COMMON POSITION (EC) No 15/94 adopted by the Council on 4 March 1994 with a view to adopting a Council Regulation 94/. . ./EC of . . . on financial and technical cooperation with the Occupied Territories and amending Regulation (EEC) No 1763/92 concerning financial cooperation in respect of all Mediterranean non-member countries (94/C 137/10)

THE COUNCIL OF THE EUROPEAN UNION

Having regard to the Treaty establishing the European Community, and in particular Article 130w thereof,

Having regard to the proposal from the Commission.

Acting in accordance with the prodecure referred to in Article 189c of the Treaty,

Whereas Regulation (EC) No . . ./94 (1) established a programme of financial and technical cooperation with the territories of the West Bank of the Jordan and the Gaza Strip, hereinafter referred to as 'the Occupied Territories';

Whereas, with a view to promoting the economic and social development of the Occupied Territories on a sustainable basis and in view of the considerable requirements likely to be generated by recent developments in the Middle East peace process, this programme should be supplemented by additional measures, namely those provided for in Council Regulation (EEC) No 1763/92 of 29 June 1992 concerning financial cooperation in respect of all Mediterranean non-member countries (2);

Whereas the application of Regulation (EEC) No 1763/92 should be extended to cover the Occupied Territories,

HAS ADOPTED THIS REGULATION:

Article 1

The following sentence is added to Article 1 (2) of Regulation (EEC) No 1763/92:

'It shall also apply to the territories of the West Bank of the Jordan and the Gaza Strip, referred to as the "Occupied Territories".'

Article 2

This Regulation shall enter into force on the third day following that of its publication in the Official Journal of the European Communities.

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at . . ., . . .

For the Council

The President

(1) See page 85 of this Official Journal.

(2) OJ No L 181, 1. 7. 1992, p. 5.

STATEMENT OF THE COUNCIL'S REASONS

I. Introduction

1. On 10 January 1994 the Commission submitted to the Council a proposal for a Regulation on financial and technical cooperation with the Occupied Territories and amending Council Regulation (EEC) No 1763/92 concerning financial cooperation in respect of all Mediterranean non-member countries (1).

That proposal is linked to the proposal for a Regulation on financial and technical cooperation with the Occupied Territories (interinstitutional file No (94) 002 (SYN)).

2. The European Parliament delivered its opinion on 11 February 1994 (2).

II. Common position

1. Adoption of the common position

On 4 March 1994 the Council unanimously adopted a common position on the basis of Article 130w of the Treaty establishing the European Community.

2. Purpose of the Commission proposal

The arrangements for 'horizontal' financial cooperation to implement the new Mediterranean policy made provision for appropriate operations in the Occupied Territories. This proposal for a Regulation amending Regulation (EEC) No 1763/92 on financial cooperation is intended to extend its application to the Occupied Territories. The Regulation provides for a five-year programme (1992 to 1996) with financing from the Community budget, including the interest subsidy for EIB loans to be granted for environmental projects and risk capital resources in favour of European operators.

3. Comments

The Council has made no amendments to the Commission proposal.

The European Parliament made no amendments in its opinion.

(1) OJ No C 24, 28. 1. 1994.

(2) See PE 179.623, pp. 24 et seq.