87/592/EEC: Council Decision of 14 December 1987 on the allocation of 60 million ECU for the implementation of a special Community programme to aid certain highly indebted low-income African countries

COUNCIL  DECISION
of 14 December 1987
on the allocation of 60 million ECU for the implementation of a special Community programme to aid certain highly indebted low-income African countries
(87/592/EEC)
THE COUNCIL OF THE EUROPEAN COMMUNITIES
,
Having regard to the Treaty establishing the European Economic Community,
Having regard to the Third ACP-EEC Convention signed in LomĂŠ on 8 December 1984, hereinafter referred to as 'the Third Convention'.
Having regard to the 1985 Internal Agreement on the financing and administration of Community aid, hereinafter referred to as the 'Internal Agreement', as amended by Council Decision 86/281/EEC (1), and in particular Article 9 (1) thereof,
Having regard to the proposal from the Commission,
Whereas debt problems were the subject of close attention at the Venice Summit in June 1987 and it was recognized that the problems of the highly indebted low-income countries of sub-Saharan Africa had to be treated as a special case;
Whereas a special 100 million ECU programme in aid of these countries should be implemented in 1988 and 1989 for the financing of quick-disbursing non-project aid and whereas 40 million ECU will be drawn from the outstanding balances of previous Conventions;
Whereas, to provide the 60 million ECU not covered by the outstanding balances, recourse should be had to the possibilities provided for in Article 9 (1) of the Internal Agreement with a view to financing part of this special programme;
Whereas, at its meeting on 14 and 15 December 1987, the Council defined the conditions for the implementation of this programme and, in particular, the criteria for selecting those countries eligible for aid,