2005/954/EC: Council Decision of  21 December 2005  on an amendment to the Agreement Establishing the European Bank of Reconstruction and Development (EBRD), enabling the Bank to finance operations in Mongolia
Date: 2005-12-21
Institutions: Council of the European Union
Subjects: EBRD, Mongolia, aid policy, competence of the institution

29.12.2005

EN

Official Journal of the European Union

L 346/31

COUNCIL DECISION

of 21 December 2005

on an amendment to the Agreement Establishing the European Bank of Reconstruction and
Development (EBRD), enabling the Bank to finance operations in Mongolia

(2005/954/EC)

THE COUNCIL OF THE EUROPEAN UNION,

accepted by all member countries and institutions,
including by the European Community.

Having regard to the Treaty
Community, and in particular Article 181a thereof,

establishing the European

(5)

Having regard to the proposal from the Commission,

Acceptance by
amendment
objectives
technical cooperation with third countries,

this
the European Community of
is necessary to achieve the Community's
financial and
economic,

field of

in the

Having regard to the Opinion of the European Parliament (1),

HAS DECIDED AS FOLLOWS:

Whereas:

Article 1

(1)

(2)

(3)

(4)

Although a member of the EBRD since 2000, Mongolia
is not currently a country in which the Bank is
authorised to carry out operations on its own resources.

to the Agreement establishing the EBRD,
The amendment
necessary to enable
in
the Bank to finance operations
Mongolia, is hereby approved on behalf of the Community.

the Prime Minister of
In response to the request of
Mongolia,
the EBRD has
expressed unanimous support to admit Mongolia as a
country of operations of the Bank.

the Board of Directors of

By Resolution adopted on 30 January 2004, the Board of
Governors of the EBRD voted in favour of the necessary
to the Agreement Establishing the Bank,
amendment
enabling it to finance operations in Mongolia. All the
Governors of
this
amendment,
including the Governor representing the
European Community.

the Bank voted in favour of

As the amendment concerns the purpose and functions
it also be formally
of

is necessary that

the Bank,

it

The text of the amendment is attached to this Decision.

Article 2

The Governor of
the EBRD representing the European
Community shall communicate to the EBRD the Declaration
of Acceptance of this amendment.

Done at Brussels, 21 December 2005.

For the Council
The President

B. BRADSHAW

(1) Opinion delivered on 15 November 2005 (not yet published in the

Official Journal).

L 346/32

EN

Official Journal of the European Union

29.12.2005

Amendment

to the Agreement Establishing the European Bank for Reconstruction and

Development

Article 1 of the Agreement shall be replaced by the following:

‘Article 1

Purpose

In contributing to economic progress and reconstruction, the purpose of the Bank shall be to foster the
transition towards open market-oriented economies and to promote private and entrepreneurial
initiative in the Central and Eastern European countries committed to and applying the principles
of multiparty democracy, pluralism and market economics. The purpose of the Bank may also be
carried out in Mongolia subject to the same conditions. Accordingly, any reference in this Agreement
and its annexes to “Central and Eastern European countries”, “countries from Central and Eastern
Europe”, “recipient country (or countries)” or “recipient member country (or countries)” shall refer to
Mongolia as well.’