council decis june relat except commun aid reconstruct area stricken cyclon hit madeira octob ec council european union regard treati establish european commun articl thereof regard propos commiss regard opinion european parliament live area madeira affect cyclon octob step except situat offset consequ disast econom social person affect european invest bank grant loan resourc achiev object interest subsidi chargeabl gener budget european commun provid loan similar measur adopt natur disast occur itali greec treati provid adopt decis power articl decid articl commun provid interest rate subsidi chargeabl budget european commun percentag point annum maximum period twelv year loan grant european invest bank eib resourc accord usual criteria financ invest region devast cyclon hit madeira octob total amount subsid loan exce equival ecu million princip loan direct project carri reconstruct reorgan stricken area infrastructur work secondarili hous loan approv eib basi project put forward portugues author articl detail arrang implement decis laid cooper agreement commiss eib agreement set detail rule payment interest rate subsidi articl commiss present european parliament council close cooper eib decemb report evalu implement decis addit effect produc interest subsidi articl decis effect date adopt luxembourg june council presid barrot