The Erasmus+ Master Loan Guarantee Facility
Information note to the Financial Intermediaries

Ref: The Erasmus+ Master Loan Guarantee Facility–Open Call for Expression of Interest to select Financial Intermediaries published on 13th February 2015

The term “Non-Cooperating Jurisdiction” in the above referenced Call for Expression of Interest shall be read and understood as follows:

“Financial Intermediaries shall comply with relevant standards and applicable legislation on the prevention of money laundering, the fight against terrorism and tax fraud to which they may be subject.

Furthermore, in the case of cross-border Financial Instruments where the relevant support is not reserved for operations, projects or activities implemented in the same jurisdiction where the concerned Financial Intermediary is incorporated, Financial Intermediaries (and sub-intermediaries) shall not be incorporated in territories whose jurisdictions do not co-operate with the Union in relation to the application of the internationally agreed tax standard (of the Organisation for Economic Cooperation and Development (OECD) and its Global Forum on Transparency and Exchange for Tax Purposes).

Each applying Financial Intermediary may inquire about the status of a particular jurisdiction with EIF.”

The other terms and conditions of the Open call for Expression of Interest shall remain unchanged.