IC-ECIP 0 - European Communities Investment Partners financial instrument for countries of Latin America, Asia and the Mediterranean region
From 1992-01-01 to 1994-12-31| See all projects funded under this programme / topic
Successor programmeIC-ECIP 1
Official Journal ReferenceL 35 of 1992-02-12
Legislative Reference319/92/EEC of 1992-02-03
To operate special cooperation schemes aimed at promoting mutually beneficial investment by Community operators, particularly in the form of joint ventures with local operators in the eligible countries of Latin America, Asia and the Mediterranean region.
AbstractThe European Communities Investment Partners (ECIP) financial instrument was first launched as a three-year pilot scheme in 1988 to promote the creation of joint ventures between the European Community and the countries of Latin America, Asia and the Mediterranean region. The present programme ensured the extension of actions for a further three-year trial period (1992-95).
This trial phase has now been superseded by Council Regulation (EC) No 213/96 (Official Journal No L 28 of 6.2.1996) which establishes a five-year multiannual ECIP financial instrument. The new Regulation also extends the scope of the ECIP instrument to cover South Africa, in accordance with the conclusions of the General Affairs Council on 19 April 1994 concerning measures to encourage Community investment in South Africa.
SubdivisionNo details are available for this section.
ImplementationThe Commission was responsible for implementing the ECIP financial instrument assisted, depending on the region concerned, by the Committees set up under Regulation No 442/81 (financial and technical aid to non-associated developing countries) and Regulation No 3973/86 (application of the Protocols on financial and technical cooperation concluded between the Community and Algeria, Morocco, Tunisia, Egypt, Lebanon, Jordan, Syria, Malta and Cyprus).
The 1992-95 phase of the ECIP programme offered four types of financing facility covering:
- Grants for the identification of projects and partners, not exceeding 50% of the cost of the operation and up to a ceiling of ECU 100,000 (Facility No 1);
- Interest-free advances for feasibility studies and other actions by operators intending to set up joint ventures or investments, not exceeding 50% of the cost and up to a ceiling of ECU 250,000 (Facility No 2);
- Capital requirements of a joint venture or a local company with licensing agreements, in order to meet investment risks peculiar to developing countries, through participation in the provision of equity, or by equity loans not exceeding 20% of the joint venture's capital up to a ceiling of ECU 1 million (Facility No 3);
- Interest-free advances, not exceeding 50% of the cost up to a ceiling of ECU 250,000, for training, technical assistance or management expertise of an existing joint venture, or a joint venture about to be set up, or a local company with licensing agreements (Facility No 4).
For the period 1992-95, support under the ECIP instrument was open to the developing countries of Latin America, Asia and the Mediterranean region which had previously benefited from Community development cooperation measures or which have concluded regional or bilateral cooperation or association agreements with the Community. In general, only SMEs were eligible for support from the financial instrument. Certain exceptions were made, however, in cases deemed to have particular significance for development policy, for instance technology transfer.
Before 30 April each year, the Commission was required to draw up an annual progress report detailing the projects selected, the appropriations granted, repayments to the Community and annual statistics for the previous year. In addition, the results of an independent appraisal of the instrument were to be communicated to the European Parliament and the Council before 31 March 1994.
Record Number: 585 / Last updated on: 2014-03-05