EIB loans to Greece : reconstruction after the earthquake of September 1999, relieving the interest burden

PURPOSE: to propose a Council Decision on the granting of funds to Greece in order to relieve the interest burden on EIB loans for the reconstruction of the region which was devasted by the earthquake of September 1999. CONTENT: On 7th September 1999, an earthquake of 5.9 (Richter scale) struck the entire Attica region and in particular the suburbs to the west and north-west of Athens, causing severe casualties and heavy material damage to buildings and industrial production. Immediately after the earthquake, the Greek Prime Minister requested the EU's and the European Investment Bank's (EIB) maximum possible support. In reply, the EIB agreed to grant a loan to the Greek State. To date, part of this loan has already been disbursed. The already existing budget line B5-202 ("Annual funding of interest subsidies on special loans to Greece following the February and March 1981, September 1986 earthquakes") was amended by inserting "and 1999" to its title and forseeing reserves of 2MEURO for this purpose in 2000. If the European Parliament should forsee further funds to this budget line, the proposed Decision provides to prolong these supporting measures accordingly. In conclusion, the Council requests the Council for its decision on the proposal for a Council Decision. �