Activites

• 1997/04/19 Final act published in Official Journal
  • Decision 1997/256
  • OJ L 102 19.04.1997, p. 0033
• #1998
• 1997/04/14 Council Meeting
• 1997/04/14 End of procedure in Parliament
• 1997/04/14 Act adopted by Council after consultation of Parliament
• 1997/03/14 Debate in Parliament
  • Debate in Parliament
  • T4-0135/1997 summary

    In adopting the report by Mr John TOMLINSON (PSE, UK) Parliament approved this proposal for a decision with the following amendments: - the Community should grant a total bank guarantee (100% instead of 65%) to cover political risk on loans granted by the EIB to the countries concerned, with an overall ceiling of ECU 7 105 million. By political risk Parliament understands currency non-transfer, expropriation, war and civil disturbance. For each loan granted the Commission and the EIB should indicate whether political risks exist (the Bank may secure cover for its risks with third parties); - the break down of the bank guarantee is modified for the Mediterranean countries and the Latin American and Asian countries: Parliament calls for ECU 2 310 m for the Mediterranean countries (instead of ECU 2 100 m) and ECU 970 m for Latin America and Asia (instead of ECU 900 m); - the Commission should inform Parliament and the Council of the operation of the scheme established and its economic and social impact on the recipient countries. It should also ensure the high profile of the Union's financial operations. Parliament also called on the EIB to increase its involvement in the funding of model cross-border projects supporting cooperation between EU Member States and Mediterranean countries and the development of 'south-south' projects. �

• 1997/03/10 Vote in committee, 1st reading/single reading
  • A4-0078/1997
• #1986
• 1997/01/27 Council Meeting
• 1997/01/17 Committee referral announced in Parliament, 1st reading/single reading
• 1996/11/13 Legislative proposal published
  • COM(1996)0586 summary

    OBJECTIVE: the proposal aims, first, to enable the EIB to continue its lending operations to assist investment projects carried out in certain third countries and, second, to grant a Community guarantee to the EIB against partial losses under such loans. SUBSTANCE : The Community will grant the EIB (European Investment Bank) a 65% guarantee in respect of any payments not received by it but due under loans granted, in accordance with its usual criteria, for investment projects carried out in Central and Eastern Europe, in Mediterranean non-member countries, in Latin American and Asian (LAA) countries, and in South Africa, up to the end of 1999, with an overall loan ceiling of ECU 6 825 million. The guarantee is broken down as follows: Central and Eastern Europe ECU 3 450 million, - Mediterranean non-member countries ECU 2 100 million, - Latin America and Asia ECU 900 million, - South Africa ECU 375 million. If, on expiry of the above period, the loans granted by the Bank have not attained the overall amounts referred to above, the period will be automatically extended by six months. The Commission and the EIB will ensure appropriate coordination between EIB operations in the eligible third countries and the implementation of the Community's other financial instruments. The Commission will regularly inform the EP and the Council of the situation regarding loans signed. �

Documents

• Legislative proposal published: COM(1996)0586
• Committee report tabled for plenary, 1st reading/single reading: A4-0078/1997
• Debate in Parliament: Debate in Parliament
• Decision by Parliament, 1st reading/single reading: T4-0135/1997
• : Decision 1997/256
• : OJ L 102 19.04.1997, p. 0033

History

(these mark the time of scraping, not the official date of the change)