What are the requirements for requesting an ECCL?
Access to an Enhanced Conditions Credit Line (ECCL) is open to ESM Members that do not comply with some of the eligibility criteria required for accessing a Precautionary Conditioned Credit Line (PCCL) but whose general economic and financial situation remains sound. The requesting country has to sign a Memorandum of Understanding (MoU) detailing policy conditionality, aimed at addressing the remaining weaknesses, and requiring a continuous respect of the eligibility criteria which were considered met when the credit line was granted. Compliance with conditionality will be assessed on the basis of quarterly compliance reports submitted to the ESM Board of Directors. The ESM Member has the right to request funds at any time during the availability period according to the agreed terms.