The Commission will manage the Common Provisioning Fund and delegate the management of the revenues of the Innovation Fund to the EIB

The Commission will manage the Common Provisioning Fund

The CPF will hold the provisions that anchor the operation of financial instruments, financial assistance and budgetary guarantees under the next MFF. Given its central importance for the EU budget, the Commission will use its proven capacity to manage itself the assets of the CPF. The Communication explains this decision and presents the findings of an independent assessment. The Decision on Asset Management Guidelines frames the prudent investment strategy that will be implemented.

The Commission delegates the management of the revenues of Innovation Fund to the EIB

The Innovation Fund has been created to support low-carbon projects and climate transition, financed by the auction of allowances under the Emissions Trading Scheme Directive. These are expected to amount to EUR 10BN over the next 7 years.