COMMISSION OF THE EUROPEAN COMMUNITIES 
C0M(93) 564 final 
Brussels, 15 November 1993 
REPORT FROM THE COMMISSION TO THE COUNCIL AND THE EUROPEAN PARLIAMENT 
on the rate of utilization of the 
New Community Instrument (NCI) 
(half-year from 1.1.1993 to 30.6.1993) 
THE COMMISSION'S REPORT TO THE COUNCIL 
AND TO PARLIAMENT 
on the rate of utilization of the 
New Community Instrument (NCI) 
(half-year from 1.1.1993 to 30.6.1993) 
1. Introduction 
Council Decisions 83/200/EEC (Article 6) and 87/182/EEC (Article 8) on the financing of the NCI 
require the Commission to draw up a six-monthly report on the rate of utilization of the tranches of 
NCI III and IV. 
The present report covers the period from 1.1.1993 to 30.6.1993. 
2. Overall situation at 30.6.1993 
The different legal bases determine the method of assessing the amount of loans signed in relation to 
the maximum authorized borrowing: 
(i) for NCI III, the volume of loans is lower than that of borrowings in order to take account of the 
currencies borrowed and the associated costs and expenses; 
(ii) for NCI IV, the ceiling applies to the loans signed. 
At the end of the half year the situation regarding the use of the tranches for which a six-monthly 
report has to be drawn up was as follows: 
Use of NCI: situation at 30/6/1993 
Amounts used 
2,867 
683 (ECU million) 
Balance 
133 (•) 
57 
(*) The special borrowing of ECU 100 million for European innovation 
projects has not yet been authorized by the Council. 
The borrowing operations carried out in the six months under review for financing NCI activities are 
shown in Annex 2(B). 
3. Breakdown of loans by country and sector 
The table below provides an overall view of loans signed, converted into "borrowing equivalents", at 
30.6.1993, The loans in the various currencies have been converted into ecus at the exchange rate in 
force on the last working day of the quarter preceding the signing of the contract. 
Distribution of loans signed by country at 30.6.1993 
Country 
Belgium 
Denmark 
Greece 
Spain 
France 
Ireland 
Italy 
Netherlands 
Portugal 
UK 
Total 
SECTOR 
NCI III 
NCI IV NCI 
66.8 
70.0 
239.0 
479.9 
134.9 
990.5 NCI M 
100.6 
114.9 
125.0 
116.6 
473.4 
67.1 
997.5 
Productive sector 
528% 
100.0% NCI HI 
303.0 
111.2 
69.2 
938.7 
68.4 
1,228.5 
3.2 
29.9 
109.3 
2,861.6 NCI IV 
Infrastructure 
26.5% 23.6 
63.2 
132.0 
72.3 
285.7 
9.9 
96.1 
682.8 (ECU million) 
NCI 
Reconstr. 
80.0 
598.7 
678.7 
Energy 
20.7% Total 
23.6 
533.5 
306.1 
201.2 
1,206.0 
424.0 
3,066.3 
3.2 
39 8 
407.3 
6,211.1 0.4 
8.6 
4.9 
32 
19.4 
6.8 
49.4 
0.1 
0.6 
6.6 
100.0 
NCI IV is of interest because of its special features, such as the options of converting loans into risk 
capital, using loans to finance the purchase of intangible assets and deferring interest payments. 
However, as resource depletion now allows only limited operations, which are difficult to finance on 
the international market under the strained conditions already described, no loan transaction has been 
carried out during this half year period 
Annex 1 
Ref Project description NCI IV IJOANS 
CHIING: ECU 750 MIUJON (1) • (Situation at 30.6.1993) 
1. LOANS SIGNED 
64/87 nil (Small Business) PG-WA 
64/87 FIH (Small Business) PG-VI/B 
68/87 BNL - PMI V/A 
68/87 BNL - PMI V/B 
69/87 IMI - PMI V/A 
69/87 IMI - PMI V/B 
70/87 MEDIOCR CENTR - PMI IV/A 
70/87 MEDIOCR. CENTR - PMI I V/B 
70/87 MEDIOCR. CENTR - PMI IV/C 
70/87 MEDIOCR CENTR - PMI IV/D 
70/87 MEDIOCR. CENTR. - PMI IV/E 
71/87 INTERBANCA - PMI IV/A 
71/87 INTERBANCA-PMI I V/B 
73/87 BPI - PO V 
105/87 CENT ROBANCA - PMI I V/A 
105/87 CENTROBANCA - PMI I V/B 
106/87 SAN PAOLO Agroindustria II 
107/87 CREDIOP - PMI I/A 
107/87 CREDIOP - PMI I/B 
108/87 BANCO DI NAPOLI - PMI A 
108/87 BANCO DI NAPOLI - PMI B 
110/87 B°DESANTANDER-PYME 
121/87 B° DE BILBAO - PYME 
148/87 EFIBANCA - PMI I V/A 
148/87 EFIBANCA - PMI IV/B 
148/87 EFIBANCA - PMI IV/C 
148/87 EFIBANCA - PMI IV/D 
206/87 B" DE V1ZCAYA - P YME A 
206/87 B° DE VIZCAYA - PYME B 
207/87 B" ES5ANOL DE CREDIT O - PYME A 
207/87 B° ESPANOL DE CRED1TO - PYME B 
231/87 CREDIT NATIONAL-PMI III 
64/88 INVEST ORS IN INDUSTRY-
GROUPED LOAN V 
101/88 EFIBANCA - PMI V/A 
101/88 EFIBANCA - PMI V/B 
101/88 EFIBANCA - PMI V/C 
101/88 EFIBANCA- PMI V/D 
103/88 MEDIOCR LOMBARDO - PMI A 
103/88 MEDIOCR LOMBARDO - PMI B 
103/88 MEDIOCR LOMBARDO - PMI C 
103/88 MEDIOCR LOMBARDO - PMI D 
109/88 BARCLAYS BANK II GL 
128/88 CENTROBANCA - PMI V/A 
128/88 CENTROBANCA - PMI V/B 
135/88 CREDIOP - PMI II/A 
135/88 CREDIOP - PMI II/B 
185/88 BANCO DI SCILIA - PMI II/A 
185/88 BANCO DI SQLIA - PMI II/B 
199/88 CREDIT INDUSTRIEL ET COMML. 
237/88 IMI - PMI VI/A 
237/88 IMI - PMI VI/B 
237/88 IMI - PMI WC 
237/88 IMI - PMI Vl/D 
175/89 BARCLAYS BANK Ill/A 
119/90 KREDIETBANK N.V -GL 
119/90 KREDIETBANK N.V -GL 
48/91 B" ESPANOL DE CREDIT O PGP Y 
TOTAL 1 Date of 
contract ECU 
hiiIlion(2) 
II. LOANS APPROVED. 
AWAITING SIGNATURE 
BALANCE 
CEILING 15.09,87 
2405.88 
12 10.87 
12.10.87 
31.07.87 
31.07.8"» 
15.09,87 
10 1287 
03.0288 
16.03.88 
23.06.88 
07.10.87 
07.10.87 
22,07 87 
11.12.87 
11.12.87 
05.11.87 
18 1287 
18 12.87 
18 12.87 
18.1287 
24.07.87 
2307.87 
17 1287 
17 1287 
24 06.88 
24.06.88 
17,1287 
30 11.88 
18.1287 
18.11.88 
050288 
28.12.88 
05.10.88 
05 1088 
16 01.89 
16.01.89 
10.10.88 
10.1088 
06 02.89 
06.02,89 
21.1288 
19 12.88 
19.12.88 
09.12.88 
09.12.88 
25 05.89 
25.05.89 
29 11.88 
19.12.88 
19 1288 
06.0289 
0602.89 
30.11.89 
20.12.90 
20 12.90 
2805.91 31,80 
31.43 
18,68 
8,01 
37.29 
15.98 
6,19 
5,88 
4,81 
3,27 
18.98 
9,34 
4,00 
9,91 
9,34 
4,00 
13,34 
4,67 
2,00 
4.60 
1,97 
20,19 
31,64 
4,67 
2,00 
4.55 
1.95 
9.37 
8,60 
12,04 
10.94 
20,00 
30,54 
4,53 
1.94 
4.57 
1.96 
6,79 
2.91 
9.14 
3,92 
45.81 
13.23 
5,67 
4,53 
1.94 
4,58 
1,96 
52,32 
9,06 
3,88 
13,72 
5,88 
29,38 
18,04 
5.54 
39,I9_ 
692.45 
28.00 
29,55 
750.00 Breakdown by country (2) 
18,04 
5.54 
23.58 DK 
31.80 
31.43 
63.22 20,19 
31.64 
9.37 
8.60 
12.04 
10.94 
39,19 
131,97 20,00 
52,32 
72,32 UK 
18,68 
8,01 
37.29 
15,98 
6.19 
5,88 
4,81 
3,27 
18,98 
9.34 
4,00 
9.34 
4.00 
13.34 
4,67 
2.00 
4,60 
1.97 
4,67 
2.00 
4.55 
1.95 
4,53 
1.94 
4.57 
1.96 
6,79 
2.91 
9.14 
3.92 
13.23 
5.67 
4.53 
1.94 
4.58 
1.96 
9,06 
3,88 
13,72 
5,88 
285,73 9,91 
30,54 
45,81 
9,91 29,38 
105.72 
(1) JOL". 271 of 14.03.1987 (bans ceiling) 
(2) Conversion rates are those obtained on the last working day of the quarter preceding the signing of each loan. 
NCI BORROWING, BY CURRENCY âOQejL2 
A.-Debt outstanding at 30.6.1993 (1) 
Currency (million) Equivalent 
in MECU (2) 
ECU 615.0 615.0 
BFR 1,125.0 27.9 
DM 604.3 308.3 
FF 2,100.0 317.6 
HFL 866.6 394.2 
LFR 2,720.0 67.5 
UT 100,000.0 56.1 
PTA 25,000.0 166.9 
UKL 113.7 147.7 
CAD 
SFR 392.0 225.8 
USD 529.0 456.4 
YEN 990.0 8.1 
Total I I 2,791.5 
B.-New operations: 1.1.1993 - 30.6.1993 | 
Date 
of issue Duration Coupon m Currency 
(million) Equivalent in MECU (3) 
Fresh 
capital (1) Re-
flnanclngs 
(1) Excluding refinancing operations, designed to reduced the cost of servicing existing debt 
initially contracted at higher interest rates. 
(2) Exchange rates as at 30.6.1993 
(3) Exchange rates at signature. 
ISSN 0254-1475 
COM (93) 564 final 
DOCUMENTS 
EN 01 
Catalogue number : CB-CO-93-602-EN-C 
ISBN 92-77-61161-8 
Office for Official Publications of the European Communities 
L-2985 Luxembourg