A4-0212/97

Proposal for a Council Decision providing exceptional financial assistance to Armenia, Georgia and, if appropriate, Tajikistan (COM(97)0024 - C4-0099/97 - 97/0028(CNS))

The proposal was approved with the following amendments:

(Amendment 1)

Title

>Original text>

Proposal for a Council Decision providing exceptional financial assistance to Armenia, Georgia and, if appropriate, Tajikistan

>Text following EP vote>

Proposal for a Council Decision providing exceptional financial assistance to Armenia and Georgia

(Amendment 3)

Recital 2

>Original text>

Whereas Armenia and Georgia are undertaking fundamental political and economic reforms and are making substantial efforts to implement a market economy model; whereas Tajikistan is expected to implement similar stabilization and structural change policies;

>Text following EP vote>

Whereas Armenia and Georgia are undertaking fundamental political and economic reforms and are making substantial efforts to implement a market economy model;

(Amendment 4)

Recital 8

>Original text>

Whereas Tajikistan implemented in 1995 and early 1996 important budgetary and monetary stabilization measures and whereas a first credit tranche arrangement with this country was approved by the IMF Board in May 1996; whereas, subject to a peaceful settlement of internal conflicts, further policy discussions of the IMF and the World Bank with the Tajik authorities, and complementary financing assurances from the international donor community, the IMF management is expected to recommend the conclusion with Tajikistan of a multi-year programme of adjustment and reform to be supported by an upper credit tranche stand-by and concessional facilities pursuant to an ESAF arrangement;

>Text following EP vote>

Deleted

(Amendment 5)

Recital 9

>Original text>

Whereas Armenia, Georgia and Tajikistan are low income countries and are facing particular critical economic and social circumstances; and whereas these countries are eligible for highly concessional loans from the World Bank and the IMF;

>Text following EP vote>

Whereas Armenia and Georgia are low income countries and are facing particular critical economic and social circumstances; and whereas these countries are eligible for highly concessional loans from the World Bank and the IMF;

(Amendment 6)

Recital 11

>Original text>

Whereas this assistance is exceptional and only justified on account of the particularly harsh economic and social conditions presently faced by the beneficiary countries;

>Text following EP vote>

Whereas this assistance is exceptional and only justified on account of the particularly harsh economic and social conditions presently faced by the beneficiary countries; whereas the combination of the loan and grant components may therefore under no circumstances create a precedent for any other financial assistance to be agreed in future in favour of non-member countries;

(Amendment 2)

Recital 13a (new)

>Original text>

>Text following EP vote>

Whereas on 6 March 1995 the European Parliament, the Council and the Commission adopted a joint declaration on the incorporation of financial provisions into legislative acts,1

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1 OJ C 102, 4.4.1996, p. 4.

(Amendment 7)

Article 1(2)

>Original text>

2. Tajikistan will be made eligible to this assistance on the condition that: (i) the Tajik authorities have formally undertaken to fully service their outstanding financial obligations towards the Community; and (ii) the Board of the IMF has agreed on an upper-credit tranche agreement with Tajikistan.

>Text following EP vote>

Deleted

Legislative resolution embodying Parliament's opinion on the proposal for a Council Decision providing exceptional financial assistance to Armenia, Georgia and, if appropriate, Tajikistan (COM(97)0024 - C4-0099/97 - 97/0028(CNS))

(Consultation procedure)

The European Parliament,

- having regard to the Commission proposal to the Council, COM(97)0024 - 97/0028(CNS) ((OJ C 95, 24.3.1997, p. 64.)),

- having been consulted by the Council pursuant to Article 235 of the EC Treaty (C4-0099/97),

- having regard to Rule 58 of its Rules of Procedure,

- having regard to the report of the Committee on External Economic Relations and the opinions of the Committee on Foreign Affairs, Security and Defence Policy and the Committee on Budgets (A4-0212/97),

1. Approves the Commission proposal, subject to Parliament's amendments;

2. Calls on the Council to notify Parliament should it intend to depart from the text approved by Parliament;

3. Asks to be consulted again should the Council intend to make substantial modifications to the Commission proposal;

4. Instructs its President to forward this opinion to the Council and Commission.