No L 89/28 Official Journal of the European Communities 21. 4. 95 (Acts whose publication is not obligatory) COUNCIL COUNCIL DECISION of 10 April 1995 providing macro-financial assistance for Belarus (95/132/EC) 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 (') submitted after consulting the Monetary Committee, Having regard to the Opinion of the European Par- liament (3, Whereas Belarus is undertaking fundamental political and economic reforms and is making substantial efforts to implement a market economy model; Whereas Belarus, the European Communities and their Member States have negotiated a Partnership and Coope- ration Agreement which will help the development of a full cooperation relationship ; Whereas Belarus agreed with the International Monetary Fund (IMF) in 1993 on a first set of stabilization and policy reform measures to be supported by a purchase under the IMF's Systematic Transformation Facility (STF) ; whereas the IMF Board approved the release of the first STF instalment in 1993 ; whereas the Belarussian authorities adopted in Autumn 1994 an ambitious stabili- zation and structural reform programme; whereas the IMF Board approved in January 1995 the release of the second STF instalment and whereas Belarus and the IMF have reached an understanding on the support of this programme by a Stand-by Arrangement; (") OJ No C 82, 4. 4. 1995. () Opinion delivered on 17 March 1995 (not yet published in the Official Journal). Whereas the authorities of Belarus have requested finan- cial assistance from the international financial institu- tions, the Community and other bilateral donors; whereas, over and above debt restructuring arrangements and the estimated financing which could be provided by the IMF and the World Bank, a residual financing gap of some US$ 250 million during the programme period remains to be covered ; Whereas the Belarussian authorities have committed themselves to fully and timely service their external finan- cial obligations towards the Community ; Whereas a Community long-term loan to Belarus is an appropriate measure to help easing the countries’ external financial constraints and support the policy objectives attached to the government’s reform effort ; Whereas the Community loan should be managed by the Commission ; Whereas the Treaty does not provide, for the adoption of this Decision, powers other than those of Article 235, HAS DECIDED AS FOLLOWS: Anrticle 1 1. 'The Community shall make available to Belarus a long-term loan facility of a maximum principal amount of ECU 75 million with a maximum maturity of ten years, with a view to ensuring a sustainable balance-of- payments situation and strengthening the country’s reserve position. ‘