No L 86/10 Official Journal of the European Communities 20. 4. 95 COUNCIL REGULATION (EC) No 852/95 of 10 April 1995 on the grant of financial assistance to Portugal for a specific programme for the modernization of the Portuguese textile and clothing industry THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty establishing the European Community, and in particular the last paragraph of Article 130b thereof, Having regard to the proposal from the Commission (), Having regard to the opinion of the European Par- liament (3), Having regard to the opinion of the Economic and Social Committee (%), Having regard to the opinion of the Committee of the Regions (%), Whereas Community action to achieve economic and social cohesion must be taken in compliance with the rules of free competition ; whereas this programme is an exceptional measure and Community assistance must accordingly be limited to the necessary measures to enable the Portuguese textile industry to adapt to the new requirements of the international situation ; Whereas the Portuguese textile and clothing industry, which accounts for a third of the jobs in Portuguese industry and a third of the country’s industrial exports. is highly vulnerable in the face of the increase in interna- tional competition resulting from the GATT agreements ; whereas the implications thereof in this sector, which is of importance to the economic fabric of some Portuguese regions, might jeopardize the economic and social cohe- sion of the Community; Whereas on 15 December 1993 the Council approved the Commission’s intention to allocate ECU 400 million to the modernization of the Portuguese textile and clothing industry ; Whereas provision should be made for the possibility of interest subsidies for loans granted by the European Investment Bank or other financial bodies with a view to achieving the objectives of the specific programme ; Whereas the Commission has published in the Official Journal of the European Communities Notice 94/C 180/04 to the Member States laying down guidelines for the initiative concerning the modernization of the Portu- guese textile and clothing industry () ; Whereas the budgetary authority has agreed to enter the financing for this programme in one of the chapters of the budget covered by Section 3 of the Financial Perspec- () OJ No C 373, 29. 12. 199%. () Opinion delivered on 17 March 1995 {not yet published in the Official Journal). (*) Opinion delivered on 22 February 1995 (not yet published in the Official Journal). () Opinion delivered on 1 February 1995. () OJ No C 180, 1. 7. 1994, p. 15. tive annexed to the Interinstitutional Agreement of 29 October 1993 on budgetary discipline and improve- - ment of the budgetary procedure (%); Whereas a financial reference amount, within the meaning of point 2 of the Declaration of the European Parliament, the Council and the Commission of 6 March 1995 is inserted in this Regulation for the whole duration of the programme without affecting the powers of the budget authority defined in the Treaty; Whereas the provisions governing the use of these resources should be determined; Whereas, in order to simplify the administration of these resources, which should be entrusted to the Commission, and to ensure consistency with the Community’s other structural measures, the Commission should apply by analogy the appropriate provisions governing the Struc- tural Funds, in  particular Regulations (EEC) No 2052/88(), (EEC) No 4253/88(), (EEC) No 4254/88(°), (EEC) No 4255/88("), and (EEC) No 1866/90 ('), HAS ADOPTED THIS REGULATION : Article 1 A specific programme for the modernization of the Portu- guese textile and clothing industry (the ‘programme’) is hereby instituted for the period 1995 to 1999 in order to facilitate its adaptation to increasing international compe- tition. Article 2 The eligible measures, the conditions for granting Community assistance and the implementing provisions shall be those set out in the Annex hereto. () OJ No C 331, 7. 12. 1993, p. 1 () OJ No L 185, 15. 7. 1988, p. 9. Regulation as amended by Regulatlon (EEC) No 2081/93 (OJ No L 193, 31. 7. 1993, p. * Oj No L 374, 31. 12. 1988, p. 1. Regulation as amended by Regulation (EEC) No 2082/93 (OJ No L 193, 31. 7. 1993, p. 20). ) O_] No L 374, 31. 12. 1988, p. 15. Regulation as amended by Regulation (EEC) No 2083/93 (OJ No L 193, 31. 7. 1993, p. 34). (') O] No L 374, 31. 12. 1988, p. 21. Regulation as amended by Regulation (EEC) No 2084/93 (O] No L 193, 31. 7. 1993, p. 39). (") OJ No L 170, 3. 7. 1990, p. 36. Regulation as amended by Regulation (EC) No 2745/94 (O] No L 290, 11. 11. 1994, p- 4).