Council Implementing Decision of 11 October 2011 amending Implementing Decision 2011/77/EU on granting Union financial assistance to Ireland (2011/682/EU) (c. 682)

Article 1

Article 1 of Implementing Decision 2011/77/EU is amended as follows:

(1)

paragraph 1 is replaced by the following:

‘1. The Union shall make available to Ireland a loan amounting to a maximum of EUR 22,5 billion, with a maximum average maturity of 12,5 years. The maturity of individual tranches of the loan facility may be of up to 30 years.’;

(2)

paragraph 5 is replaced by the following:

‘5. Ireland shall pay the cost of funding of the Union for each tranche.’.