EC/Turkey customs union: EIB special action programme

PURPOSE: to amend the general EIB external lending mandate. COMMUNITY MEASURE: Council Decision 2000/788/EC. CONTENT: The Decision seeks to amend Decision 2000/24/EC in order to create a new financial envelope worth MEUR 450. This financial instrument will support the establishment of a special EIB programme of action, in support of the consolidation and intensification of the EC-Turkey customs union. Moreover, it is subject to the usual EIB criteria, especially in relation to credit and risk credit. In light of the competitive situation in the Customs Union, the present facility should support the following: - investments supporting the competitiveness of industry in Turkey and in particular, the SME sector; - investments in infrastructure, covering transport, energy, and telecommunications; - investments supporting direct investment activities by EU companies in Turkey; - investments in technical installations facilitating the functioning of the customs union such as laboratories or standardisation facilities, where EIB loan finance is an appropriate instrument. The EIB's intervention under this Decision should be coherent with the other EIB facilities available in Turkey and support investments assisting the competitiveness of industry in Turkey, in particular the SME sector; investments in infrastructure, covering transport, energy and telecom improving the links between the EU and Turkish infrastructure, investments supporting direct investment activities by Community companies in Turkey. In conclusion, the provisions of the Decision are linked to respect for democratic principles, the rule of law, human rights and fundamental freedoms and respect for international law, which underpin the the policies of the European Community and its Member States. ENTRY INTO FORCE: 14.12.2000.�