Decision 2008/580 - 2008/580/EC: Council Decision of 23 June 2008 granting a Community guarantee to the European Investment Bank against losses under loans for projects outside the EC (South-eastern neighbours, Mediterranean countries, Latin America and Asia and South Africa) (Codified version) - Main contents
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official title
2008/580/EC: Council Decision of 23 June 2008 granting a Community guarantee to the European Investment Bank against losses under loans for projects outside the Community (South-eastern neighbours, Mediterranean countries, Latin America and Asia and the Republic of South Africa) (Codified version)| Legal instrument | Decision |
|---|---|
| Number legal act | Decision 2008/580 |
| Original proposal | COM(2006)419  |
| CELEX number i | 32008D0580 |
| Document | 23-06-2008 |
|---|---|
| Publication in Official Journal | 15-07-2008; OJ L 186 p. 30-35 |
| Effect | 04-08-2008; Entry into force Date pub. + 20 See Art 5 |
| End of validity | 31-12-9999 |
| Notification | 01-01-1001 |
15.7.2008 |
EN |
Official Journal of the European Union |
L 186/30 |
COUNCIL DECISION
of 23 June 2008
granting a Community guarantee to the European Investment Bank against losses under loans for projects outside the Community (South-eastern neighbours, Mediterranean countries, Latin America and Asia and the Republic of South Africa)
(Codified version)
(2008/580/EC)
THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty establishing the European Community, and in particular Article 181a thereof,
Having regard to the proposal from the Commission,
Having regard to the opinion of the European Parliament (1),
Whereas:
(1) |
Council Decision 2000/24/EC of 22 December 1999 granting a Community guarantee to the European Investment Bank against losses under loans for projects outside the Community (Central and Eastern Europe, Mediterranean countries, Latin America and Asia and the Republic of South Africa) (2) has been substantially amended several times (3). In the interests of clarity and rationality the said Decision should be codified. |
(2) |
The European Council meeting in Madrid on 15 and 16 December 1995 confirmed the importance of the European Investment Bank, hereinafter referred to as ‘the EIB’, as an instrument of cooperation between the Community and Latin America and called on the EIB to intensify its activities in the region. These projects should be of interest to both the Community and the countries concerned. |
(3) |
The European Council meeting in Florence on 21 and 22 June 1996 welcomed the results of the Asia-Europe summit, which marked a turning-point in relations between the two continents. |
(4) |
The European Council meeting in Amsterdam on 16 and 17 June 1997 welcomed the conclusions adopted at the Second Euro-Mediterranean Conference, which was held at Valletta, Malta, on 15 and 16 April 1997 and reaffirmed the principles and objectives agreed at Barcelona in 1995. |
(5) |
The European Council meeting in Luxembourg on 12 and 13 December 1997 launched the enlargement process with the Central and Eastern European countries and Cyprus. |
(6) |
The European Council meeting in Cardiff on 15 and 16 June 1998 welcomed the efforts which the Republic of South Africa was making to modernise its economy and integrate it into the world trading system. |
(7) |
The EIB is completing the current loan programmes for Central and Eastern Europe, the Mediterranean region, Asia and Latin America and the Republic of South Africa pursuant to Decision 97/256/EC (4), as well as the lending that is governed by the Protocol on Financial Cooperation with the former Yugoslav Republic of Macedonia, according to Decision 98/348/EC (5). |
(8) |
The Council has invited the EIB to start operations in Bosnia and Herzegovina. These operations have continued, following the positive report (6) drawn up as stipulated in Council Decision 98/729/EC (7). |
(9) |
Although Bosnia and Herzegovina and the former Yugoslav Republic of Macedonia have been included in the Central and Eastern Europe region since the adoption of Decision 97/256/EC, the EIB’s total lending effort to applicant countries within this region should increase given the importance of the pre-accession facility the EIB plans to create for EIB lending for projects in these countries without a guarantee from the Community budget or Member States. |
(10) |
In these circumstances, the EIB should ensure that its guaranteed lending within the Central and Eastern Europe mandate will finance particularly projects in those countries which have fewer projects suitable for financing from the pre-accession facility or projects in non-applicant countries. |
(11) |
The Cooperation Agreements between the European Community... |
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