Recognising the urgent and extraordinary need to further strengthen the Union’s sovereignty and security as provided for in Regulation (EU) 2024/795, and in order to ensure the rapid mobilisation and reinvestment of financial resources in critical sectors, including dual-use and defence projects under the EIC Accelerator under Horizon Europe, it is appropriate to derogate from Article 212(3) of Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council (the Financial Regulation). Given those circumstances and the need for a rapid availability of funds, it is particularly necessary to allow for repayments, including reimbursed advances, revenues and unused amounts net of the fees and costs of the EIC blended finance investment component of the EIC Pilot under Horizon 2020 to be reinvested in the EIC Fund rather than directed to the Union budget, in order to finance projects with civil applications, as well as projects in dual-use and defence that benefit from the amended scope. The timeframe set out in Article 212(3) of the Financial Regulation should be amended to ensure meaningful implementation under exceptional circumstances To allow for that possibility, it is necessary to introduce a derogation from that provision.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
