80/739/EEC: Council Decision of 22 July 1980 applying for the second time Decision 78/870/EEC empowering the Commission to contract loans for the purpose of promoting investment within the Community

• CELEX: Decision 78/870/EEC
• Articles: 3

Article 1

A second tranche of borrowings is hereby authorized for an amount not exceeding the equivalent of a capital sum of 500 million European units of account. The borrowing of the equivalent of a capital sum of 100 million European units of account of this amount may not, however, be undertaken until the adoption of a further decision relating to the purpose for which such borrowing may be used.

Article 2

The product of borrowings of the equivalent of a capital sum of 400 million European units of account shall be used for loans to finance investment projects which are carried out on Community territory and which are consistent with priority Community objectives in the infrastructure and energy sectors.

For this purpose: - infrastructure investment shall cover in particular transport, telecommunications, agricultural improvements, water supply works, environmental protection,

- energy investment shall contribute to greater self-sufficiency, security and diversification of Community energy supplies ; investment shall ensure the development, exploitation, transportation and storage of energy resources ; particular attention shall be paid to energy conservation and to the development of alternative energy sources.

Article 3

The Commission shall decide whether or not projects are eligible in accordance with the guidelines laid down in Article 3 of Decision 79/486/EEC.

Done at Brussels, 22 July 1980.

For the Council

The President

G. THORN (1)OJ No L 298, 25.10.1978, p. 9. (2)OJ No C 54, 4.3.1980, p. 4. (3)OJ No C 85, 8.4.1980, p. 44. (4)OJ No L 125, 22.5.1979, p. 16.