Regulation (EU) 2025/2005

In force

This text since 24 Dec 2025law://eu/reg/2025/2005/art_1__pnt_2__pnt_c@2026-11-13

Contents

(c)points (10) and (11) are replaced by the following:

(10)“financing and investment operations” or “financing or investment operations” means operations to provide finance directly or indirectly to final recipients through financial products carried out by:

(a)in the context of the EU guarantee, an implementing partner in its own name, provided by the implementing partner in accordance with its internal rules, policies and procedures and accounted for in the implementing partner’s financial statements or, where applicable, disclosed in the notes to those financial statements;

(b)in the context of the InvestEU financial instrument, an implementing partner in its own name or in its own name but on behalf of the Commission, as applicable;

(11)“funds under shared management” means funds that provide for the possibility of allocating a portion of those funds to the provisioning for a budgetary guarantee or to a financial instrument under the Member State compartment of the InvestEU Fund, namely the European Regional Development Fund (ERDF) and the Cohesion Fund established by Regulation (EU) 2021/1058 of the European Parliament and of the Council^note, the European Social Fund Plus (ESF+) established by Regulation (EU) 2021/1057 of the European Parliament and of the Council^note (the “ESF+ Regulation for 2021-2027”), the European Maritime, Fisheries and Aquaculture Fund (EMFAF) established by Regulation (EU) 2021/1139 of the European Parliament and of the Council^note and the European Agriculture Fund for Rural Development (EAFRD) established by Regulation (EU) 2021/2115 of the European Parliament and of the Council^note (the “CAP Strategic Plans Regulation”);

Source: EUR-Lex, © European Union, 1998-2026. Reuse authorised under Decision 2011/833/EU.

Key facts

Type: Regulation · (EU) 2025/2005
Adopted: 16 Dec 2025
In force: 24 Dec 2025
Made by: Council of the European Union, European Parliament
Official: EUR-Lex 32025R2005 · ELI

Topics

disclosure of information EU aid EU financial instrument EU programme exchange of information financing investment project investment promotion investment protection Economic policy Investments

History · 1 version

24 Dec 2025Reading

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Amends 1: Regulation (EU) 2021/5232 provisions

Defined terms · 9

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blending operation
means, under the EU compartment, an operation supported by the Union budget that combines non-repayable forms of support, repayable forms of support, or both, from the Union budget with repayable forms of support from development or other public finance institutions, or from commercial finance institutions and investors;
compartment
means a part of the support provided under the InvestEU Fund defined in terms of the origin of the resources backing it;
contribution agreement
means a legal instrument whereby the Commission and one or more Member States specify the conditions for the implementation of the contribution under the Member State compartment, as laid down in Articles 10 and 10a;’
financing or investment operations
means operations to provide finance directly or indirectly to final recipients through financial products carried out by:
funds under shared management
means funds that provide for the possibility of allocating a portion of those funds to the provisioning for a budgetary guarantee or to a financial instrument under the Member State compartment of the InvestEU Fund, namely the European Regional Development Fund (ERDF) and the Cohesion Fund established by Regulation (EU) 2021/1058 of the European Parliament and of the Council, the European Social Fund Plus (ESF+) established by Regulation (EU) 2021/1057 of the European Parliament and of the Council (the “ESF+ Regulation for 2021-2027”), the European Maritime, Fisheries and Aquaculture Fund (EMFAF) established by Regulation (EU) 2021/1139 of the European Parliament and of the Council and the European Agriculture Fund for Rural Development (EAFRD) established by Regulation (EU) 2021/2115 of the European Parliament and of the Council (the “CAP Strategic Plans Regulation”);
guarantee agreement
means a legal instrument whereby the Commission and an implementing partner specify the conditions for proposing financing and investment operations in order for them to be granted the benefit of the EU guarantee or of the InvestEU financial instrument, for providing the EU guarantee or support through the InvestEU financial instrument for those operations and for implementing them in accordance with this Regulation;’
InvestEU financial instrument
means a financial instrument as defined in Article 2, point (30), of Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council that is to be implemented under the Member State compartment of the InvestEU Fund.
policy window
means a targeted area for support by the EU guarantee or the InvestEU financial instrument as laid down in Article 8(1);
SME
means (a) an enterprise which, according to its last annual or consolidated accounts, employs an average number of employees during the financial year of less than 250 and has an annual turnover not exceeding EUR 50 million;