14. 8. 96 Official Journal of the European Communities No L 204/1 (Acts whose publication is obligatory) COUNCIL REGULATION (EC) No 1628/96 of 25 July 1996 relating to aid for Bosnia and Herzegovina, Croatia, the Federal Republic of Yugoslavia and the former Yugoslav Republic of Macedonia THE 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 Commission ('), Having regard to the opinion of the European Par- liament (%), Whereas economic development, the restoration of civil society and cooperation between the Republics of former Yugoslavia in accordance with the regional approach as defined by the Council are a perequisite for peace and stability in the Balkans; Whereas it is appropriate to start repair work and renovate infrastructure whilst pressing ahead with political and economic reforms; Whereas the Community has decided to contribute to these operations under the conditions indicated by the Council; Whereas it intends to make its support contingent on adherence to the political and economic terms of the peace agreements signed in Paris on 14 December 1995, notably respect for human rights; Whereas, in order to foster reconciliation between the various parties and prevent any resurgence of fighting, special attention should be allocated to operations aimed at achieving economic and social objectives, in particular employment, the restoration of civil society and the return and reintegration of refugees and displaced persons; Whereas a multiannual approach until 31 December 1999 should be adopted to enable the measures provided for in () OJ No C 179, 22. 6. 1996, p. 5. () Opinion delivered on 19 July 96 (not yet published in the Official Journal). this Regulation to be managed efficiently and medium- term operations to be undertaken; Whereas, as regards European Community aid, maximum transparency must be ensured in the implementation of financial assistance, and stringent controls must be applied to the use of appropriations; 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 entire dura- tion of the programme, without thereby affecting the powers of the budgetary authority as they are defined by the Treaty; Whereas implementation of the operations envisaged will help achieve the Community’s objectives; whereas the Treaty does not provide, for the adoption of this Regula- tion, powers other than those set out in Article 23§, HAS ADOPTED THIS REGULATION: Article 1 The Community shall implement aid measures in accor- dance with the specific conditions set by the Council, including projects, programmes and cooperation schemes for reconstruction, return of refugees and displaced persons and for economic and regional cooperation in Bosnia and Herzegovina, Croatia, the Federal Republic of Yugoslavia and the former Yugoslav Republic of Mace- donia in line with the criteria set out in this Regulation. The financial reference amount for implementation of this Regulation for the period from 1996 to 1999 shall be ECU 400 million. The annual appropriations shall be authorized by the budgetary authority within the limits of the financial perspective. Community funding under this Regulation shall take the form of grants.