93/166/EEC: Council Decision of 15 March 1993 granting a Community guarantee to the European Investment Bank against losses under loans for investment projects carried out in Estonia, Latvia and Lithuania

• Articles: 2

Article 1

The Community shall fully guarantee the European Investment Bank in case the Bank does not receive the payments due under any loan granted in accordance with its usual criteria for investment projects carried out in Estonia, Latvia and Lithuania. An overall limit of ECU 200 million shall be set for a three-year period.

To this end, the Bank and the Commission shall fix the terms on which the guarantee shall be given.

Article 2

Every six months the Commission shall inform the European Parliament and the Council as to the rhythm of take-up of loans under the guarantee. To this end, the European Investment Bank shall forward to the Commission all necessary details for the complete information of the European Parliament and the Council.

Once a year, the Commission shall submit to the European Parliament and the Council a report which will include an evaluation of the implementation of this Decision.

Done at Brussels, 15 March 1993.

For the Council The President M. JELVED