Regulation (EC) No 772/2001 of the European Parliament and of the Council of 4 April 2001 regarding the closure and liquidation of projects adopted by the Commission under Council Regulation (EC) No 213/96 on the implementation of the European Communities investment partners financial instrument for the countries of Latin America, Asia, the Mediterranean region and South Africa (Text with EEA relevance)
Date: 2001-04-04
Institutions: Council of the European Union, European Parliament
Subjects: Asia, EU financial instrument, Latin America, Mediterranean region (EU), South Africa, small and medium-sized enterprises

21.4.2001

EN

Official Journal of the European Communities

L 112/1

I

(Acts whose publication is obligatory)

REGULATION (EC) No 772/2001 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL

of 4 April 2001

regarding the closure and liquidation of projects adopted by the Commission under Council
Regulation (EC) No 213/96 on the implementation of the European Communities investment
partners financial instrument for the countries of Latin America, Asia, the Mediterranean region
and South Africa

(Text with EEA relevance)

THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE
EUROPEAN UNION,

(5)

The Commission should be empowered to take the steps
necessary to allow the existing project portfolio to be
liquidated,

Having regard to the Treaty establishing the European
Community, and in particular Article 179(1) thereof,

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

HAVE ADOPTED THIS REGULATION:

Acting in accordance with the procedure laid down in Article
251 of the Treaty (2),

Article 1

Whereas:

(1)

(2)

(3)

(4)

Council Regulation (EC) No 213/96 of 29 January 1996
on the implementation of the European Communities
investment partners financial instrument for the coun-
tries of Latin America, Asia, the Mediterranean region
and South Africa (3) expired on 31 December 1999.

Using Regulation (EC) No 213/96 as a basis,
the
Commission has approved the financing of a number of
projects which have not yet been fully completed and
which may require further sums to be committed so that
they can be closed.

The many investment
instruments managed by the
Commission (AL-Invest, ASIA-Invest, MED-Invest, JOP,
JEV and Proinvest) lack a centralised, coordinated and
coherent organisational structure.

This transitional measure should serve not only to
ensure compliance with the commitments entered into
by the Commission up to 31 December 1999, but also
integrated
to lay
a
programme for the promotion of
in all
developing countries.

future,
investment

foundations

the

for

1.
The Commission shall take the steps needed to close
and liquidate the projects adopted under Regulation (EC) No
213/96.

2.
Those steps shall include any action required, pursuant to
Regulation (EC) No 213/96 with the aim of liquidating the
existing portfolio, to provide monitoring, management and
auditing of operations for which the Commission has already
adopted a financing decision,
including the amendment of
contracts already signed and the use of outside technical
assistance.

Article 2

As soon as possible and at the latest by 31 March 2001, the
Commission shall submit a report to the European Parliament
and the Council on the instrument for supporting the private
sector in developing countries, followed, as soon as possible,
by a legislative proposal
that
instrument.

to ensure the future of

Article 3

(1) OJ C 150 E, 30.5.2000, p. 79.
(2) Opinion of the European Parliament of 5 September 2000 (not yet
published in the Official Journal), Council Common Position of 10
November 2000 (OJ C 23, 24.1.2001, p. 46) and Decision of the
European Parliament of 14 March 2001.

(3) OJ L 28, 6.2.1996, p. 2.

This Regulation shall enter
into force on the third day
following that of its publication in the Official Journal of the
European Communities.

It shall apply until 31 December 2001.

L 112/2

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Official Journal of the European Communities

21.4.2001

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Luxembourg, 4 April 2001.

For the European Parliament

The President

N. FONTAINE

For the Council

The President

B. ROSENGREN