Information from the Commission - Reconversion loans granted at reduced rates, under Article 56 of the ECSC Treaty, for investments which create alternative employment opportunities in areas affected by a decline in the activities of the coal and steel industries
Date: 1980-01-22
Institutions: European Commission
Subjects: declining industrial region, financial institution, industrial investment, interest, job creation, redevelopment aid













EUR-Lex - 31980Y0122(04) - EN






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31980Y0122(04)

Information from the Commission - Reconversion loans granted at reduced rates, under Article 56 of the ECSC Treaty, for investments which create alternative employment opportunities in areas affected by a decline in the activities of the coal and steel industries  


Official Journal C 016 , 22/01/1980 P. 0008 - 0009 





Reconversion loans granted at reduced rates, under Article 56 of the ECSC Treaty, for investments which create alternative employment opportunities in areas affected by a decline in the activities of the coal and steel industries The detailed rules for granting reconversion loans were published in Official Journal of the European Communities No C 178 of 27 July 1977, page 2 and they were supplemented or amended in Official Journal of the European Communities No C 82 of 29 March 1979, pages 8/9.  A list of financial institutions to which global loans had been granted was published in the abovementioned Official Journal of 1979. Since then several new global loans were granted.    A. The current list of financial institutions to which global loans have been granted is as follows:  FRANCE  Sofirem 31-33 rue de la Baume Paris 8e Tel. 225 95 00  Banque populaire de Lorraine 3 rue François de Curel boîte postale 124 F-57021 Metz Tel. (87) 69 24 12  Banque populaire de la Loire 1 place de l'Hôtel de Ville F-42007 Saint-Etienne Cedex Tel. (77) 33 39 61  Lordex 109 boulevard d'Haussonville F-54041 Nancy Cedex Tel. (28) 27 05 22  Banque populaire du Nord 66 boulevard de la Liberté F-59000 Lille Tel. (20) 5 282 40  Société de développement régional du Nord et du Pas-de-Calais 108 rue de Jemmapes F-59000 Lille Tel. (20) 55 62 80  UNITED KINGDOM  Finance for Industry 91 Waterloo Road London SE1 8XP Tel. (01) 928 7822  GRAND DUCHY OF LUXEMBOURG  Société nationale de crédit et d'investissement 3, rue de la Congrégation Luxembourg Tel. 478-315  FEDERAL REPUBLIC OF GERMANY  Saarländische Investitionskreditbank Johannesstraße 2 Postfach 883 6600 Saarbrücken Tel. (06 81) 3 60 61  IRELAND  Industrial Credit Company 32-34 Harcourt Street Dublin 2 Tel. (01) 720055   B. The rules for granting global loans and for applying for subsidiary loans under them are briefly summarized from the aforementioned publications in the Official Journal of the European Communities as follows:  Global loans may be granted to any financial institution capable of financing, under sound economic conditions, investments which are eligible according to Article 56 (1) (b) and 2 (a) of the ECSC Treaty.  The application for a global loan shall follow the same procedure as that required for a direct loan.  Small and medium-sized firms and craft industries may apply to one of the above-listed financial institutions for a reconversion loan up to a ceiling of 2 million European units of account (EUA). The cost of the investment projects, which is the subject of an application for a subsidiary loan may not exceed 10 million EUA. The subsidiary loan may not exceed 50 % of investment. The maximum subsidiary loan eligible for rebate shall be 20 000 EUA per job created.   C. Steel and coal workers and employees who have been or are to be made redundant and who wish to be self-employed can apply to the above-listed financial institutions for a reconversion loan within the same limits as existing small and medium-sized firms and craft industries.   D. Information  More detailed information on reconversion loans may be obtained from the national departments responsible, from the intermediaries abovementioned and from the following departments of the Commission of the European Communities:  D.J. Dekker DG XVI, division B3 Rue de la Loi 200 B-1049 Brussels Tel. 735 80 40, ext. 3420.  O. Hahn DG XVIII, Division B2 Bâtiment Jean Monnet Luxembourg Tel. 43 01-3226.