1. Provisioning for the loans shall be constituted at the rate of 9 % from the envelope allocated to the Neighbourhood geographic programme under Article 6(2), point (a), of Regulation (EU) 2021/947 and shall be used as part of provisions supporting similar risks.
2. By way of derogation from Article 214(2), last sentence, of the Financial Regulation, the provisioning shall be progressively constituted, and shall be fully constituted at the latest when the loans are fully disbursed.
3. The provisioning rate shall be reviewed at least every three years from the date of entry into force of this Regulation in line with the procedure foreseen under Article 31(5), fourth subparagraph, of the Regulation (EU) 2021/947.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
