98/348/EC: Council Decision of 19 May 1998 granting a Community guarantee to the European Investment Bank against losses under loans for projects in the former Yugoslav Republic of Macedonia and amending Decision 97/256/EC granting a Community guarantee to the European Investment Bank against losses under loans for projects outside the Community (Central and Eastern European countries, Mediterranean countries, Latin American and Asian countries and South Africa)

COUNCIL DECISION of 19 May 1998 granting a Community guarantee to the European Investment Bank against losses under loans for projects in the former Yugoslav Republic of Macedonia and amending Decision 97/256/EC granting a Community guarantee to the European Investment Bank against losses under loans for projects outside the Community (Central and Eastern European countries, Mediterranean countries, Latin American and Asian countries and South Africa) (98/348/EC)
THE COUNCIL OF THE EUROPEAN UNION
,
Having regard to the Treaty establishing the European Community, and in particular Article 235 thereof,
Having regard to the proposal of the Commission (1),
Having regard to the opinion of the European Parliament (2),
Whereas by its Decisions of 27 November 1997 the Council concluded a Cooperation Agreement between the European Community and the former Yugoslav Republic of Macedonia and a Transport Agreement between the same parties;
Whereas the said Cooperation Agreement includes a Protocol on financial cooperation which provides for the European Investment Bank (EIB) to grant loans from its own resources up to a ceiling of ECU 150 million until 31 December 2000;
Whereas Decision 97/256/EC (3) grants the EIB a budget guarantee for lending from its own resources in specified regions outside the Community; whereas the budget guarantee should be extended to cover the Bank loans agreed in the Protocol on financial cooperation with the former Yugoslav Republic of Macedonia;
Whereas the Council is calling on the Bank to finance projects in that country according to the arrangements set out in the Protocol on financial cooperation by offering it the guarantee provided for in this Decision;
Whereas Decision 97/256/EC should therefore be amended;
Whereas the Treaty does not provide for the adoption of this Decision powers other than those of Article 235,