Brussels, 08/11/2002 (Agence Europe) - On Thursday day EP President, Pat Cox, President of the Council, Thor Pedersen and Commissioner Michaele Schreyer signed the inter-institutional agreement on the methods for mobilising the new Solidarity Funds for natural disasters. The Council will adopt the regulation (legal basis) at the beginning of next week on the allocation criteria and conditions for releasing loans and next week the Commission is expected to adopt a supplementary draft budget (probably EUR 1 billion) for aid for this year to the regions affected by the floods this summer. The Council approved without debate the inter-institutional agreement on Tuesday and the Parliament did likewise by adopting the report by Joan Colom I Naval (PES, Spain) on Thursday.
The agreement will include: - EUR 1 billion each year; - up to 1 October of every year, 25% of the annual amount available; - non-budgeted for amounts cannot be cancelled but funds can be advanced when resources in a specific exercise are not sufficient (needs could therefore be covered by the following budget exercises); - when conditions are ready for mobilising Funds, the Commission must propose what flexibility instrument is going to be used in the mobilisation; - "simplified" trialogue between the two branches of the budgetary authority which, once agreement is reached, a commitment is made to adopt at the earliest convenience (preferably in its first reading)) and Supplementary and Amending budget (SAB).