council decis march empow commiss contract loan purpos promot invest commun eec council european commun regard treati establish european econom commun articl thereof regard propos commiss opinion european parliament regard opinion econom social committe account distribut insuffici level econom activ employ invest commun order stimul econom activ support common polici financ scheme set council decis eec octob empow commiss contract loan purpos promot invest commun view make addit contribut invest promot commun pursu alongsid exist commun financi institut bodi scope widen commun action end real follow effect financi impact appar size promot converg member state econom trend plenti financ found capit market tap financ invest commun commun credit worthi advantag reinforc european support invest support polici decid commun level european invest bank state contribut implement scheme decid articl commiss empow contract loan behalf european econom commun exce equival million ecu princip proce loan lent financ invest project contribut greater converg integr econom polici member state project serv commun prioriti object energi industri infrastructur sector take account inter alia region impact project combat unemploy mechan conjunct commun financ instrument articl loan activ tranch council act unanim propos commiss consult european parliament author tranch lai guidelin elig project commiss decid project elig accord guidelin laid commiss borrow capit market limit tranch author singl borrow financ loan object articl connect borrow lend transact express monetari unit lend term reimburs princip rate payment interest fix cover cost expens incur conclud perform borrow lend side transact articl term loan contract negoti commiss interest commun regard condit capit market accord constraint impos durat financi aspect loan grant fund borrow deposit european invest bank invest temporari basi loan express payabl reimburs currenc member state conclud agreement compet author state articl mandat bank grant loan pursuanc decis bank carri transact mandat behalf risk commun loan request forward bank directli commiss member state commiss decis elig project pursuant articl bank accord procedur laid statut usual criteria examin request decid term grant loan administ mandat bank embodi cooper agreement commiss bank articl commiss annual inform council european parliament receipt expens result borrow lend transact year submit review borrow lend polici budget estim light inform council carri assess gener oper mechan set decis articl financi control audit commiss account carri accord financi regul applic gener budget european commun brussel march council presid de clercq oj oj oj oj