Article 5
A mandate shall be given to the Bank to grant and administer loans in pursuance of this Decision. To this end, a cooperation agreement shall be drawn up between the Bank and the Commission. The Bank shall carry out transactions under this mandate on behalf of, for and at the risk of the Community. The Commission shall decide, in accordance with Article 2, whether projects are eligible. Where the Commission gives a favourable decision, the Bank shall decide whether and on what terms to grant the loans, in accordance with its usual criteria and with the procedures laid down in its statute. Loan procedure as provided for in this Decision shall be as follows: - loan applications shall be transmitted simultaneously to the Commission and to the Bank either directly or through a Member State, - the Commission and the Bank shall sign the loan contracts.