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DOCUMENTS "COM"
COM(81)412
Vol.1981/0128

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COMMISSION
OFTHE
EUROPEAN COMMUNITIES
GeneralSecretariatCOM(81)412 final
Brussels,22ndJuly1981
FOROFFICIAL USEONLY
REQUESTFORASSENT,PURSUANT TOART.562a)OFTHEECSC
TREATYTOGRANTING AGLOBALLOANTO"CO-OPERATIVE BANK
LIMITED",U.K.
(Communication fromtheCommission totheCouncil)
C0M(81)412final

Communication tothe Council
Subject :Request forassent ,pursuant toArt .562a)oftheECSC Treaty
togranting aglobal loan toCo-operative Bank Limited .,UK.
THE INTERMEDIARY FINANCIAL AGENCY No.330
Applicant Co-operative Bank Limited
Registered office Manchester
Parent company of
appl icant }Co-operative Wholesale Society Limited ,
Manchester .
BENEFICIARIES Co-operative Bank Limited will ,through its
branch network ,pass ontheglobal loan to
small andmedium-sized firms for the extension
ofexisting activities and/orthecreation of
new activities
Field ofactivity ofthe
beneficiariesIndustrial and service activities
st :P..edelaLo -2008-1040 Brussels -Telephone 3500*10-35 8040-Telegraphic address :•COME'JR Bv.ssr
. .rnMFi ipnRi i .

-2-
III .THE PROJECT
BBsssassasa
Procédure
TheCommission will make £1M(about 1.86MioECU)available tothe
Co-operative Bank .Theloan will bedisbursed ,within aperiod ofthree
years inthenumber oftranches appropriate tothesub-loans approved .
Thesubsidiary loans will beapproved bytheCommissions Services in
accordance with thecriteria andobjectives published bytheCommission
(Official Journal No.C178/2of27July 1977 andOfficial Journal
No.C82/8of29March 1979 ).
TheCo-operative Bank will report totheCommission every sixmonths
ontheusetowhich theglobal loan hasbeen put.Itwill also report
annually onthere–employment ofex–ECSC workers bythebeneficiaries
ofthe loan .
Global amount ofthe investment :Atleast £2M (+3.71 MioECU )
IV.THE REGION
Project location Theglobal loan will apply inallareas in
theUKwhich areaffected bytherun-down
incoal and steel .
Unemployment rate Ranging' from 6%to23% .
(Corby 21.5$ ,Consett 23.8$ asat12Feb .1981 ),
National aid status of
project area :Assisted areas and coal and steel conversion
areas .
TheECSC industry hasbeen animportant source ofemployment inthearea .

-3-
v-£2Nf2RMITY_W^H_ART._56_OF_THE_ECSC_TREATY
ECSC redundancies in
project area
Jobcreation ofproject
Training:Prom April 1977 to1979 ,British Steel
Corporation hasreduced itslabour force
bysome 22000.InDecember 1979 ,"the
Corporation announced further redundancies
ofabout 52000forthenear future .The
Corporation 'slatest plan forsurvival
involves atleast 20000redundancies on
topofthe52000jobs already announced
andnearly completely lost bynow .In
addition major joblosses arereported to
have taken place atprivate steel companies ,
:Atleast 93jobs suitable forformer ECSC
workers .
:Through Manpower Services Commission and
loan beneficiaries .
TheCommission considers that therequest complies with Art .562a)
oftheECSC Treaty .
VI.GLOBAL LOAN
Loan requested
Loan granted
Interest rebate
Job basis ofinterest rebate£1M
TheCommission hasapproved aLoan
of£1M (+_ 1.86 MioECU )
orequivalent totheabove mentioned
company inaccordance with Art .56
operating policies (O.J. No.C82/8
of29March ,1979 ):
3%points per year forfive years on
1.86 MioECU
93 jobs suitable forand tobeoffered
inpriority toex-ECSC workers .
VII .COUNCIL ASSENT
TheCommission invites theCouncil togive itsassent totheforegoing
decision .