Activites

• 1999/11/16 Final act published in Official Journal
  • Decision 1999/732
  • OJ L 294 16.11.1999, p. 0029
• #2212
• 1999/11/08 Council Meeting
• 1999/11/08 End of procedure in Parliament
• 1999/11/08 Act adopted by Council after consultation of Parliament
• 1999/10/06 Decision by Parliament, 1st reading/single reading
  • T5-0047/1999 summary

    The European Parliament approved the Commission's proposal subject to some amendments. These amendments were designed to ensure that there is proper monitoring and that the funds are spent in accordance with the principles of sound and efficient management, proper reporting for Parliament and that Romania uses the funding to improve social and economic conditions for the people. parliament's Rapporteur was Mr. Hans-Peter Martin (A, PES).�

• 1999/10/05 Debate in Parliament
  • Debate in Parliament
• 1999/09/28 Vote in committee, 1st reading/single reading
  • A5-0019/1999
• 1999/09/13 Committee referral announced in Parliament, 1st reading/single reading
• 1999/08/18 Formal reconsultation of Parliament
• 1999/07/28 Legislative proposal published
  • COM(1999)0405 summary

    PURPOSE: to provide supplementary macro-financial assistance to Romania. CONTENT: The Commission is proposing that the Community would make available to Romania a balance of payments loan of up to 200 million euros with a maximum duration of 10 years. The proposed duration of the loan is consistent with the medium- and long-term balance of payments outlook for the country, which is expected to face substantial financing needs for the years to come. The assistance would be granted in the context of the stand-by arrangement to be approved by the IMF and would complement resources made available by the International Financial Institutions and bilateral donors. The assistance would be released in two tranches subject to a satisfactory track record of the country's economic programme agreed with the IMF and progress with respect to structural reforms (including observance of a number of performance criteria). The Economic and Financial Committee would be consulted prior to each disbursement. As in the case of similar operations in favour of other partners countries, the Community woould provide the funds through market borrowing with a guarantee by the general budget. Romania would subsequently borrow from the Community. The borrowing and lending operations would be perfectly matched and without any commercial risk for the Community. In accordance with the Guarantee Fund mechanism, the budgetary implications of a decision to make available assistance of up to 200 million euros to Romania would imply a 28 million euro provisioning of the Fund. At least once a year, the Commission will provide a report to the European Parliament and the Council of Ministers which will include an evaluation of the implementation of this Decision.�

Documents

• Legislative proposal published: COM(1999)0405
• Committee report tabled for plenary, 1st reading/single reading: A5-0019/1999
• Debate in Parliament: Debate in Parliament
• Decision by Parliament, 1st reading/single reading: T5-0047/1999
• : Decision 1999/732
• : OJ L 294 16.11.1999, p. 0029

History

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