CELEX: 21988A1130(04)
Language: en
Date: 1987-12-15 00:00:00
Title: Protocol relating to financial cooperation between the European Economic Community and the State of Israel

Avis juridique important

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21988A1130(04)

Protocol relating to financial cooperation between the European Economic Community and the State of Israel  

Official Journal L 327 , 30/11/1988 P. 0052 - 0056 Finnish special edition: Chapter 11 Volume 14 P. 0185  Swedish special edition: Chapter 11 Volume 14 P. 0185 

PROTOCOL relating to financial cooperation between the European Economic Community and the State of IsraelTHE COUNCIL OF THE EUROPEAN COMMUNITIES,of the one part, andTHE STATE OF ISRAEL,of the other part,REAFFIRMING their resolve to implement, under the Mediterranean policy of the enlarged Community, cooperation which will contribute to the economic development of Israel and promote the strengthening of relations between the Community and Israel,ANXIOUS to pursue to this end the financial cooperation provided for in the Agreement between the European Economic Community and the State of Israel, signed on 11 May 1975,HAVE DECIDED to conclude this Protocol and to this end have designated as their plenipotentiaries:THE COUNCIL OF THE EUROPEAN COMMUNITIES:Jakob Esper LARSEN,Ambassador Extraordinary and Plenipotentiary,Permanent Representative of Denmark,Chairman of the Permanent Representatives Committee,Jean DURIEUXSpecial Adviser in the Directorate-General for External Relations of the Commission of the European Communities;THE STATE OF ISRAEL:Avraham PRIMOR,Ambassador Extraordinary and Plenipotentiary;WHO, having exchanged their full powers, found in good and due form,HAVE AGREED AS FOLLOWS:Article 1The Community shall participate, within the framework of financial cooperation, in the financing of projects designed to contribute to the economic development of Israel.Article 21.  For the purposes specified in Article 1, the Community will ask the European Investment Bank (hereinafter referred to as 'the Bank') to make available to Israel funds of up to ECU 63 million. This amount may be committed, for a period expiring on 31 October 1991, in the form of loans granted in accordance with the conditions, detailed rules and procedures laid down by the Bank's statute.2.  Capital projects helping to increase productivity and to achieve complementarity between the Contracting Parties' economies and promoting, in particular, theindustrialization of Israel, which have been submitted to the Bank by the State of Israel or, with the latter's agreement, by public or private undertakings having their seat or a place of business in Israel, shall be eligible for financing.3. (a)  Examination of the eligibility of the projects and the granting of loans shall be undertaken in accordance with the detailed rules, conditions and procedures laid down by the Bank's statute;(b)  the loans shall, as regards their duration, be subject to terms established on the basis of the economic and financial characteristics of the projects for which these loans are intended, also taking into account the conditions obtaining on the capital markets on which the Bank procures its resources;(c)  the interest rate shall be determined in accordance with the Bank's practice at the time of signature of each loan contract.Article 3Any funds not committed at the end of the period referred to in Article 2 (1) shall be used until exhausted. In that case, the funds shall be used in accordance with the same arrangements as those laid down in this Protocol.Article 4Aid contributed by the Bank for the execution of projects may, with the agreement of Israel, take the form of co-financing.Article 5The execution, management and maintenance of schemes which are the subject of financing under this Protocol shall be the responsibility of Israel or the other beneficiaries referred to in Article 2.The Bank shall ensure that its financial aid is expended in accordance with the agreed allocations and to the best economic advantage.Article 61.  Israel shall apply to contracts awarded for the execution of projects financed by the Bank fiscal and customs arrangements no less favourable than those applied vis-à-vis the most favoured nation or the most favoured international development organization.2.  Israel shall take the necessary measures to ensure that interest and all other payments due to the Bank in respect of loans granted under this Protocol are exempted from any national or local taxes or levies.Article 7Where a loan is granted to a beneficiary other than the State of Israel, the provision of a guarantee by the latter or other sufficient guarantees shall be required by the Bank as a condition of the grant of the loan.Article 8All natural and legal persons coming within the scope of the Treaty establishing the European Economic Community and all natural and legal persons of Israel may participate on equal terms in tendering procedures and other procedures for the award of contracts which may be financed by the Bank.Such legal persons formed in accordance with the law of a Member State of the European Economic Community or with that of Israel must have their registered offices, their administrative head offices or their principal establishments in the territories in which the Treaty establishing the European Economic Community is applied or in Israel; however, where only their registered offices are in those territories or in Israel, the activities of such legal persons must be effectively and continuously linked with the economy of those territories or of Israel.Article 9Throughout the duration of the loans granted pursuant to this Protocol, Israel shall undertake to make available to debtors enjoying such loans and guarantors of the loans the foreign currency necessary for the payment of interest and commission and the repayment of capital.Article 10The results of financial cooperation may be examined within the Cooperation Council.Article 11One year before this Protocol expires, the Contracting Parties will consider measures which might be taken during a new period of financial cooperation.Article 12This Protocol shall form an integral part of the Agreement between the European Economic Community and the State of Israel signed on 11 May 1975.Article 131.  This Protocol shall be subject to approval in accordance with the Contracting Parties' own procedures; the Contracting Parties shall notify each other when the procedures necessary to this end have been completed.2.  This Protocol shall enter into force on the first day of the second month following the date on which the notifications provided for in paragraph 1 have been given.Article 14This Protocol shall be drawn up in two original copies in the Danish, Dutch, English, French, German, Greek, Italian, Portuguese, Spanish and Hebrew languages, each of these texts being equally authentic.En fe de lo cual, los plenipotenciarios abajo firmantes suscriben el presente Protocolo.Til bekræftelse heraf har undertegnede befuldmægtigede underskrevet denne protokol.Zu Urkund dessen haben die unterzeichneten Bevollmächtigten ihre Unterschriften unter dieses Protokoll gesetzt.Åéò ðßóôùóç ôùí áíùôÝñù, ïé õðïãåãñáììÝíïé ðëçñåîïýóéïé Ýèåóáí ôéò õðïãñáöÝò ôïõò óôï ðáñüí ðñùôüêïëëï.In witness whereof, the undersigned Plenipotentiaries have signed this Protocol.En foi de quoi, les plénipotentiaires soussignés ont apposé leurs signatures au bas du présent protocole.In fede di che, i plenipotenziari sottoscritti hanno apposto le loro firme in calce al presente protocollo.Ten blijke waarvan de ondergetekende gevolmachtigden hun handtekening onder dit Protocol hebben gesteld.Em fé do que, os plenipotenciários abaixo assinados apuseram as suas assinaturas no final do presente protocolo.Hecho en Bruselas, el quince de diciembre de mil novecientos ochenta y siete.Udfærdiget i Bruxelles, den femtende december nitten hundrede og syvogfirs.Geschehen zu Brüssel am fünfzehnten Dezember neunzehnhundertsiebenundachtzig.éÅãéíå óôéò ÂñõîÝëëåò, óôéò äÝêá ðÝíôå Äåêåìâñßïõ ÷ßëéá åííéáêüóéá ïãäüíôá åðôÜ.Done at Brussels on the fifteenth day of December in the year one thousand nine hundred and eighty-seven.Fait à Bruxelles, le quinze décembre mil neuf cent quatre-vingt-sept.Fatto a Bruxelles, addì quindici dicembre millenovecentottantasette.Gedaan te Brussel, de vijftiende december negentienhonderdzevenentachtig.Feito em Bruxelas, em quinze de Dezembro de mil novecentos e oitenta e sete.Por el Consejo de las Comunidades EuropeasFor Rådet for De Europæiske FællesskaberFür den Rat der Europäischen GemeinschaftenÃéá ôï Óõìâïýëéï ôùí Åõñùðáúêþí ÊïéíïôÞôùíFor the Council of the European CommunitiesPour le Conseil des Communautés européennesPer il Consiglio delle Comunità europeeVoor de Raad van de Europese GemeenschappenPelo Conselho das Comunidades EuropeiasPor el Estado de IsraelFor IsraelFür den Staat IsraelÃéá ôï êñÜôïò ôïõ ÉóñáÞëFor the State of IsraelPour l'État d'IsraëlPer lo Stato d'IsraeleVoor de Staat IsraëlPelo Estado de Israel