council decis novemb provid supplementari macro financi assist bulgaria ec council european union regard treati establish european commun articl thereof regard propos commiss regard opinion european parliament commiss consult econom financi committe submit propos bulgaria undertak fundament econom reform make substanti effort establish function market economi view increas employ live standard bulgaria european union sign europ agreement establish relationship associ european council meet luxembourg decemb decid launch access process compris bulgaria central east european applic countri cypru bulgaria reach agreement intern monetari fund imf septemb arrang extend fund facil eff support author adjust reform programm world bank adopt year countri assist strategi bulgaria april envisag substanti adjust invest financ support bulgaria reform effort prioriti area author bulgaria request financi assist intern financi institut commun bilater donor estim financ provid imf world bank import residu financ gap remain cover programm period order strengthen countri reserv posit support polici object attach govern reform programm commun long term loan bulgaria measur eas countri extern financi constraint support balanc payment strengthen reserv posit comfort implement structur reform commun loan manag commiss accord principl sound financi manag treati provid adopt decis power articl decid articl commun make bulgaria long term loan facil maximum princip amount eur million maximum matur year view ensur sustain balanc payment situat end commiss empow borrow behalf european commun resourc dispos bulgaria form loan loan manag commiss close consult econom financi committe manner consist agreement reach imf bulgaria articl commiss empow agre author bulgaria consult econom financi committe econom polici condit attach loan condit consist agreement refer articl commiss verifi regular interv collabor econom financi committe coordin imf econom polici bulgaria accord object loan condit fulfil articl loan made bulgaria instal subject articl instal releas basi satisfactori track record bulgaria macro econom programm context present eff arrang agre imf subject articl instal releas basi satisfactori continu bulgaria adjust reform programm month releas instal fund paid bulgarian nation bank articl borrow lend oper refer articl carri date involv commun transform matur exchang interest rate risk commerci risk commiss step bulgaria request ensur earli repay claus includ loan term condit exercis request bulgaria circumst permit improv interest rate loan commiss refin part initi borrow restructur financi condit refinanc restructur oper carri accord condit set paragaraph effect extend averag matur borrow concern increas amount express current exchang rate capit outstand date refinanc restructur relat cost incur commun conclud carri oper decis born bulgaria econom financi committe inform develop oper refer paragraph year articl year rule septemb commiss address european parliament council report includ evalu implement decis brussel novemb council presid niinistö oj opinion deliv octob publish offici journal oj