AGREEMENT in the form of Exchanges of Letters between the European Community and the European Bank for Reconstruction and Development on the contribution of the Community to the Nuclear Safety account

Letter No 1

A. Letter by Contributor to the President of the Bank

Dear Sir,

I am writing to acknowledge your communication regarding the establishment by the European Bank for Reconstruction and Development ('the Bank`) of the Nuclear Safety Account ('the Account`) to be governed by the Rules which had previously been adopted by consensus among the representatives of the G7 governments.

1. I am pleased to confirm that the European Community wishes to make a contribution to the Account in accordance with the Rules in the aggregate amount of ECU 20 million on the basis of domestic laws and regulations and in accordance with annual budgetary appropriations.

2. To the extent it is available by legislative action the contribution will be paid in cash or in non-interest bearing promissory notes in ecus in one instalment during the 1993 calendar year.

3. I confirm that the terms used herein have the meaning attributed to them in the Rules.

Sincerely yours

Letter No 2

B. Reply by the President of the Bank

Dear Sir,

Thank you for your letter of concerning the contribution of the European Community to the Nuclear Safety Account in the aggregate amount of ECU 20 million.

This is to confirm that the Bank will be pleased to accept this contribution for inclusion in the Account pursuant to the Rules governing the Account.

Sincerely yours

Letter No 3

C. Side letter to be sent jointly with the letter confirming the contribution

Dear Sir,

As a complement to my letter confirming the European Community's commitment to make a contribution of ECU 20 million in 1993 to the Nuclear Safety Account, in accordance with Article II, Section 2.02 of the Rules, the Commission, on behalf of the European Community, asks the Bank, in its capacity as administrator and operator of the Account, to confirm its agreement to the following provisions which will form an integral part of the Contribution Agreement:

1. The Commission and the Bank shall closely coordinate on nuclear safety assistance projects and related policy orientations, ensuring the cohesion and the complementarity of the activities generated by the Nuclear Safety Account in relation to the Community's Phare and Tacis nuclear safety assistance programmes. To this end, beyond the information received through normal channels of operation of the Account, particularly in the context of meetings of the Assembly of Donors or of the Operating Committee, the Commission and the Bank will arrange for a regular exchange of views and experience on nuclear safety assistance projects of mutual interest as well as for any other useful means of coordination.

2. As regards the financial operations of the Nuclear Safety Account to the extent that it is related to the Community's contribution, the Commission may forward all relevant information to the European Court of Auditors. Moreover, the Bank will supply all supplementary information that the Commission or the Court of Auditors may wish to receive.

In particular, the reports of the external auditors of the Bank on the Nuclear Safety Account, to be established in accordance with Article IV, Section 4.04 of the Rules, shall be made available to the Commission and, through it, to the European Court of Auditors. In case they consider it appropriate, the Commission and the European Court of Auditors, according to their respective competences, will be entitled to verify the financial operations of the Nuclear Safety Account to the extent that it is related to the Community's contribution.

3. As concerns the procurement arrangements pursuant to the Rules, the Commission understands that the Bank accepts the understanding whereby, upon conclusion of this Contribution Agreement, no discrimination will be made between individual Member States of the European Community, irrespective of their having concluded individual Contribution Agreements with the Bank or not, as far as the awarding of procurement contracts for services or supplies are concerned in the course of operations of the Nuclear Safety Account.

Sincerely yours

Letter No 4

D. Side letter of reply by the President of the Bank

Dear Sir,

As a complement to my letter accepting the contribution of the European Community to the Nuclear Safety Account, I am pleased to confirm the agreement of the Bank to the provisions contained in the side letter to your letter of . . .

Sincerely yours