THE PROJECT ; THIS PERIOD MAY NOT EXCEED 25 YEARS .
3 . THE RATE OF INTEREST SHALL BE THE RATE CHARGED BY THE BANK AT THE TIME OF THE SIGNATURE OF EACH LOAN CONTRACT . THIS RATE SHALL GENERALLY BE REDUCED BY 3 % BY MEANS OF AN INTEREST RATE SUBSIDY . THE INTEREST RATE SUBSIDY SHALL , HOWEVER , BE AUTOMATICALLY ADJUSTED SO THAT THE INTEREST RATE ACTUALLY BORNE BY THE BORROWER WILL BE NEITHER LESS THAN 5 % NOR MORE THAN 8 % . THE INTEREST RATE SUBSIDY SHALL NOT BE APPLIED WHERE THE LOANS ARE INTENDED FOR INVESTMENTS IN THE OIL SECTOR OR IN THE MINING SECTOR , OR WHERE THEY ARE SITUATED IN COUNTRIES OR TERRITORIES OR CONCERN SECTORS WHICH WILL BE DETERMINED BY THE COUNCIL .
4 . THE AGGREGATE AMOUNT OF INTEREST RATE SUBSIDIES , CALCULATED IN TERMS OF ITS VALUE AT THE TIME OF THE SIGNATURE OF THE LOAN CONTRACT AT A RATE AND ACCORDING TO RULES TO BE LAID DOWN BY AGREEMENT BETWEEN THE COMMISSION AND THE BANK , SHALL BE CHARGED AGAINST THE AMOUNT OF GRANT AID SPECIFIED IN POINT 1 OF ARTICLE 30 ( 2 ) OF THE DECISION AND SHALL BE PAID DIRECTLY TO THE BANK .
CHAPTER 2
TECHNICAL COOPERATION
ARTICLE 5
1 . THE TECHNICAL COOPERATION REFERRED TO IN ARTICLE 34 OF THE DECISION MAY BE EITHER LINKED WITH INVESTMENTS OR OF A GENERAL NATURE .
2 . TECHNICAL COOPERATION LINKED WITH INVESTMENTS COMPRISES :
( A ) PLANNING AND SPECIAL AND REGIONAL DEVELOPMENT STUDIES ;
( B ) TECHNICAL , ECONOMIC AND COMMERCIAL STUDIES , AND RESEARCH AND SURVEYS REQUIRED TO PREPARE PROJECTS ;
( C ) AID IN THE PREPARATION OF DOSSIERS ;
( D ) AID IN THE EXECUTION AND SUPERVISION OF WORK ;
( E ) TEMPORARY AID FOR THE ESTABLISHMENT , LAUNCHING AND OPERATION OF A SPECIFIC INVESTMENT OR OF INSTALLATIONS , INCLUDING WHERE NECESSARY THE TRAINING OF PERSONNEL FOR THE OPERATION AND MAINTENANCE OF THE INVESTMENT OR INSTALLATIONS ;
( F ) MEETING THE COST OF TECHNICIANS TEMPORARILY AND PROVIDING GOODS NECESSARY TO THE PROPER EXECUTION OF AN INVESTMENT PROJECT .
3 . GENERAL TECHNICAL COOPERATION COMPRISES :
( A ) THE GRANT OF SCHOLARSHIPS FOR STUDIES , TRAINING COURSES AND POSTAL TUITION TO PROVIDE , PREFERABLY IN THE COUNTRIES AND TERRITORIES , FOR THE VOCATIONAL TRAINING AND FURTHER TRAINING OF THE NATURAL PERSONS THEREOF ;
( B ) THE ORGANIZATION OF SPECIFIC TRAINING PROGRAMMES IN THE COUNTRIES AND TERRITORIES , IN PARTICULAR FOR THE STAFF OF PUBLIC SERVICES AND INSTITUTIONS OF THE COUNTRIES AND TERRITORIES OR OF UNDERTAKINGS THEREIN ;
( C ) AT THE REQUEST OF THE RELEVANT AUTHORITIES OF THE COUNTRIES AND TERRITORIES , THE PROVISION OF EXPERTS , ADVISERS , TECHNICIANS AND INSTRUCTORS OF THE MEMBER STATES OR OF THE COUNTRIES AND TERRITORIES FOR SPECIFIC MISSIONS AND FOR LIMITED PERIODS ;
( D ) THE SUPPLY OF INSTRUCTIONAL , EXPERIMENTAL AND DEMONSTRATION EQUIPMENT ;
( E