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Wednesday, 31 March 2004 - Strasbourg Final edition
Guarantee Fund for external actions *

European Parliament legislative resolution on the proposal for a Council regulation amending Regulation (EC, Euratom) No 2728/94 establishing a Guarantee Fund for external actions (COM(2003) 604 – C5-0502/2003 – 2003/0233(CNS))

(Consultation procedure)

The European Parliament ,

–   having regard to the Commission proposal to the Council (COM(2003) 604)(1) ,

–   having regard to Article 308 of the EC Treaty, pursuant to which the Council consulted Parliament (C5-0502/2003),

–   having regard to Rule 67 of its Rules of Procedure,

–   having regard to the report of the Committee on Budgets and the opinion of the Committee on Foreign Affairs, Human Rights, Common Security and Defence Policy (A5-0199/2004),

1.  Approves the Commission proposal as amended;

2.  Calls on the Commission to alter its proposal accordingly, pursuant to Article 250(2) of the EC Treaty;

3.  Calls on the Council to notify Parliament if it intends to depart from the text approved by Parliament;

4.  Asks the Council to consult Parliament again if it intends to amend the Commission proposal substantially;

5.  Instructs its President to forward its position to the Council and the Commission.

Text proposed by the Commission   Amendments by Parliament
Amendment 1
RECITAL 3a (new)
(3a) Loans from the Euratom Guarantee Fund to third countries will in future, as hitherto, be granted only in accordance with Decision 94/179/Euratom 1 , which means that funds cannot be lent to a third country to finance new nuclear power stations but only for measures to increase the level of safety at existing nuclear power installations.
( 1 ) Council Decision 94/179/Euratom of 21 March 1994 amending Decision 77/270/Euratom, to authorize the Commission to contract Euratom borrowings in order to contribute to the financing required for improving the degree of safety and efficiency of nuclear power stations in certain non- member countries (OJ L 84, 29.3.1994, p. 41).
Amendment 2
RECITAL 5a (new)
(5a) The fact that EIB loans to the accession countries will no longer be covered by the Guarantee Fund will create an additional margin for lending to other countries and/or regions under Decision 2000/24/EC 1 .
( 1 ) Council Decision 2000/24/EC of 22 December 1999 granting a Community guarantee to the European Investment Bank against losses under loans for projects outside the Community (Central and Eastern Europe, Mediterranean countries, Latin America and Asia and the Republic of South Africa) (OJ L 9, 13.1.2000, p. 24).
Amendment 3
RECITAL 5b (new)
(5b) The additional margin, created as a result of accession, under the EIB lending mandate totals EUR 2 180 million. The Commission has brought forward a separate proposal for a Decision (COM(2003) 603) concerning the possible use of that amount.
Amendment 4
RECITAL 5c (new)
(5c) The amount paid into the Guarantee Fund, which corresponds to the loans no longer covered by it, totals approximately EUR 343 million and will flow back to the budget as revenue.
Amendment 5
Article 7 (Regulation (EC, Euratom) No 2728/94)
(3)  In Article 7, the date "31 March" shall be replaced by "30 June".
(3)  In Article 7, the date "31 March" shall be replaced by "31 May" .

(1) Not yet published in OJ.

Last updated: 12 October 2004Legal notice