CELEX: 51979PC0129
Language: en
Date: 1979-03-09
Title: PROPOSAL FOR A DECISION applying Council Decision 78/870/EEC of 16 October 1978 empowering the Commission to contract loans for the purpose of promoting investment within the Community. (presented by the Commission to the Council)

ARCHIVES HISTORIQUES
DE LA COMMISSION
COLLECTION RELIEE DES
DOCUMENTS "COM"
COM (79) 129
Vol. 1979/0065
 ---pagebreak--- Disclaimer
Conformément au règlement (CEE, Euratom) n° 354/83 du Conseil du 1er février 1983
concernant l'ouverture au public des archives historiques de la Communauté économique
européenne et de la Communauté européenne de l'énergie atomique (JO L 43 du 15.2.1983,
p. 1), tel que modifié par le règlement (CE, Euratom) n° 1700/2003 du 22 septembre 2003
(JO L 243 du 27.9.2003, p. 1), ce dossier est ouvert au public. Le cas échéant, les documents
classifiés présents dans ce dossier ont été déclassifiés conformément à l'article 5 dudit
règlement.
In accordance with Council Regulation (EEC, Euratom) No 354/83 of 1 February 1983
concerning the opening to the public of the historical archives of the European Economic
Community and the European Atomic Energy Community (OJ L 43, 15.2.1983, p. 1), as
amended by Regulation (EC, Euratom) No 1700/2003 of 22 September 2003 (OJ L 243,
27.9.2003, p. 1), this file is open to the public. Where necessary, classified documents in this
file have been declassified in conformity with Article 5 of the aforementioned regulation.
In Übereinstimmung mit der Verordnung (EWG, Euratom) Nr. 354/83 des Rates vom 1.
Februar 1983 über die Freigabe der historischen Archive der Europäischen
Wirtschaftsgemeinschaft und der Europäischen Atomgemeinschaft (ABI. L 43 vom 15.2.1983,
S. 1), geändert durch die Verordnung (EG, Euratom) Nr. 1700/2003 vom 22. September 2003
(ABI. L 243 vom 27.9.2003, S. 1), ist diese Datei der Öffentlichkeit zugänglich. Soweit
erforderlich, wurden die Verschlusssachen in dieser Datei in Übereinstimmung mit Artikel 5
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 ---pagebreak---     CO ADMISSION OF THE EUROPEAN COMMUNITIES
                                                       COM(79)129 final
                                                       Brussels . 9 March 1979 *
                               PROPOSAL FOR A DECISION
               applying Council Decision IQ/870/SEC of 16 October 1978
               empowering the Commission to contract loans for the pur­
               pose of promoting investment within the Community.
                   (presented by the Commission to the Council)
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 ---pagebreak---                       PROPOSAL FOR A DECISION
aPPlying Council Decision 78/87O/EEC of 16 October 1978 empowering the
Commission to contract loans for the purpose of promoting investment within
the Community .
THE COUNCIL OP THE EUROPEAN COMMUNITIES ,
Having regard   to the Treaty establishing the European Economic Community ,
Having regard to Council Decision 78/87 O/EEC of 16 October 1978 empowering
the Commission to contract loans for the purpose of promoting investment
within the Community , and in particular Article 2 thereof (*),
Having regard to the proposal from the Commission ,
Having regard to the opinion of the European Parliament ,
Whereas the Community action aims at realizing structural investment projects
in line with priority Community objectives in the energy , industry and in­
frastructure sectors ;
Whereas the Community has set itself the objectives of stimulating the recovery
of economic activity and supporting common policies through Community actions
aiming at the realization of investment projects that contribute to greater
convergence and integration of the economic policies of the Member States ;
Whereas these objectives were reaffirmed by the European Council in its
resolution of 5 December on the introduction of the European monetary system
and related matters ;                                                *
Whereas investments in the infrastructure and energy sectors are of para­
mount importance for the economies of the Member States ;
Whereas the Community has not set itself the energy policy objectives of re­
ducing its dependence on imported energy and increasing the security of supplies ;
Whereas these objectives have been reaffirmed several times by the Council ,
and^ain recently by the European Council at its meeting of 6 and 7 July 1978 ;
*) O.J. N° L 298 of 25.lO.i978 , p. 9
 ---pagebreak---  Whereas the number and size of the investment projects to to realized in
 the infrastructure and energy sectors represent a substantial borrowing
 requirement ;
Whereas borrowings of an amount equivalent to 500 million EUA in principal
 seem appropriate in present circumstances for an initial series of loans to
finance investment projects in the above-mentiomed priority sectors ,
HAS DECIDED AS FOLLOWS :
                                  Article   1
A first tranche of borrowings shall be authorized for an amount not excee­
ding the equivalent of 500 million European units of acoount in principal .
                                  Article   2
The product of these borrowings shall be used for loans to finance investment
projects to be carried out on Community territoxy which are consistent with
priority Community objectives in the infrastructure and energy seotors .
The infrastructure investments shall involve mainly transports , telecommuni­
cations , agricultural improvements , hydraulic constructions and environmental
protection .
The energy investments Bhall contribute to greater independence and to security
and diversification of the Community 's energy supply ; they shall contribute
to the development , exploitation , use , transport and Btocking of energy
resources and to energy-saving*
                                  Article 3
The Commission shall decide whether or not projects are eligible in accor­
dance with the following guidelines s
  - the investment shall be consistent with the Community and national rules
    applicable in the relevant sector ;
  - the investment shall make an effective contribution to increasing gross
 . fixed asset formation in the Member State ooncerned;
  - the investment Bhall contribute to solving the Community 's main structu­
    ral problems , and in particular to reducing regional imbalance in the
    Community and to improving the employment situation^
 Done at Brussels ,