No L 112/26 Official Journal of the European Communities 28. 4. 83 (Acts whose publication is not obligatory) COUNCIL COUNCIL DECISION of 19 April 1983 empowering the Commission to contract loans under the new Community instrument for the purpose of promoting investment within the Community (83/200/EEC) THE COUNCIL OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Economic Community, and in particular Article 235 thereof, Having regard to the proposal from the Commis- sion ('), Having regard to the opinion of the European Parliament (%), Having regard to the opinion of the Economic and Social Committee (3), Whereas, given the vital role of investment in raising growth rates, adjusting production structures and providing a lasting solution to the unemployment problem, the Community’s lending instruments should be strengthened to support investment, especi- ally in the growth sectors of the future; Whereas, in order to stimulate economic activity and support common policies, the financing facility of the new Community instrument established by Decisions 78/870/EEC (¥) and 82/169/EEC () empowering the Commission to contract loans for the purpose of promoting investment within the Community should be pursued and strengthened alongside existing Community financial institutions and bodies, the scope of which should be widened ; () OJ No C 28, 3. 2. 1983, p. 14. () OJ No C 13, 17. 1. 1983, p. 92. () OJ No C 77, 21. 3. 1983, p. 11. () OJ No L 298, 25. 10. 1978, p. 9. () O] No L 78, 24. 3. 1982, p. 19. Whereas this Community facility makes an additional contribution to investment promotion in the Commu- nity and has a real follow-through effect and financial impact far beyond its apparent size, thus promoting the convergence of Member States’ economic trends ; Whereas plentiful finance can be found on the capital markets which could be tapped to finance investments within the Community ; Whereas the Community has creditworthiness in its own right which must be used to best advantage to reinforce European support for the said investments and to support policies decided on at Community level ; Whereas the European Investment Bank has stated that it is willing to contribute to the implementation of the facility, HAS DECIDED AS FOLLOWS: Article 1 The Commission shall be empowered to contract loans on behalf of the European Economic Commu- nity under the new Community instrument which shall not exceed the equivalent of 3 000 000 000 ECU in principal. The proceeds of these loans shall be lent to finance investment projects which contribute to greater convergence and integration of the economic policies and of the Member States and, through the dissemina- tion of new technology and innovation or by other means, to reinforcing the competitiveness of the Community economy.