25.4.2007 Official Journal of the European Union L 107/5 II (Acts adopted under the EC Treaty/Euratom Treaty whose publication is not obligatory) DECISIONS COUNCIL COUNCIL DECISION of 19 April 2007 on the Community participation in the capital increase of the European Investment Fund (2007/247EC) THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty establishing the European Community, Having regard to Council Decision 94/375/EC of 6 June 1994 on Community membership of the European Investment Fund (!), and in particular Article 3 thereof, Having regard to the proposal from the Commission, Having regard to the opinion of the European Parliament (3), Whereas: (1) The authorised capital of the European Investment Fund (the Fund) was set at the time of its establishment at EUR 2 billion, divided into 2 000 shares each with a nominal value of EUR 1 million. In accordance with Article 7(1) of the Statutes of the European Investment Fund (%) (the Statutes), the subscribed capital is to be paid-in at a rate of 20 %. (2)  Pursuant to Decision 94/375/EC, the Community, repre- sented by the Commission, subscribed for 600 shares of the Fund for a nominal value of EUR 600 million, of which EUR 120 million are paid-in. () O] L 173, 7.7.1994, p. 12. (%) Opinion delivered on 29 March 2007 (not yet published in the Official Journal). () OJ L 173, 7.7.1994, p. 1. Statutes as amended on 19 June 2000 by the General Meeting of the European Investment Fund (O] C 225, 10.8.2001, p. 2). G) The guarantee and venture capital operations of the Fund may not exceed the ceilings set by Article 26 of the Statutes or by the General Meeting of the Fund. The ceilings depend on the size of the Fund’s capital and own resources. As the Fund is expected to exhaust its own resources by mid-2007 and will therefore be unable to continue its own resources operations, the Board of Directors has proposed to increase by 50 % the Fund’s authorised capital in nominal terms. The ECOFIN Council of 14 March 2006 adopted a report on the proposals put forward by the European Investment Bank Group (the EIB Group) for reinforcing the contribution by the EIB Group to promoting growth and employment in the European Union, which includes the proposal for a capital increase of the Fund. The European Council of 23-24 March 2006 welcomed the EIB Group contribution and invited the relevant actors to take the necessary follow-up steps, taking into account the final agreement on the Financial Framework 2007 to 2013. The Community subscription for the new shares would support the implementation of the Lisbon strategy and help achieve the Community’s objectives in the field of small and medium-sized enterprises, job creation, inno- vation, research and development, cohesion and regional policy and enlargement. A budget allocation of EUR 100 million for the capital increase of the Fund is consistent with the final agreement on the Financial Framework 2007 to 2013.