82/169/EEC: Council Decision of 15 March 1982 empowering… Article 2

Article 2

Loans shall be activated in tranches. The Council, acting unanimously on a proposal from the Commission, and after consulting the European Parliament, shall authorize each tranche and lay down the guidelines for the eligibility of projects. The Commission shall decide whether or not projects are eligible in accordance with the guidelines thus laid down. The Commission shall borrow on the capital markets within the limits of the tranches authorized. A single borrowing may be used to finance loans for different objectives.