Information;Judgment — ECLI:EU:T:2023:661
Date: 2023-10-18
Language of the case: English
Subject matter: European Investment Bank (EIB);External relations;Economic, financial and technical cooperation with third countries
Procedure: Arbitration clause - successful

Judgment of the General Court (Ninth Chamber) of 18 October 2023 – EIB v Syria (Case T‑467/22) (1) (Arbitration clause – Loan agreement concerning a project for the rehabilitation of saline soils and the prevention of further salinisation of agricultural lands in a third country – Non-performance of the agreement – Repayment of the sums advanced – Default interest – Procedure by default) 1. Judicial proceedings – Action before the General Court – Application of the default procedure – Obligation of the Court to rule on the applicant’s pleas – Conditions – Failure of the defendant to respond within the prescribed time limit (Rules of Procedure of the General Court, Art. 123(1)) (see paragraphs 13-16, 21, 27, 32, 33) 2. Judicial proceedings – General Court seised under an arbitration clause – Loan agreement concluded between the European Investment Bank and Syria – Jurisdiction of the General Court defined by Articles 256 and 272 TFEU and the arbitration clause (Arts 256(1) and 272 TFEU) (see paragraphs 17, 19, 20) 3. Judicial proceedings – General Court seised under an arbitration clause – Loan agreement concluded between the European Investment Bank and Syria – Breach by Syria of its contractual obligations – Action brought by the Bank on behalf of the European Union – Admissibility – Commission instructing the European Investment Bank to initiate recovery procedures on behalf the European Union (Arts 256(1) and 272 TFEU) (see paragraphs 23-26) Operative part The Court: 1. Orders the Syrian Arab Republic to repay the European Union, represented by the European Investment Bank (EIB), the sum of EUR 1 959 745.31 representing the principal amounts and the contractual and default interest due on 30 June 2022; 2. Declares that the sum of EUR 1 680 510.04 comprising the principal amounts is to bear default interest at the annual rate of 3.5% from 30 June 2022 until the date that payment is made; 3. Orders the Syrian Arab Republic to pay the costs. 1 OJ C 359, 19.9.2022.