Information;Judgment — ECLI:EU:T:2023:861
Date: 2023-12-20
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 20 December 2023 – EIB v Syria (Case T‑465/22) (1) ( Arbitration clause – Loan agreement concerning a project for the completion of a first-class road in a third country – Non-performance of the agreement – Repayment of the sums advanced – Default interest – Procedure by default ) 1. 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 19, 21) 2. 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 (Art. 272 TFEU) (see paragraphs 24, 25) Operative part The Court: 1. Orders the Syrian Arab Republic to repay the European Investment Bank (EIB) the sum of EUR 233 051.96 representing the principal amounts and the contractual and default interest due on 30 June 2022; 2. Declares that the sum of EUR 200 900.30 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.