CELEX: 51993PC0332(02)
Language: en
Date: 1993-07-09
Title: Proposal for a COUNCIL DECISION empowering the Commission to contract borrowings for the purpose of extending loans to Member States under the bridging facility

Official Journal of the European Communities                            No C 210 / 21
4 . 8 . 93
HAS DECIDED AS FOLLOWS :                                                                  Article 2
                                                                 The facility shall be administered by the EIB on behalf of
                         Article 1                               the Community, whilst exercising the same diligence as
                                                                 for the operations carried out with its own resources.
The Community shall provide subsidies for the purpose            The modalities concerning the implementation of the
of lowering the interest rate on EIB loans to SMEs in the        present decision shall be set out in a cooperation
Community up to a maximum of ECU 400 million in                  agreement between the Commission and the EIB.
principal. These loans shall be extended by the Bank
under the terms and conditions applying to the loans                                      Article 3
stemming from the temporary facility, which was
orginally established by the Board of Governors of the           The Commission shall inform the Council and the
Bank on 10 February 1993 and further extended by the             Parliament annually on the implementation of the
Board on ... . The benefit of these subsidies shall be           present Decision, indicating the overall utilization of the
restricted to investment projects involving the creation of      SME facility in the Community as well as the impact on
employment.                                                      the creation of employment and on the interest rates for
                                                                 the investments by SMEs covered by the facility, on the
The Community interest subsidies shall be fixed at 300           basis of the necessary information made available by the
basis points and shall be extended to the beneficiaries of       EIB. A first report shall be presented before 10
the loans for a maximum period of five years.                    December 1993 .
              Proposal for a Council Decision empowering the Commission to contract borrowings for the
                         purpose of extending loans to Member States under the bridging facility
                                                       (93 /C 210/20)
                                                     COM(93) 332 final
                                       (Submitted by the Commission on 9 July 1993)
THE COUNCIL OF THE EUROPEAN COMMUNITIES,                          the promotion of economic growth and competitiveness
                                                                  and the fight against unemployment;
 Having regard to the Treaty instituting the European
 Economic Community and in particular Article 235                 Whereas the bridging facility will contribute to accelerate
 thereof,                                                         economic and social cohesion within the Community ;
 Having regard to the proposal by the Commission,                 Whereas important resources can be mobilized from the
                                                                  capital markets for the purposes stated above ;
 Having regard to the opinion of the Parliament,
                                                                  Whereas this facility will have an economic effect going
 Whereas, in order to boost ahead of schedule the                 far beyond its nominal size ;
 investment projects under the Structural Funds, the
 European Council in Copenhagen invited the Ecofin                Whereas the implementation of the bridging facility
 Council to examine a proposal from the Commission                should not modify in any way the objectives and prin­
 that would enable Member States to draw on a                     ciples applying to the Structural Funds and the Cohesion
 Community bridging facility at market interest rates up          Fund ;
 to a maximum of ECU 5 billion available until the end of
  1995 ;                                                          Whereas the use of the bridging facility in the context of
                                                                  eligible projects under the Cohesion Fund may only be
 Whereas     the   European     Council    concluded    that      considered once this instrument has its definitive legal
 repayment of this Community loan would be drawn                  base ;
 from Structural Fund appropriations in subsequent years ;
 and that similar arrangements could be applied to the            Whereas the bridging facility shall be available to
 Cohesion Fund ;                                                   Member States on a voluntary basis ;
 Whereas this would constitute an important short-term            Whereas the Treaty includes no provision other than
 measure at the level of the Community in the context of          Article 235 for the adoption of the present decision ;
 ---pagebreak--- No C 210 / 22                              Official Journal of the European Communities                                  4 . 8 . 93
HAS DECIDED AS FOLLOWS :                                               from the Structural Funds for the CSFs concerned,
                          Article 1                                    programmed for the years during which one or more of
                                                                       these payments or repayments become due. Similar
The Commission is empowered, on behalf of the                          arrangements regarding repayment may apply to the
European Economic Community, to contract borrowings                    Cohesion Fund .
up to a total amount of ECU 5 billion in principal under
the bridging facility, for the purpose of extending loans              The modalities covering the implementation of these
to Member States to be used for the accelerated                        repayments shall be agreed between the Commission and
                                                                       the Member States concerned .
implementation of investment measures to be included in
the Community support frameworks (CSFs), as well as,
and subject to future legislative provisions and conditions                                      Article 4
governing the operation of the Cohesion Fund, projects                 The borrowing operations referred to in Article 1 shall
approved for funding from that instrument.                             be negotiated by the Commission in the best interest of
                          Article 2
                                                                       the Community and the recipient Member States,
                                                                       depending on the conditions prevailing in the capital
Drawings under this facility shall be available in                     market and the borrowing requirements in terms of loan
successive instalments until the end of 1995 , while                   maturity and other modalities .
repayments shall be completed by 31 December 1999 at
the latest.                                                            The lending operations shall be expressed in the same
                                                                       currency as the corresponding borrowing operations and
                          Article 3                                    bear the same conditions in general .
The financial resources necessary for the repayment of                                           Article 5
the principal of each loan at its final maturity, as well as
for the service of intermediate interest payment shall be              The Commission shall inform both the Council and the
made available in their entirety by the recipient Member               Parliament once a year on the use of the bridging
State to the Commission . For this purpose the recipient               facility, as well as on the payments of the interest and
Member States may earmark budgetary appropriations                     principal made under it.
              Proposal for a Council Regulation amending Regulation (EEC) No 804/68 on the common
                                        organization of the market in milk and milk products
                                                            (93 / C 210/21 )
                                                          COM(93) 323 final
                                           (Submitted by the Commission on 12 July 1993)
THE COUNCIL OF THE EUROPEAN COMMUNITIES ,                              procedure permitting a promotional levy on milk
                                                                       producers at the national level,
Having regard to the Treaty establishing the European
Economic Community, and in particular Article 43                       HAS ADOPTED THIS REGULATION :
thereof,                                                                                         Article 1
Having regard to the proposal from the Commission,                     The following Article 24a is hereby added to Regulation
Having regard to the opinion of the European                           (EEC) No 804 /68 :
Parliament,                                                                 Article 24a
Whereas      Regulation    (EEC)         No    1079 / 77  on    a          A Member State may, at its request, be authorized to
co-responsibility levy and on measures for expanding the                   make a promotional levy on milk producers in
market in milk and milk products (') expired on 1 April                    respect of marketed quantities of milk or milk
1993 ; whereas if a Member State wishes to strengthen,                     equivalent.'
on its territory, the measures provided for in Regulation
                                                                                                 Article 2
(EEC) No 2073 /92 on promoting consumption in the
Community and expanding the markets for milk and                       This Regulation shall enter into force on the seventh day
milk products (2) provision should be made for a                       following its publication in the Official Journal of the
                                                                       European Communities.
O OJ No L 131 , 26 . 5 . 1977 , p . 6 .                                This Regulation shall be binding in its entirety and
O OJ No L 215 , 30 . 7 . 1992 , p. 67 .                                directly applicable in all Member States .