83/308/EEC: Council Decision of 13 June 1983 implementing Decision 83/200/EEC empowering the Commission to contract loans under the new Community instrument for the purpose of promoting investment within the Community

• CELEX: Decision 83/200/EEC
• Articles: 3

Article 1

An initial tranche of borrowings is hereby authorized for an amount which shall not exceed the equivalent of 1 500 million ECU, in principal.

Article 2

The proceeds of the borrowing referred to in Article 1 shall be lent to finance investment projects carried out on Community territory which help attain the Community's priority objectives in the energy and infrastructure sectors, and in the financing of investment, principally that of small and medium-sized undertakings, in industry and the other productive sectors.

Article 3

The Commission shall decide whether or not projects are eligible in accordance with the following guidelines and priorities:

- the rational use of energy, the replacement of oil by other sources of energy in all sectors and infrastructure projects facilitating such replacement,

- infrastructure projects which are associated with the development of productive activities, which contribute to regional development or which are of Community interest, such as telecommunications, including information technology and transport including the transmission of energy,

- investment projects, mainly those of small and medium-sized undertakings, in industry and the other productive sectors, which are designed in particular to promote the dissemination of innovation and new techniques and the implementation of which contributes directly or indirectly to the creation of jobs,

- the projects and their execution must comply with the provisions of the Treaty and of secondary legislation, in particular with those relating to competition, and Community rules and policies applicable in the fields in question.

Done at Luxembourg, 13 June 1983.

For the Council

The President

H. TIETMEYER

(1) OJ No L 112, 28. 4. 1983, p. 26.

(2) OJ No C 66, 11. 3. 1983, p. 6.

(3) OJ No C 161, 20. 6. 1983, p. 138.

(4) Opinion delivered on 2 June 1983 (not yet published in the Official Journal).