No C 79/2 Official  Journal  of the  European  Communities 29. 3. 80 
Industrial  loans  at reduced  interest  rates  grantable  by the  Commission  of the  European 
Communities  pursuant  to the  first  paragraph  of Article  54 of the  Treaty  establishing  the 
European  Coal  and  Steel  Community 
Pursuant  to the  first  paragraph  of Article  54 of the 
Treaty  establishing  the  European  Coal  and  Steel 
Community,  the  Commission  may  grant  loans  to 
undertakings  within  the  meaning  of Article  80 for  the 
purpose  of financing  their  investments  which  fit  in 
with  the  general  objectives  referred  to in Article  46. 
The Commission  normally  grants  these  loans  at the 
rate which  it has  to pay  for  the  funds  concerned. 
On certain  loans  —  in  so  far  as  resources  are 
available  — the  Commission  reserves  the  right  to 
grant  reductions  of interest  rate  to stimulate  higher 
investment  in projects  which  concern  coal  production 
and which  are  particularly  important  for  the  stabi-
lization  of the  Community's  coal  production. 
In assessing  the  contribution  that  such  an investment 
makes  to the  attainment  of the  objective  of stabilizing 
coal  production,  the  Commission  must  consider 
all the  concomitant  circumstances  and  factors 
characterising  the  investment,  in  particular  the 
following  criteria: 
(a) the  importance  of the  investment: 
investments  needing  a minimum  realization  time 
of two  years; 
(b) the  localization  of the  investment: 
— in new  coalfields,  or — in highly  productive  existing  coalfields,  or 
— in existing  coalfields  whose  production  is 
necessary  to supply  specific  marketu; 
(c) the  nature  and  the  purpose  of the  investment: 
— the  construction  of new  collieries,  or 
— the  creation  of new  pits  linked  with  existing 
collieries,  or 
— the  construction  of new  production  capacities 
in existing  collieries  in order  to increase  or 
stabilize  coal  production. 
The only  eligible  expenditure  is that  in respect  of 
shafts,  underground  construction  and  haulage 
and winding  equipment.  These  investments  must 
contribute  to the  rationalization  of coal  produc-
tion by the  recipient. 
Neither  the  arrangements  for  loans  at special  interest 
rates  to finance  subsidized  housing  nor  those  for 
reduced  interest  rate  loans  set  out  in the  communi-
cation  of  18  June  1970  ('), as  amended  by  the 
communication  of 25 November  1974  (2),  and  in the 
communication  of 22  July  1977  (3),  are  affected  by 
this communication. 
(')OJ  No  C 73, IK. 6. 1970,  p. 20. 
o OJ  No C 146,  25. 11. 1974,  p. 1 
(')OJNoC  174,  22. 7. 1977,  p.1. 
Communication  from  the  Commission  under  Article  5 (5)  of  Council  Decision 
75/210/EEC  of 27 March  1975 
By virtue  of Article  4 (4)  of Council  Decision  75/210/EEC  of 27  March  1975  on 
unilateral  import  arrangements  in respect  of State-trading  countries  ('),  the  Commission 
has adopted  the  following  change  to the  import  arrangements  applied  in Italy  with 
regard  to Poland  with  effect  from  14 March  1980: 
— Exceptional  opening  of a quota  for  the  importation  of 49  000  cars  Pol  Mot  126 
(CCT  heading  No  87.02) 
(') OJ No L 99, 21. 4. 1975,  p. 7.