The link of the Union’s macro-financial assistance to an on-track disbursing IMF programme, with its strong macro-fiscal framework and rigorous debt sustainability analysis, provides reassurances in relation to Egypt’s repayment capacity. In addition, in order to ensure that the Union’s financial interests linked to the Union’s macro-financial assistance are protected efficiently, Egypt should take appropriate measures relating to the prevention of, and fight against, fraud, corruption and any other irregularities linked to that assistance. The transparent management of funds allocated under the Union’s macro-financial assistance is essential. In addition, a loan agreement to be concluded between the Commission and the Egyptian authorities should contain provisions authorising the European Anti-Fraud Office to carry out investigations, including on-the-spot checks and inspections, in accordance with the provisions and procedures laid down in Regulation (EU, Euratom) No 883/2013 of the European Parliament and of the Council and Council Regulation (Euratom, EC) No 2185/96, the Commission and the Court of Auditors to carry out audits and the European Public Prosecutor’s Office to exercise its competences with regard to the provision of the Union’s macro-financial assistance during and after the availability period of that assistance.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
