Subject matter, scope and governing principle
1. This Decision establishes a single and unified methodology to allocate costs incurred as a result of borrowing and debt management operations conducted under programmes of financial assistance within the scope of Article 220a of Regulation (EU, Euratom) 2018/1046 and non-repayable support under Article 5(1) of Decision (EU, Euratom) 2020/2053 (‘CAM programmes’).
2. The implementation of the cost allocation methodology shall be guided by the principles of fairness and equal treatment, ensuring that costs are spread based on the relative share of support received.
Definitions
For the purposes of this Decision, the following definitions apply:
(1)
‘beneficiary’ means a Member State or a third country that is a party to a loan agreement under a CAM programme, or the general budget of the Union for non-repayable support under Article 5(1) of Decision (EU, Euratom) 2020/2053;
(2)
‘disbursement’ means the transfer of proceeds obtained through borrowing and debt management operations to finance repayable or non-repayable support to a beneficiary;
(3)
‘funding instruments’ means bonds, notes, commercial paper, EU-bills or any other appropriate short and/or long-term financial transactions under the diversified funding strategy;
(4)
‘interest period’ means a period of twelve (12) months, or such other period which may be specified in the confirmation notice, commencing on the date of disbursement or the previous interest payment date;
(5)
‘liquidity management’ means management of cash flows related to funding instruments and disbursements;
(6)
‘loan agreement’ means an agreement on loan support between the European Union represented by the Commission and a beneficiary under a CAM programme;
(7)
‘borrowing operations’ means operations referred to in Article 2(1) of Implementing Decision (EU, Euratom) 2023/2825;
(8)
‘debt management operations’ means operations referred to in Article 2(2) of Implementing Decision (EU, Euratom) 2023/2825;
(9)
‘liquidity management operations’ means operations referred to in Article 2(3) of Implementing Decision (EU, Euratom) 2023/2825;
(10)
‘short-term funding’ means funding referred to in Article 2(16) of Implementing Decision (EU, Euratom) 2023/2825;
(11)
‘long-term funding’ means funding referred to in Article 2(10) of the Implementing Decision (EU, Euratom) 2023/2825;
(12)
‘single-beneficiary programme’ means a CAM programme whose basic act allows the disbursement of loans or grants to one beneficiary;
(13)
‘multi-beneficiary programme’ means a CAM programme whose basic act allows the disbursement of loans or grants to more than one beneficiary;
(14)
‘NGEU programme’ or ‘NGEU’ means any programme financed under Article 2(2) of Regulation (EU) 2020/2094, in so far as it implements measures referred to in Article 1(2) of that Regulation;
(15)
‘Recovery and Resilience Facility loans’ (‘RRF loans’) mean loan support under Article 14 of Regulation (EU) 2021/241 of the European Parliament and of the Council ( 10 ) ;
(16)
‘Ukraine Facility’ means the facility established by Regulation (EU) 2024/792 to provide support for Ukraine for the period 2024 to 2027.
(17)
‘MFA+’ means the instrument established by Regulation (EU) 2022/2463 for providing support to Ukraine for 2023.
Types of costs
The following categories of costs shall be established:
(a)
cost of funding;
(b)
cost of liquidity management;
(c)
cost of service for administrative overheads.
