Article 8

The Bank shall submit projects concerning risk-capital operations to the Committee provided for in Article 9 for its opinion. The representative of the Commission shall convey to the Committee the Commission's position on the project concerned and in particular on its conformity with the objectives of the Protocol concluded with the country concerned and with the general guidelines adopted by the Council.

On the basis of that consultation, the Bank shall forward the project to the Commission.

The Commission shall take the financing decision within a period appropriate to the characteristics of the project.

The Commission shall forward the decision referred to in paragraph 3 to the Bank, which shall take the appropriate measures.