ARCHIVESHISTORIQUES
DELACOMMISSION
COLLECTION RELIEE DES
DOCUMENTS "COM"
COM (79)551
Vol.1979/0190

Disclaimer
Conformément aurèglement (CEE, Euratom) n°354/83 duConseil du1erfévrier 1983
concernant l'ouverture aupublic desarchives historiques delaCommunauté économique
européenne etdelaCommunauté européenne del'énergie atomique (JOL43du15.2.1983,
p.1),telquemodifié par lerèglement (CE, Euratom) n°1700/2003 du22septembre 2003
(JOL243du27.9.2003, p.1),cedossier estouvert aupublic. Lecaséchéant, lesdocuments
classifiés présents dans cedossier ontétédéclassifiés conformément àl'article 5dudit
règlement.
Inaccordance with Council Regulation (EEC, Euratom) No354/83 of1February 1983
concerning theopening tothepublic ofthehistorical archives oftheEuropean Economic
Community andtheEuropean Atomic Energy Community (OJL43,15.2.1983, p.1),as
amended byRegulation (EC, Euratom) No1700/2003 of22September 2003 (OJL243,
27.9.2003, p.1),this fileisopen tothepublic. Where necessary, classified documents inthis
filehave been declassified inconformity with Article 5oftheaforementioned regulation.
InÜbereinstimmung mitderVerordnung (EWG, Euratom) Nr.354/83 desRates vom 1.
Februar 1983 über die Freigabe der historischen Archive der Europäischen
Wirtschaftsgemeinschaft undderEuropäischen Atomgemeinschaft (ABI. L43vom 15.2.1983,
S.1),geändert durch dieVerordnung (EG, Euratom) Nr.1700/2003 vom 22.September 2003
(ABI. L243vom 27.9.2003, S.1),istdiese Datei derÖffentlichkeit zugänglich. Soweit
erforderlich, wurden dieVerschlusssachen indieser Datei inÜbereinstimmung mitArtikel 5
dergenannten Verordnung freigegeben.

COMMISSION OFTHEEUROPEAN COMMUNITIES
GENERAL BUDGET COM (79)551 final .
FINANCIAL YEAR 1979 . Brussels ,15October 1979 .
SECTION III -COMMISSION
TRANSFER OFAPPROPRIATIONS N°27/79
(compulsory expenditure )
C0M(79 )551 final .

GENERALBUDGET
FINANCIAL YEAR1979
SECTIONIII-COMMISSION
t
I.
TRANSFEROFAPPROPRIATIONS No27/79
(compulsoryexpenditure )
FromChanter100
ToCnapter57
Article570
Article571Provisional appropriations
Measurestoreduceeconomicdisparities
intheCommunityinthecontextofthe
EuropeanMonetaryEastern
InterestratesubsidiesforCommunity
loanstothelessprosperous Member .
Statesparticipating inthe
EuropeanMonetarySty-stem
Financialcompensation forthe
UnitedKingdom245.373-000EUA
200000000EUA
45373000EUA
TheFinancialControllerendorsedthisproposal,therebyvouchingforthe
availability oftheappropriations ,on2October1979»

JUSTIFICATION
Atitsmeetingon45December1978|theEuropeanCouncildecidedto
takestepsundertheEuropeanMonetarySystemtoStrengthentheeconomies
ofthelessprosperous .MemberStatesparticipating therein.Itisessential
forinfrastructure investmentprojectsandprogrammestohecarriedoutin
thelessprosperous MemberStatesinordertoexpeditetheprocessofeconomic
development onwhichcloserconvergence andintegrationoftheeconomic
policiesofalltheMemberStatffihinges.Loanshavealreadybeengranted
bytheEIBandunderCouncilDecision78/870/EECof16October1978
empoweringtheCommissiontocontractloansforthepurposeofpromoting ..
investmentwithintheCommunityprimarilytofinancestructuralinvestment
projectswhichfulfilpriorityCommunityobjectives,particularly inthe
energyandinfrastructure sectors.TheEuropeanCouncil,however,decided
tomakeiteasierforlessprosperous MemberStatestoobtainCommunity
loansbygrantinginterestsubsidiesonthemfinancedbytheGeneralBudget
oftheEuropeanCommunities.TheCouncilconsequently adopted
Regulation EECNo1736/79on3August,actingonaproposalfromthe
Commission,afterreceivingafavourableopinionfromtheEuropeanCouncil.
UnderthetermsofRegulationEECNo1736/79andCouncilDecision79/691/EEG
implementing theRegulation : ~~
1.Subsidizedloanswillbegrantedtolessprosperous MemberStatesinthe
Communityparticipating intheEMS;
(a)theamountoftheloanstobesubsidizedmaynotexceed5000millionEUA
foraperiodoffiveyears,inannualinstalmentsof1000millionEUA~
(b)theinterestsubsidyratewillbe3%peryear;
(o)thetotalamounttobeenteredintheBudgettocoverthediscounted
valueofthesesubsidieswillbe1000millionEUA,dividedinannual
instalmentsof200millionEUA;
(d)thebeneficiarycountrieswillbeIrelandandItaly.
2.Financialcompensation willbegrantedtoMemberStateswhichdonot
effectively andfullyparticipateinthe-EMSmeohanisms.

Financialcompensation will"bepaid"totheUnitedKingdom,whichisnot
participating intheEuropeanMonetary£\ystem,"bytheCommissionona
quarterlybasisasandwhentheappropriations forinterestsubsidiesare
used.
OnceRegulation EECKb1736/79andCouncilDecision79/691/EEChad"been
adopted,theCommissionforwardedtotheEIBon17Septemberalistof
investmentprojectsandprogrammeswhichitconsideredeligibleforinterest
subsidies;thiswasdoneundertheprocedureslaiddownbythecooperation
agreementsconcludedbetweentheCommissionandtheBankon27November1978
relatingtotheCouncilDecisionof1$October1973settingupthenew
Communityinstrumentandon17S:.ptemb3rwithregardtointerestsubsidies
forsomeoftheloansgrantedundertheSaropeanMonetarySystem.Itis
henceurgentthat2millionEUA.betransferredtoArticle570whichcarries
atokenentryforinterestsubsidiesattd45373000EUAbetransferred to
Article571whichalsocarriesatokenentryforfinancialcompensation from
Chapter100(provisionalappropriations )underwhichtheyareatpresent
entered.

-4-
STATEMENT OPAPPROPRIATIONS INCHAPTER 100
AT1OCTOBER 1979
TOTAL
APPROPRIATIONS
FOR
COMMITMENTSTOTAL
APPROPRIATIONS
FOR
PAYMENTS
1.Total allocation 439-206 000 351774200
-2.Appropriations already
transferred 94791000 42971 .200
3.Appropriations nowm
course oftransfer 2000 000 1000 000
4.Appropriations still
entered inChapter 100 342 .415000 307 .803000