council decis octob empow commiss contract loan purpos promot invest commun eec council european commun regard treati establish european econom commun articl thereof regard propos commiss regard opinion european parliament regard opinion econom social committe econom activ employ invest commun unevenli distribut low order stimul econom upturn support common polici financi mechan design make addit contribut invest promot commun ad exist commun mechan alongsid exist commun financi institut bodi scope widen commun action end real follow effect financi impact appar size commun action aim realiz invest project contribut greater converg integr econom polici member state line prioriti commun object plenti financ found capit market tap financ invest commun commun creditworthi advantag reinforc european support invest support polici decid commun level borrow equival million eua princip present circumst help achiev desir result financi mechan introduc experiment basi european invest bank state contribut implement decis decid articl commiss empow contract loan behalf european econom commun exce equival million eua princip proce loan lent financ invest project contribut greater converg integr econom polici member state project attain prioriti commun object energi industri oj opinion deliv april publish offici journal infrastructur sector take account inter alia region impact project combat unemploy mechan conjunct commun financ instrument articl loan activ tranch tranch council act unanim propos commiss consult european parliament author tranch lai guidelin elig project commiss decid project elig accord guidelin laid council commiss borrow capit market limit tranch author singl borrow financ loan object articl borrow lend transact express currenc lend term reimburs princip rate payment interest fix cover cost expens 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 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 amount loan reach equival million eua year adopt decis whichev earlier commiss submit report council european parliament experi gain oper decis financi control audit commiss account carri accord financi regul applic gener budget european commun articl purpos decis european unit account eua defin financi regul applic gener budget european commun luxembourg octob council presid matthöfer