Proposal for a Council Decision amending Decision 2000/24/EC so as to extend the Community guarantee granted to the European Investment Bank to cover loans for projects in Croatia
Date: 2000-06-06
Institutions: European Commission
Subjects: Croatia, EIB loan, credit guarantee, economic cooperation

31.10.2000

EN

Official Journal of the European Communities

C 311 E/329

Proposal for a Council Decision amending Decision 2000/24/EC so as to extend the Community
guarantee granted to the European Investment Bank to cover loans for projects in Croatia

(2000/C 311 E/24)

COM(2000) 289 final (cid:151) 2000/0122(CNS)

(Submitted by the Commission on 6 June 2000)

THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty establishing the European
Community, and in particular Article 308 thereof,

Having regard to the proposal from the Commission,

Having regard to the opinion of the European Parliament,

Whereas:

(1) On 6 March 1995, the General Affairs Council adopted
negotiation directives for the conclusion of an economic
and trade agreement including a financial protocol with
Croatia. The financial protocol consisted of a special EUR
230 million European Investment Bank (EIB) loan facility
for Croatia covering a five-year period. On 4 August
1995,
the Council announced the
suspension of
the negotiations with Croatia on the
economic and trade agreement due to the start of
military operations in Krajina.

the presidency of

(2) Recent developments, following the results of the parlia-
mentary and the presidential elections in early 2000, have
fundamentally changed the political scenario in Croatia.
The new Croatian government
is fully committed to
reform
a
implementing
programme in line with the conditions of the European
Union Stabilisation and Association process
the
countries of South-Eastern Europe.

economic

political

and

for

(3) The General Affairs Council of 24 January 2000 adopted a
specific statement on Croatia and re-iterated its readiness
to help Croatia meeting the challenges
in
developing a closer relationship with the European Union.

faces

it

(4) On 14 February 2000 the General Affairs Council invited
the Commission to prepare a report on the feasibility of
opening negotiations for a Stabilisation and Association
Agreement with Croatia. The Commission intends to
adopt such a feasibility report by June 2000.

reform programme

(5) It is crucial to demonstrate the European Union’s support
to Croatia at this moment in implementing a political and
economic
the
elections of early 2000 in line with the European Union
Stabilisation and Association process, by supporting
Croatia’s
and
activities
private sector development.

in infrastructure

investment

elaborated

after

(6) It is therefore appropriate to provide a guarantee mandate
to the EIB to allow it to sign loan operations in Croatia.
The EIB has indicated its ability and willingness to extend
loans from its own resources in Croatia,
in accordance
with its Statute.

(7) On 31 October 1994 Council adopted Regulation (EC,
Euratom) No 2728/94 establishing a Guarantee Fund for
external actions (1), amended by Regulation (EC, Euratom)
No 1149/1999 (2).

(8) Council Decision 2000/24/EC (3) grants

the EIB a
Community guarantee against
for
loans
projects outside the Community (Central and Eastern
Europe, Mediterranean countries, Latin America and
Asia and the Republic of South Africa).

losses under

(9) That global guarantee covering the general EIB external
lending mandate laid down in Decision 2000/24/EC
should be extended to Croatia. The loan ceilings should
be increased in order to allow for the extension of corre-
sponding loan facilities to Croatia. Decision 2000/24/EC
should therefore be amended accordingly.

(10) The Treaty does not provide, for the adoption of this
Decision, powers other than those under Article 308,

HAS DECIDED AS FOLLOWS:

Article 1

Article 1 of Decision 2000/24/EC is hereby amended as
follows:

1. The second sentence of

the second subparagraph of

paragraph 1 shall be amended as follows:

(a) in the introductory part,

(cid:145)EUR 18 410 million(cid:146) shall be

replaced by (cid:145)EUR 18 660 million(cid:146);

(b) in the first indent (cid:145)EUR 8 680 million(cid:146) shall be replaced

by (cid:145)EUR 8 930 million(cid:146).

2. In the first indent of paragraph 2, (cid:145)Croatia(cid:146) shall be inserted

after (cid:145)Bulgaria(cid:146).

Article 2

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

(1) OJ L 293, 12.11.1994, p. 1.
(2) OJ L 139, 2.6.1999, p. 1.
(3) OJ L 9, 13.1.2000, p. 24.