency, the Commission should be empowered to\nnegotiate such conditions with the Tunisian authorities under the\nsupervision of the committee of representatives of the Member\nStates in accordance with Regulation (EU) No 182/2011.\nUnder that Regulation, the advisory procedure should, as a general\nrule, apply in all cases other than as provided for in that\nRegulation. Considering the potentially important impact of\nassistance of more than
\nEUR 90 million, it is appropriate that the\nexamination procedure be used for operations above that\nthreshold as well as to any reduction, suspension or cancellation\nof the assistance.
\nReports: by 30 June of\neach year, the Commission shall submit to the European Parliament\nand to the Council a report on the implementation of this Decision\nin the preceding year, including an evaluation of that\nimplementation.
\nNot later than two years after the expiry of the\navailability period, the Commission shall submit to the European\nParliament and to the Council an ex post evaluation report,\nassessing the results and efficiency of the completed Union's\nmacro-financial assistance and the extent to which it has\ncontributed to the aims of the assistance.
\nBUDGETARY IMPLICATIONS: the planned assistance would\nbe provided in the form of a loan and should be financed through a\nborrowing operation that the Commission will conduct on behalf of\nthe EU. The budgetary costs of the assistance will correspond to\nthe provisioning, at a rate of 9%, of the amounts disbursed in the\nguarantee fund for external lending of the EU, from budget line 01\n03 06 (\"the provisioning of the Guarantee Fund\").
\nAssuming that the first and second loan disbursements\nwill be made in 2014 for a total amount of EUR 170 million and the\nthird loan disbursement in 2015 for the amount of EUR 80 million,\nand according to the rules governing the guarantee fund mechanism,\nthe provisioning will take place in the 2016-17 budgets.
\nThe Committee on International Trade adopted the\nreport by Vital MOREIRA (S&D, PT) the proposal for a decision\nof the European Parliament and of the Council providing\nmacro-financial assistance to the Republic of Tunisia.
\nThe committee recommended that Parliaments\nposition in first reading following the ordinary legislative\nprocedure should amend the Commission position as\nfollows:
\nAmount of macro-financial assistance: the amount of macro-financial assistance to be\ngranted to Tunisia has been increased from EUR 250 million to\nEUR 300 million, with a view to supporting Tunisia's\neconomic stabilisation and reforms.
\nIndividual rights and freedoms: in a recital, it has been stipulated that the\nConstitution being drawn up by the National Constituent Assembly of\nTunisia includes some advances in the field of individual rights\nand freedoms and gender equality, which set Tunisia on the path\ntowards democracy and the rule of law.
\nIt should be noted that the amendments contained in\nthe text reflect the considerations and principles contained in\nthat Joint Declaration; and/or harmonise the wording of this\nproposal with the recitals and articles contained in the latest MFA\ndecision (in particular Decision No 778/2013/EU of\nthe European Parliament and of the Council of 12 August 2013\nproviding further macro-financial assistance to\nGeorgia).
\nThe European Parliament adopted by 488 votes to 51\nwith 17 abstentions, a legislative resolution on the proposal\nfor a decision of the European Parliament and of the Council\nproviding macro-financial assistance to the Republic of\nTunisia.
\nParliament adopted its position at first reading under\nthe ordinary legislative procedure. The amendments adopted in\nplenary were the result of a compromise between Parliament and\nCouncil. They amend the Commissions proposal as\nfollows:
\nAmount of\nmacro-financial assistance: the amount of\nmacro-financial assistance to be granted to Tunisia has been\nincreased from EUR 250 million to EUR 300 million, with\na view to supporting Tunisia's economic stabilisation and\nreforms.
\nIndividual\nrights and freedoms: in a recital, it was\nstipulated that the Constitution being drawn up by the National\nConstituent Assembly of Tunisia included some advances in the field\nof individual rights and freedoms and gender equality, which set\nTunisia on the path towards democracy and the rule of\nlaw.
\nIt should be noted that the\namendments contained in the text reflect the considerations and\nprinciples contained in that Joint Declaration and/or harmonise the\nwording of the proposal with the recitals and articles contained in\nthe latest MFA decision (in particular Decision\nNo 778/2013/EU of the European\nParliament and of the Council providing further macro-financial\nassistance to Georgia).
\nPURPOSE: to provide macro-financial assistance to the\nRepublic of Tunisia for an amount of EUR 250 million.
\nLEGISLATIVE ACT: Directive No 534/2014/EU of the\nEuropean Parliament and of the Council providing macro-financial\nassistance to the Republic of Tunisia.
\nCONTENT: the Decision seeks to make macro-financial\nassistance available to Tunisia of a maximum amount of EUR 300\nmillion, with a view to:
\nThe full amount of the Union's macro-financial\nassistance shall be provided to Tunisia in the form of\nloans. The loans shall have a maximum maturity of 15\nyears.
\nThe Commission shall be empowered on behalf of the\nUnion to borrow the necessary funds on the capital markets or from\nfinancial institutions and to on-lend them to Tunisia.
\nThe Union's macro-financial assistance shall be made\navailable for a period of two and a half years, starting from the\nfirst day after the entry into force of the Memorandum of\nUnderstanding referred to in this Decision.
\nDemocratic clause: a\npre-condition for granting the Union's macro-financial assistance\nshall be that Tunisia respects effective democratic mechanisms,\nincluding a multi-party parliamentary system and the rule of law,\nand guarantees respect for human rights. The Commission shall\nmonitor the fulfilment of this pre-condition throughout the\nlife-cycle of the Union's macro-financial assistance.
\nImplementing conditions of the loan: the Commission, in accordance with the examination\nprocedure, shall agree with the Tunisian authorities on clearly\ndefined economic policy and financial conditions, focusing on\nstructural reforms and sound public finances, to which the Union's\nmacro-financial assistance is to be subject, to be laid down in a\nMemorandum of Understanding, which shall include a time-frame for\nthe fulfilment of those conditions. The economic policy and\nfinancial conditions set out in the Memorandum of Understanding\nshall be consistent with the agreements or understandings,\nincluding the macro-economic adjustment and structural reform\nprogrammes implemented by Tunisia, with the support of the\nIMF.
\nThe detailed financial terms of the Union's\nmacro-financial assistance shall be laid down in a Loan Agreement\nto be agreed between the Commission and the Tunisian authorities.\nThe Commission shall verify at regular intervals that the\nconditions continue to be met, including whether the economic\npolicies of Tunisia are in accordance with the objectives of the\nUnion's macro-financial assistance. In so doing, the Commission\nshall coordinate closely with the IMF and the World Bank and, where\nnecessary, with the European Parliament and the\nCouncil.
\nDisbursement of assistance: the Union's macro-financial assistance shall be made\navailable by the Commission in three loan instalments. The size of\neach instalment shall be laid down in the Memorandum of\nUnderstanding.
\nWhere the conditions as regards the release of the\ninstalments are not met, the Commission shall temporarily suspend\nor cancel the disbursement of the Union's macro-financial\nassistance and inform the European Parliament and the Council of\nthe reasons for that suspension or cancellation.
\nDecreased assistance:\nwhere the financing needs of Tunisia decrease fundamentally during\nthe period of the disbursement of the Union's macro-financial\nassistance compared to the initial projections, the Commission,\nacting in accordance with the examination procedure, shall reduce\nthe amount of the assistance or suspend or cancel it.
\nWhere the circumstances permit, and if Tunisia so\nrequests, the Commission may take the steps necessary to ensure\nthat an early repayment clause is included in the loan terms\nand conditions and that it is matched by a corresponding clause in\nthe terms and conditions of the borrowing operations.
\nImplementing conditions:\nin order to ensure uniform conditions of implementation and for\nreasons of efficiency, the Commission should be empowered to\nnegotiate such conditions with the Tunisian authorities under the\nsupervision of the committee of representatives of the Member\nStates in accordance with Regulation (EU) No 182/2011.\nUnder that Regulation, the advisory procedure should, as a general\nrule, apply in all cases other than as provided for in that\nRegulation. Considering the potentially important impact of\nassistance of more than EUR 90 million, it is appropriate that the\nexamination procedure be used for operations above that\nthreshold as well as to any reduction, suspension or cancellation\nof the assistance.
\nImplementation and procedural rules:
\nImplementation and rules of procedure: in accordance with the examination\nprocedure and the joint EP/Council declaration set out in\nthe Annex to the Decision granting additional macrofinancial assistance to\nGeorgia (used as an overall general framework to\ngrant Union macrofinancial assistance), the Commission shall agree\nwith the Tunisian authorities on clearly defined economic policy\nand financial conditions, focusing on structural reforms and sound\npublic finances, to which the Unions macro-financial\nassistance is to be subject.
\nReport: by 30 June of\neach year, the Commission shall submit to the European Parliament\nand to the Council a report on the implementation of this Decision\nin the preceding year.
\nNot later than two years after the expiry of the\navailability period, the Commission shall submit to the European\nParliament and to the Council an ex post evaluation report,\nassessing the results and efficiency of the completed Union's\nmacro-financial assistance and the extent to which it has\ncontributed to the aims of the assistance.
\nENTRY INTO FORCE: 24.05.2014.
\n