98/348/EC: Council Decision of 19 May 1998 granting a Community guarantee to the European Investment Bank against losses under loans for projects in the former Yugoslav Republic of Macedonia and amending Decision 97/256/EC granting a Community guarantee to the European Investment Bank against losses under loans for projects outside the Community (Central and Eastern European countries, Mediterranean countries, Latin American and Asian countries and South Africa)
Date: 1998-05-19
Institutions: Council of the European Union
Subjects: EIB loan, European Investment Bank, North Macedonia, cooperation agreement, credit guarantee, third country

29. 5. 98

EN

Official Journal of the European Communities

L 155/53

COUNCIL DECISION

of 19 May 1998

granting a Community guarantee to the European Investment Bank against
losses under loans for projects in the former Yugoslav Republic of Macedonia
and amending Decision 97/256/EC granting a Community guarantee to the Euro-
pean Investment Bank against losses under loans for projects outside the
Community (Central and Eastern European countries, Mediterranean countries,
Latin American and Asian countries and South Africa)

(98/348/EC)

THE COUNCIL OF THE EUROPEAN UNION,

HAS DECIDED AS FOLLOWS:

Having regard to the Treaty establishing the European
Community, and in particular Article 235 thereof,

Having regard to the proposal of the Commission (1),

Having regard to the opinion of the European Parlia-
ment (2),

Whereas by its Decisions of 27 November 1997 the
Council concluded a Cooperation Agreement between the
European Community and the former Yugoslav Republic
of Macedonia and a Transport Agreement between the
same parties;

Whereas the said Cooperation Agreement
includes a
Protocol on financial cooperation which provides for the
European Investment Bank (EIB) to grant loans from its
own resources up to a ceiling of ECU 150 million until
31 December 2000;

Whereas Decision 97/256/EC (3) grants the EIB a budget
guarantee for lending from its own resources in specified
regions outside the Community; whereas the budget guar-
antee should be extended to cover the Bank loans agreed
in the Protocol on financial cooperation with the former
Yugoslav Republic of Macedonia;

Whereas the Council is calling on the Bank to finance
projects in that country according to the arrangements set
out in the Protocol on financial cooperation by offering it
the guarantee provided for in this Decision;

Whereas Decision 97/256/EC should therefore be
amended;

Article 1

Decision 97/256/EC is hereby amended as follows:

1. in the title, ‘. . . Asian countries and South Africa.' shall
be replaced by ‘. . . Asian countries, South Africa and
the former Yugoslav Republic of Macedonia.';

2. in the first paragraph of Article 1(1),

‘. . . Asian coun-
tries, in the Republic of South Africa.' shall be replaced
by ‘. . . Asian countries, in the Republic of South Africa
and in the former Yugoslav Republic of Macedonia.';

3. in the second paragraph of Article 1(1):

(a)

‘ECU 7 105 million,' shall be replaced by ‘ECU
7 255 million,';

(b) the following fifth indent shall be added:

‘(cid:190) former Yugoslav Republic of Macedonia ECU

150 million,';

(c)

‘. . .
in the final phrase of the second sentence,
Asian countries, and on 1 July 1997 for
the
Republic of South Africa.' shall be replaced by ‘. . .
Asian countries, on 1 July 1997 for the Republic of
South Africa, and on 1 January 1998 for the former
Yugoslav Republic of Macedonia.';

4. the following sixth indent shall be added to Article 1

(2):

‘(cid:190) former Yugoslav Republic of Macedonia.'

Whereas the Treaty does not provide for the adoption of
this Decision powers other than those of Article 235,

Article 2

(1) OJ C 108, 7. 4. 1998, p. 1.
(2) OJ C 152, 18. 5. 1998.
(3) OJ L 102, 19. 4. 1997, p. 33.

Corresponding amendments shall be made to the agree-
ment concluded between the Commission and the EIB
referred to in Article 5 of Decision 97/256/EC.

L 155/54

EN

Official Journal of the European Communities

29. 5. 98

This Decision shall take effect on the day of its publication in the Official Journal of the
European Communities.

Article 3

Done at Brussels, 19 May 1998.

For the Council

The President

G. BROWN