إرشادات مقترحات البحث معلومات خط الزمن الفهارس الخرائط الصور الوثائق الأقسام

مقاتل من الصحراء

         



Article 20

In its loan and guarantee operations, the Bank shall observe the following principles:

1.

It shall ensure that its funds are employed as rationally as possible in the  interests of the Community.

It may grant loans or guarantees only:

a.

where, in the case of projects carried out by undertakings in the production  sector, interest and amortization payments are covered out of operating  profits or, in other cases, either by a commitment entered into by the State  in which the project is carried out or by some other means; and

b.

where the execution of the project contributes to an increase in economic  productivity in general and promotes the attainment of the common market.

2.

It shall neither acquire any interest in an undertaking nor assume any  responsibility in its management unless this is required to safeguard the rights  of the Bank in ensuring recovery of funds lent.

3.

It may dispose of its claims on the capital market and may, to this end, require  its debtors to issue bonds or other securities.

4.

Neither the Bank nor the Member States shall impose conditions requiring funds  lent by the Bank to be spent within a specified Member State.

5.

The Bank may make its loans conditional on international invitations to tender  being arranged.

6.

The Bank shall not finance, in whole or in part, any project opposed by the  Member State in whose territory it is to be carried out.

Article 21

1. Applications for loans or guarantees may be made to the Bank either through the  Commission or through the Member State in whose territory the project will be  carried out. An undertaking may also apply direct to the Bank for a loan or  guarantee.

2. Applications made through the Commission shall be submitted for an opinion to  the Member State in whose territory the project will be carried out. Applications  made through a Member State shall be submitted to the Commission for an opinion.  Applications made direct by an undertaking shall be submitted to the Member State  concerned and to the Commission.

The Member State concerned and the Commission shall deliver their opinions  within two months. If no reply is received within this period, the Bank may assume  that there is no objection to the project in question.

3. The Board of Directors shall rule on applications for loans or guarantees  submitted to it by the Management Committee.

<188>


1/1/1900