23. 12. 93 Official Journal of the European Communities No L 321/27 - (Acts whose publication is not obligdtory) COUNCIL COUNCIL DECISION of 13 December 1993 granting a Community guarantee to the European Investment Bank against losses under loans for projects in central and eastern European countries (Poland, Hungary, the Czech Republic, the Slovak Republic, Romania, Bulgaria, Estonia, Latvia, Lithuania and Albania) (93/696/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 (*), Having regard to the opinion of the European Parliament (%), : Whereas the peoples of central and eastern Europe have close ties and share a common destiny with the peoples of the Community; whereas these ties have been strengthened by the trade and cooperation agreements signed for an indefinite period; Whereas these countries (Poland, Hungary, the Czech Republic, the Slovak Republic, Romania, Buigaria, Estonia, Latvia, Lithuania and Albania) are undertaking major political and social reforms and have embarked on a fundamental restructuring of their economies ; whereas the Ministers of the Group of 24 (G-24) welcomed this at their meeting on 11 November 1991 and decided to extend G-24 coordinated economic assistance to them; Whereas these economic reforms will make a decisive contribution to the rapid establishment of mutually bene- ficial economic and commercial links between these countries and the Community ; Whereas, in particular, there is a great need for capital investment in these countries; whereas this investment () OJ No C 160, 12. 6. 1993, p. 8. () OJ No C 315, 22. 11. 1993. requires external finance; whereas the European Invest- ment Bank (hereinafter referred to as ‘the Bank’) could make an important contribution ; Whereas the Bank is completing an initial three-year loan programme for Poland and Hungary pursuant to Council Decision 90/62/EEC () and a two-year programme for the Czech and Slovak Republics, Bulgaria and Romania pursuant to Council Decision 91/252/EEC (¥, with en- couraging results according to the Bank’s report on this first phase ; whereas, pursuant to the Europe Agreements signed on 16 December 1991, these programmes should be renewed ; : Whereas similar provisions have been approved for the Baltic States ; whereas these measures should be extended to include Albania; Whereas the European Council meeting in Edinburgh on 12 December 1992 called on the Council and the Bank to create a new, temporary lending facility within the Bank to finance infrastructure projects, notably those relating to trans-European networks; whereas these networks may include projects involving central and eastern European countries in so far as such projects are of mutual interest ; Whereas, in future, the Bank’s activities in all these coun- tries must be accorded  uniform treatment within an overall framework ; () OJ No L 42, 16. 2. 1990, p. 68. () OJ No L 123, 18. 5. 1991, p. 44.