ARCHIVESHISTORIQUES
DELACOMMISSION
COLLECTION RELIEEDES
DOCUMENTS "COM"
COM(80)427
Vol.1980/0151

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COMMISSION
OFTHE
EUROPEAN COMMUNITIES
GeneralSecretariatCOM(80)427final
Brussels,22ndJuly1980
FOROFFICIAL USEONLY
REQUESTFORASSENT,PURSUANTTOARTICLE562.a)OFTHE
ECSCTREATY,TOGRANTING AGLOBALLOANTO
FINANCEFORINDUSTRY .LIMITED(F.F.I.),UNITEDKINGDOM
(Communication fromtheCommission totheCouncil/
rrrrAn
C0ft(80>427final

COMMISSION
OFTHE
EUROPEAN COMMUNITIESBrussels
/
INTERNAL DOCUMENT
Communication totheCouncil
Subject:Requestforassent,pursuanttoArticle562.a)oftheECSCTreaty,
tograntingagloballoantoFinanceforIndustryLimited,(F.F.I.),
UnitedKingdom •
IaTHEINTERMEDIARY FINANCIAL AGENCY
Applicant :FinanceforIndustry(F.F.I.)
RegisteredOffice :London
ParentCompanyofapplicant :FinanceforIndustryisownedbytheBankof
EnglandandthemainLondonandScottish
clearingbanks.
II.BENEFICIARIES :Throughitssubsidiary ICFC,with18area
officesthroughout theUK,F.F.I,willpass
onthegloballoantosmallandmedium-sized
firmsforthecreationofnewactivities .
Fieldofactivityofthe :Industrial andserviceactivities
beneficiaries
III.THEPROJECT
Procédure :
TheCommissionwillmakefc20m.(about33.33MEUA)availabletoF.F.I.Theloan
will,withinthreeyears,bedisbursedtoF.F.I,inseveraltranchesin^confor-
mitywithsub-loansapprovedforeligibleprojects.Theintermediary agency
willsubmiteachindividualprojecttotheCommissionforapproval.
Thedecisionrelatingtoindividual sub-loanswillbetakeninaccordancewith
thecriteriaandobjectivespublished bytheCommission (O.J.n°C178/2of
27July1977,O.J.n°C82/8of29March1979).
tF.F.I,willreporttotheCommission everysixmonthsontheusetowhichthe
globalloanhasbeenput;itwillalsoreportannuallyonthere-employment of
ex-ECSCworkersinfirmsfinancedthroughthegloballoan.
Globalamountofinvestment :Atleastt40,000,000 (about66.6MEUA).
rrovisionataddress:RuedeloLoi200,B–1040Brussels–Téléphoné350040-358040–Télégraphieaddress:«COMEURBrussels »–
Telex:«COMEURBRU 218771

-2-
IV.THEREGION
I'Projectlocation
Unemployment rateThegloballoanwillaplyinallarenasinthe
UKwhichareaffectedbytherun-downincoal
andsteel !
Rangingfrom6/•to14%
'Nationalaidstatusof*
"projectareaAssistedareasandsteelconversion dreas
TheECSCindustryhasbeenadominantemployerinthearea.
V.CONFORMITY WITHART.56OFTHEECSCTREATY
ECSCreduncancies in
projectarea
Jobcreationofproject
TrainingFromApril1977to1979BritishSteelCorporation
hasreduceditslabourforcebysome22,000.On
11thDecember1979theCorporation announcedthat
itwasproposingfurtherredundancies ofabout
52,000inthenearfuture.Inadditionimportant
joblossesha\/ebeenannouncedbyprivatesteel
companies.
:Atleast1,700jobssuitableforformerECSCwor­
kers.
[ThroughManpowerServicesCommissionand
loanbeneficiaries .
TheCommissionconsidersthattherequestcomplieswithArt.562a)of
theECSCTreaty. :
VI,GLOBALLOAN–
i
■Loanrequested :t20m
I' :
Loangranted •:TheCommission Hasapprovedaloanof
t20mCabout33.33wEUA)or
equivalenttotheabovementionedcompany a
inaccordancewithArt.56operatingpolicies
CO.J.No.C82/8of29March1979),

Interestrebate :3Xpointsperyearforfiveyearson33.32MEUA
Jobbasisofinterestrebate:1/666
VII.COUNCILASSENT
TheCommissioninvitestheCounciltogiveitsassenttotheforegoing
,decision.