5.12.98 Official Journal of the European Communities L 329/23 (Acts whose publication is not obligatory) COMMISSION COMMISSION DECISION of 1 July 1998 concerning the Spanish Plan Renove Industrial system of aid for the purchase of commercial vehicles (August 1994 — December 1996) (notified under document number C(1998) 2048) (Only the Spanish text is authentic) (Text with EEA relevance) (98/693/EC) THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Community, and in particular the first subparagraph of Atrticle 93(2) thereof, Having given notice to the parties concerned to submit their comments, in accordance with the abovementioned Article (), Whereas: I On 9 February 1995 the Commission sent a request, followed by a reminder sent on 4 April 1995, for informa- tion on a matter of which it had been made aware by the press, namely a system of aid for the purchase of commercial vehicles. The system forms part of the Plan Renove Industrial and is designed to assist natural persons, small and medium-sized enterprises (SMEs), regional public bodies and bodies providing local public services. It involves the granting of loans for the purchase of commercial vehicles and its purpose is to renew the commercial vehicle fleet in Spain. Not until 7 April 1995 did the Directorate-General for Transport receive a reply from the Spanish authorities, dated 6 March 1995. A further request for information, dated 6 July 1995, was answered by the Spanish authorities on 26 July 1995. () OJ C 266, 13. 9. 199, p. 10. Finally, on 20 February 1996, the Commission asked for further details. These were received in a letter dated 14 March 1996, receipt of which was recorded on 18 March 1996. The system was set up under an Agreement, concluded on 27 September 1994 between the Official Credit Insti- tute (Instituto de Crédito Oficial: ICO) and the Spanish Ministry of Industry and Energy, whereby the ICO is responsible for arranging mediation contracts with the financial institutions. Under these contracts, the financial institutions implement the aid scheme and are subse- quently compensated by the ICO. The aid consists of a subsidy of up to five percentage points of the interest payable on the loans granted for purchasing vehicles or for leasing them with intention to purchase. These loans may cover as much as 70 % of the total value of the new vehicle (excluding VAT) and last for four years, with no grace period, the loan guarantees being negotiated between the recipient and the financial institu- tion. The initial budget was for roughly ESP 9 billion (ECU 53,8 million) (%, given that the credit line opened with the ICO was ESP 100 billion (ECU 598,1 million) and that the maximum subsidy was ESP 93 196 (ECU 557) per (> Exchange rate of 11 May 1998: 1 ECU = ESP 167,182.