Article 1

The Community shall fully guarantee the European Investment Bank in cases where the Bank does not receive the payments due under any loan granted in accordance with its usual criteria to those third countries with which the Community has concluded cooperation agreements. An overall limit of ECU 250 million per year, shall be set for a three-year period. This limit shall be reviewed at the end of that period.

To this end the EIB and the Commission shall agree on the procedures for implementing the guarantee.