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Description
The agreement (entitled Tripartite Agreement) mentioned in Article 287 (3), third subparagraph, of the Treaty on the Functioning of the EU governs cooperation between the European Investment Bank, the European Commission and the European Court of Auditors with respect to the audits carried out by the Court on Bank’s activity in managing mandates conferred to it by the EU and the operations managed by the Bank and guaranteed by the general budget of the European Union.
In accordance with the legal framework governing the European Development Funds, the agreement applies also to the operations financed from these Funds and managed by the Bank.
The current Agreement was signed on 16th and 26th September 2016, date of entry into force of the new provisions for a period of four years (with the possibility of tacit extensions).
