# Council Decision (EU) 2015/354 of 2 March 2015 adopting the Rules of Procedure of the Investment Facility Committee set up under the auspices of the European Investment Bank, Article 4

Extent: E+W+S+N.I.

1. The Committee shall, under the conditions laid down in Article 3 of these Rules of Procedure and in Article 16 of the Council Regulation (EU) 2015/322 (‘the Implementation Regulation’):
(a) with regard to the Investment Facility, approve:
(i) the operational guidelines and proposals for their revision;
(ii) the investment strategies and business plans, including performance indicators, in accordance with point (b) of Article 16(2) of the Implementation Regulation;
(iii) the annual reports, including the financial statements;
(iv) any general policy document, including evaluation reports;
(b) deliver an opinion on:
(i) all Investment Facility financing proposals;
(ii) all financing proposals from the Bank's own resources under the ACP-EU Partnership Agreement and the Overseas Association Decision including those related to projects for which the Commission has rendered a negative opinion;
(iii) the use of an interest rate subsidy, in case of projects including an interest rate subsidy;
(iv) proposals related to the development of the Bank's result measurement framework to the extent that such framework is applicable to operations under the ACP-EU Partnership Agreement;
(v) any other proposal based on the general principles defined in the operational guidelines.
In order to streamline the approval process for small operations, the Committee may give its favourable opinion to proposals from the Bank for a global allocation (interest rate subsidies, technical assistance) or global authorisation (lending, equity) in accordance with Article 16(3) of the Implementation Regulation.
In addition, the governing bodies of the Bank may, from time to time, request that the Committee provides an opinion on other strategy or policy issues concerning the operations of the Bank in the ACP countries.
2. The working documents and proposals for the Committee shall be prepared and submitted by the Bank to the Committee and to the observers. Proposals shall provide details on:
(a) the description of the project and its relevance to the country development strategy as presented in the country strategy papers;
(b) the development objective which the project is intended to achieve, including the sustainability of the measures planned;
(c) the general organisation of, and the justification for, the project;
(d) the project's costs, method of financing and risks involved, as well as, when relevant, the risk mitigation measures the Bank intends to apply;
(e) the project's local, national and regional impact, based on the provisions of the ACP-EU Partnership Agreement, including on the environment;
(f) the agreement or opinion of the Commission, as specified in Article 16(5) of the Implementation Regulation.
3. The detailed rules governing the technical execution of the project and the timetable for carrying it out shall be summarised in an Annex to the proposal.

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Source: https://www.legislation.gov.uk/eudn/2015/354/annex/article/4 (the official version)
Page: https://openlegislation.uk/eu-decision-2015-354/annex/article-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.