2023-11-16 21:15:54
Belgium will now be able to make a financial contribution to the multilateral development banks and the European Investment Bank.
The Chamber approved this Thursday a bill from the Ministers of Finance and Cooperation, Vincent Van Peteghem and Caroline Gennez, which allows Belgium to provide a financial contribution to multilateral development banks and the European Investment Bank (EIB) in the form of a state guarantee. This is an additional financing option that does not directly impact the budget.
Belgium can contribute to the financial resources of the multilateral development banks and the EIB by providing capital, in the form of donations to funds or ad hoc contributions to certain initiatives, for example, aid to Ukraine. All of these forms of contribution have in common that they require the actual payment of amounts, which complicates the task of governments faced with current budgetary constraints.
The law will create an additional possibility, as exists in certain other countries, allowing Belgium to make a contribution in the form of a state guarantee. The ability to provide state guarantees under this provision is limited to a maximum of €100 million per year and €500 million cumulatively.
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