Council Regulation (EC) No 1488/96 of 23 July 1996 on financial and technical measures to accompany (MEDA) the reform of economic and social structures in the framework of the Euro-Mediterranean partnership
Modified by
Council Regulation (EC) No 1103/97of 17 June 1997on certain provisions relating to the introduction of the euro, 397R1103, June 19, 1997
Council Regulation (EC) No 780/98 of 7 April 1998, 398R0780, April 15, 1998
Council Regulation (EC) No 2698/2000of 27 November 2000amending Regulation (EC) No 1488/96 on financial and technical measures to accompany (MEDA) the reform of economic and social structures in the framework of the Euro-Mediterranean partnership, 300R2698, December 12, 2000
Council Regulation (EC) No 2112/2005of 21 November 2005on access to Community external assistance, 305R2112, December 27, 2005
Corrected by
Corrigendum, OJ No L 187, 1. 7. 1998, p. 56 (1488/96), 396R1488R(02), July 1, 1998
Council Regulation (EC) No 1488/96of 23 July 1996on financial and technical measures to accompany (MEDA) the reform of economic and social structures in the framework of the Euro-Mediterranean partnershipTHE COUNCIL OF THE EUROPEAN UNION,Having regard to the Treaty establishing the European Community, and in particular Article 235 thereof,Having regard to the proposal from the CommissionOJ No C 232, 6. 9. 1995, p. 5 andOJ No C 150, 24. 5. 1996, p. 15.,Having regard to the opinion of the European ParliamentOJ No C 17, 22. 1. 1996, p. 184 and Opinion delivered on 20 June 1996 (OJ No C 198, 8. 7. 1996).,Whereas the European Council at its meetings in Lisbon, Corfu and Essen stressed that the Mediterranean constitutes a priority area for the European Union and adopted the aim of establishing a Euro-Mediterranean partnership;Whereas the Cannes European Council meeting on 26 and 27 June 1995 reaffirmed the strategic importance it attached to adding a new dimension to the European Union's relations with its Mediterranean partners by building on the Council report of 12 June 1995 prepared on the basis, in particular, of the Commission communications of 19 October 1994 and 8 March 1995 on strengthening the Mediterranean policy of the European Union;Whereas it is necessary to pursue efforts to ensure that the Mediterranean becomes an area of political stability and security and whereas the Community's Mediterranean policy must play a part in achieving the general objective of the development and strengthening of democracy and the rule of law, as well as in achieving the objective of respect of human rights and fundamental freedoms and of the promotion of good-neighbourly relations, while respecting international law and theterritorial integrity and external frontiers of the Member States and Mediterranean non-member countries.Whereas the ultimate establishment of a Euro-Mediterranean free-trade area is likely to foster stability and prosperity in the Mediterranean region;Whereas for the Mediterranean partners the establishment of a free-trade area may involve profound structural reforms;Whereas it is therefore necessary to support the efforts that have been or will be undertaken by the Mediterranean partners to reform their economic, social and administrative structures;Whereas the dialogue between cultures and between civil societies should be developed, notably by encouraging training activities, development and decentralized cooperation;Whereas intensified regional cooperation and in particular the development of economic links and trade flows between Mediterranean territories and partners which are conducive to reform and economic restructuring should be encouraged;Whereas the bilateral protocols on financial and technical cooperation concluded by the Community with Mediterranean partners provided a useful initial basis for cooperation; whereas it is now necessary to build on the experience which has been acquired and to embark on a new stage of relations, in the framework of partnership;Whereas rules for the administration of such partnership have to be determined, while ensuring the transparency and overall consistency of action undertaken using budget appropriations;Whereas to this end this Regulation will apply to the range of measures which came under Council Regulation (EEC) No 1762/92 of 29 June 1992 on the implementation of the protocols on financial and technical cooperation concluded by the Community with Mediterranean non-member countriesOJ No L 181, 1. 7. 1992, p. 1. and Council Regulation (EEC) No 1763/92 of 29 June 1992 concerning financial cooperation in respect of all Mediterranean non-member countriesOJ No L 181, 1. 7. 1992, p. 5. for measures whose scope extended beyond the scope of a single country;Whereas, therefore, this Regulation replaces the abovementioned Regulations as from 1 January 1997, while it is, however, necessary to maintain Regulation (EEC) No 1762/92 in force for the management of financial protocols still applicable at that date and for the commitment of funds remaining under the expired financial protocols;Whereas a financial reference amount, within the meaning of point 2 of the Declaration by the European Parliament, the Council and the Commission of 6 March 1995, is included in this Regulation for the period 1995 to 1999, without thereby affecting the powers of the budgetary authority as they are defined by the Treaty;Whereas in respect of environmental projects the loans granted by the European Investment Bank, hereinafter referred to as "the Bank", from its own resources under conditions laid down by it, in accordance with its Statute, may receive an interest-rate subsidy;Whereas in loan operations involving interest-rate subsidies, the granting of a loan by the Bank from its own resources and the granting of an interest-rate subsidy financed by the budgetary resources of the Community must be linked and are conditional on each other; whereas the Bank may, in accordance with its Statute and in particular by a unanimous decision of its Board of Directors in the presence of an unfavourable opinion by the Commission, decide to grant a loan from its own resources, subject to granting of the interest-rate subsidy; whereas, on account of this aspect, it is necessary to ensure that the procedure adopted for granting interest-rate subsidies results in every case in an express decision, whether to grant the subsidy or to refuse it, where appropriate;Whereas it is necessary to make provision for a Committee composed of representatives of the Member States to assist the Bank in the tasks attributed to it to implement this Regulation;Whereas to ensure effective management of the measures provided for in this Regulation and to facilitate relations with the beneficiary countries a multiannual approach is required;Whereas the measures under this Regulation go beyond the framework of development assistance and are intended to apply to countries only in part classifiable as developing countries; whereas, therefore, this Regulation cannot be adopted other than on the basis of the powers provided for in Article 235 of the Treaty,HAS ADOPTED THIS REGULATION: