COUNCIL DECISION of 25 November 1980 supplementing, as regards the application of part of the second tranche of loans, Decision 80/739/EEC applying for the second time Decision 78/870/EEC empowering the Commission to contract loans for the purpose of promoting investment within the Community (80/1103/EEC)

THE COUNCIL OF THE EUROPEAN COMMUNITIES,

Having regard to the Treaty establishing the European Economic Community,

Having regard to Council Decision 78/870/EEC of 16 October 1978 empowering the Commission to contract loans for the purpose of promoting investment within the Community (1), and in particular Article 2 thereof,

Having regard to the proposal from the Commission (2),

Having regard to the opinion of the European Parliament (3),

Whereas Decision 80/739/EEC (4), authorized a second tranche of borrowings for an amount not exceeding the equivalent of a capital sum of 500 million European units of account ; whereas that Decision defined the sectors to which the product of those borrowings might be applied only with respect to an amount equivalent to a capital sum of 400 million European units of account ; whereas, as regards the equivalent of a capital sum of 100 million European units of account, that Decision provided that it might not be borrowed until the adoption of a further decision relating to the purpose for which such borrowing might be used;

Whereas it is therefore necessary to take a decision on the application of that part of the second tranche;

Whereas for that purpose the same sectors should be covered as in Decision 80/739/EEC ; whereas it is therefore advisable, by way of exception, to permit the application of the borrowings in question also to loans intended for the financing of factories constructed with a view to future requirements and of housing, provided that they form part of a total project of economic and industrial development presenting a regional interest,

HAS DECIDED AS FOLLOWS:

Sole Article

The product of borrowings of an amount equivalent to a capital sum of 100 million European units of account shall be applied to loans intended for the financing of: - investment projects as defined in Article 2 of Decision 80/739/EEC,

- factories constructed with a view to future requirements and housing, provided that they form part of a total project of economic and industrial development presenting a regional interest.

Done at Brussels, 25 November 1980.

For the Council

The President

Colette FLESCH (1)OJ No L 298, 25.10.1978, p. 9. (2)OJ No C 54, 4.3.1980, p. 4. (3)OJ No C 85, 8.4.1980, p. 44. (4)OJ No L 205, 7.8.1980, p. 19.