++++

ANNEX XXXI

COMMUNITY DECLARATION ON ARTICLE 95 OF THE CONVENTION

1 . THE COMMUNITY GIVES AN UNDERTAKING THAT THE OPERATING COSTS OF THE COMMISSION DELEGATIONS IN THE ACP STATES , WHICH WERE PREVIOUSLY CHARGED TO THE BUDGET OF THE EUROPEAN DEVELOPMENT FUND , SHALL BE COVERED , FROM THE DATE OF ENTRY INTO FORCE OF THIS CONVENTION , BY THE GENERAL BUDGET OF THE EUROPEAN COMMUNITIES .

THE ESTIMATED COST OF THE DELEGATIONS UNDER THE NEW CONVENTION IS 180 MILLION EUA .

2 . THE MAXIMUM AMOUNT OF EUROPEAN INVESTMENT BANK OPERATIONS FINANCED FROM ITS OWN RESOURCES IS LAID DOWN IN ARTICLE 95 ( 2 ) OF THE CONVENTION .

HOWEVER , ADDITIONAL OPERATIONS BY THE BANK FINANCED FROM ITS OWN RESOURCES MAY , IN ACCORDANCE WITH ARTICLE 59 , BE USED FOR FINANCING MINING INVESTMENT PROJECTS AND ENERGY INVESTMENT PROJECTS WHICH ARE OF MUTUAL INTEREST TO THE COMMUNITY AND TO THE ACP STATES CONCERNED .

THESE ADDITIONAL OPERATIONS , UNDER ARTICLE 18 OF THE STATUTE OF THE BANK , WILL REQUIRE THE AUTHORIZATION OF THE BOARD OF GOVERNORS OF THE BANK , PURSUANT TO THE SECOND SUBPARAGRAPH OF ARTICLE 18 ( 1 ) OF THIS STATUTE .

IT IS THE PARTIES' INTENTION THAT THIS ADDITIONAL FINANCING SHOULD AMOUNT TO 200 MILLION EUA DURING THE PERIOD OF APPLICATION OF THE CONVENTION .

3 . THEREFORE , THE OVERALL AMOUNT OF FINANCIAL ASSISTANCE THAT THE EUROPEAN ECONOMIC COMMUNITY WILL ENDEAVOUR TO MAKE AVAILABLE TO ACP STATES WILL BE 5 607 MILLION EUA .

INASMUCH AS THE AMOUNT OF 180 MILLION EUA MENTIONED IN THE SECOND SUBPARAGRAPH OF PARAGRAPH 1 OF THE EXISTING DECLARATION WILL NOT HAVE BEEN ENTIRELY SPENT TO COVER THE COSTS OF THE DELEGATIONS , THE UNEXPENDED BALANCE WILL BE EARMARKED FOR EUROPEAN ECONOMIC COMMUNITY FINANCIAL AID TO THE ACP STATES .