ARCHIVESHISTORIQUES
DELACOMMISSION
COLLECTION RELIEEDES
DOCUMENTS "COM"
COM(79)129
Vol.1979/0065

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COADMISSION OFTHEEUROPEAN COMMUNITIES
COM(79)129final
Brussels.9March1979*
PROPOSALFORADECISION
applyingCouncilDecisionIQ/870/SECof16October1978
empoweringtheCommissiontocontractloansforthepur­
poseofpromotinginvestmentwithintheCommunity.
(presentedbytheCommissiontotheCouncil)
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CGU7S)129final

PROPOSAL FORADECISION
aPPlyingCouncilDecision78/87O/EECof16October1978empoweringthe
Commissiontocontractloansforthepurposeofpromotinginvestmentwithin
theCommunity.
THECOUNCILOPTHEEUROPEANCOMMUNITIES ,
HavingregardtotheTreatyestablishing theEuropeanEconomicCommunity,
HavingregardtoCouncilDecision78/87O/EECof16October1978empowering
theCommissiontocontractloansforthepurposeofpromotinginvestment
withintheCommunity,andinparticularArticle2thereof(*),
HavingregardtotheproposalfromtheCommission,
HavingregardtotheopinionoftheEuropeanParliament,
WhereastheCommunityactionaimsatrealizingstructuralinvestmentprojects
inlinewithpriorityCommunityobjectivesintheenergy,industryandin­
frastructure sectors;
WhereastheCommunityhassetitselftheobjectivesofstimulating therecovery
ofeconomicactivityandsupporting commonpoliciesthroughCommunityactions
aimingattherealizationofinvestmentprojectsthatcontributetogreater
convergence andintegrationoftheeconomicpoliciesoftheMemberStates;
WhereastheseobjectiveswerereaffirmedbytheEuropeanCouncilinits
resolutionof5Decemberontheintroduction oftheEuropeanmonetarysystem
andrelatedmatters; *
Whereasinvestmentsintheinfrastructure andenergysectorsareofpara­
mountimportancefortheeconomiesoftheMemberStates;
WhereastheCommunityhasnotsetitselftheenergypolicyobjectivesofre­
ducingitsdependenceonimportedenergyandincreasingthesecurityofsupplies;
WhereastheseobjectiveshavebeenreaffirmedseveraltimesbytheCouncil,
and^ainrecentlybytheEuropeanCouncilatitsmeetingof6and7July1978;
*)O.J.N°L298of25.lO.i978,p.9

Whereas thenumber andsize oftheinvestment projects totorealized in
theinfrastructure andenergy sectors represent asubstantial borrowing
requirement ;
Whereas borrowings ofanamount equivalent to500million EUAinprincipal
seem appropriate inpresent circumstances foraninitial series ofloans to
finance investment projects intheabove-mentiomed priority sectors ,
HAS DECIDED ASFOLLOWS :
Article 1
Afirst tranche ofborrowings shall beauthorized foranamount notexcee­
ding theequivalent of500million European units ofacoount inprincipal .
Article 2
Theproduct ofthese borrowings shall beused forloans tofinance investment
projects tobecarried outonCommunity territoxy which are consistent with
priority Community objectives intheinfrastructure andenergy seotors .
Theinfrastructure investments shall involve mainly transports ,telecommuni­
cations ,agricultural improvements ,hydraulic constructions andenvironmental
protection .
Theenergy investments Bhall contribute togreater independence andtosecurity
anddiversification oftheCommunity 'senergy supply ;they shall contribute
tothedevelopment ,exploitation ,use ,transport andBtocking ofenergy
resources and toenergy-saving *
Article 3
TheCommission shall decide whether ornotprojects areeligible inaccor­
dance with thefollowing guidelines s
-theinvestment shall beconsistent with theCommunity andnational rules
applicable inthe relevant sector ;
-the investment shall make aneffective contribution toincreasing gross
.fixed asset formation intheMember State ooncerned ;
-theinvestment Bhall contribute tosolving theCommunity 'smain structu­
ralproblems ,andinparticular toreducing regional imbalance inthe
Community andtoimproving theemployment situation ^
Done atBrussels ,