Annexes to COM(2012)113 - EU position within the ACP-EU Council of Ministers regarding the revision of terms and conditions of investment financing (Chapter 1 of Annex II to the ACP-EC Partnership Agreement)

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dossier COM(2012)113 - EU position within the ACP-EU Council of Ministers regarding the revision of terms and conditions of investment financing ...
document COM(2012)113 EN
date March 19, 2012
ANNEX

Draft

DECISION OF THE ACP-EU COUNCIL OF MINISTERS

regarding the revision of terms and conditions of investment financing (Chapter 1 of Annex II to the ACP-EC Partnership Agreement)

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, signed in Cotonou on 23 June 2000[3] as amended in Luxembourg on 25 June 2005[4] and in Ouagadougou on 22 June 2010[5] (the ‘ACP-EC Partnership Agreement’), and in particular Article 100 thereof,

Whereas:

(1) A mid-term evaluation on the use of the Investment Facility and of EIB own resources in the ACP region was conducted in accordance with Article 6b of Chapter 1 of Annex II to the ACP-EC Partnership Agreement. One of the recommendations presented in the evaluation was to secure supplementary grant resources for technical assistance.

(2) Taking into account the results of the mid-term evaluation, the purpose of the proposed revision of Annex II to the ACP-EC Partnership Agreement is to increase from 10% to 15% the part of the envelope for interest rate subsidies which can be used for projects related technical assistance, as defined in articles 1(3) and 2(9) of Chapter 1 of Annex II to the ACP-EC Partnership Agreement.

HAS DECIDED AS FOLLOWS:

Article 1

Chapter 1 of Annex II to the ACP-EC Partnership Agreement is amended as follows:

1. In Article 1, paragraph 3 is replaced by the following:

'Interest subsidies may be capitalised or may be used in the form of grants. The amount of the interest rate subsidy, calculated in terms of its value at the times 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:

'Interest subsidies may be capitalised or may be 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 […], […]

For the ACP-EU Council of Ministers

The President

[1]               OJ L 317, 15.12.2000, p. 3. Agreement as amended by the Agreement signed in Luxembourg on 25 June 2005 (OJ L 287, 28.10.2005, p. 4) and by the Agreement signed in Ouagadougou on 22 June 2010 (OJ L 287, 4.11.2010, p. 3).

[2]               OJ L 317, 15.12.2000, p. 3. Agreement as amended by the Agreement signed in Luxembourg on 25 June 2005 (OJ L 287, 28.10.2005, p. 4) and by the Agreement signed in Ouagadougou on 22 June 2010 (OJ L 287, 4.11.2010, p. 3).

[3]               OJ L 317, 15.12.2000, p. 3. Agreement as rectified by OJ L 385, 29.12.2004, p. 88.

[4]               OJ L 209, 11.8.2005, p. 27.

[5]               OJ L 287, 4.11.2010, p. 3.