CELEX: 22012D0356
Language: en
Date: 2012-06-15 00:00:00
Title: 2012/356/EU: Decision No 1/2012 of the ACP-EU Council of Ministers of 15 June 2012 regarding the revision of terms and conditions of investment financing (Chapter 1 of Annex II to the ACP-EU Partnership Agreement)

4.7.2012   
            
            
               EN
            
            
               Official Journal of the European Union
            
            
               L 174/27
            
         DECISION No 1/2012 OF THE ACP-EU COUNCIL OF MINISTERS
   of 15 June 2012
   regarding the revision of terms and conditions of investment financing (Chapter 1 of Annex II to the ACP-EU Partnership Agreement)
   (2012/356/EU)
   THE ACP-EU COUNCIL OF MINISTERS,
   Having regard to the Partnership Agreement between the members of the African, Caribbean and Pacific Group of States, of the one part, and the European Community and its Member States, of the other part (1), as last amended (hereinafter referred to as the ‘ACP-EU Partnership Agreement’), and in particular Article 100 thereof,
   Whereas:
   
               (1)
            
            
               A mid-term evaluation on the use of the ACP Investment Facility and of the European Investment Bank’s own resources in the ACP region was conducted in accordance with Article 6b of Annex II to the ACP-EU Partnership Agreement. One of the recommendations presented in the mid-term evaluation was to secure supplementary grant resources for technical assistance.
            
         
               (2)
            
            
               Taking into account the results of the mid-term evaluation, the part of the envelope for interest rate subsidies which can be used for project-related technical assistance, as provided for in Article 1(3) and Article 2(9) of Annex II to the ACP-EU Partnership Agreement, should be increased from 10 % to 15 %,
            
         HAS ADOPTED THIS DECISION:
   Article 1
   Annex II to the ACP-EU Partnership Agreement is hereby amended as follows:
   
               (1)
            
            
               in Article 1, paragraph 3 is replaced by the following:
               ‘3.   Interest subsidies may be capitalised or used in the form of grants. The amount of the interest rate subsidy, calculated in terms of its value at the time of disbursement of the loan, shall be charged against the interest subsidy allocation specified in Annex Ib, paragraph 2(c), and paid directly to the Bank. Up to 15 % of this allocation for interest rate subsidies may also be used to support project-related technical assistance in ACP countries.’;
            
         
               (2)
            
            
               in Article 2, paragraph 9 is replaced by the following:
               ‘9.   Interest subsidies may be capitalised or used in the form of grants. Up to 15 % of the budget for interest rate subsidies may be used to support project-related technical assistance in ACP countries.’.
            
         Article 2
   This Decision shall enter into force on the day of its adoption.
   
      Done at Port Vila, 15 June 2012.
      
         
            For the ACP-EU Council of Ministers
         
         
            The President
         
         A. BAPTISTE
      
   
   
      (1)  OJ L 317, 15.12.2000, p. 3.