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(Arbitration clause — Electricity Transmission Project Loan Agreement No 20868 — Non-performance of the agreement — Repayment of the sums advanced — Default interest — Procedure by default)
European Investment Bank (EIB), represented initially by P. Chamberlain, T. Gilliams, F. Oxangoiti Briones and J. Shirran, and subsequently by F. Oxangoiti Briones, J. Klein and J. Shirran, acting as Agents, and D. Arts, lawyer, and T. Cusworth, Solicitor,
ACTION pursuant to Article 272 TFEU, seeking an order that the Syrian Arab Republic repay sums due under Electricity Transmission Project Loan Agreement No 20868, plus default interest,
composed of G. Berardis, President, D. Spielmann and Z. Csehi (Rapporteur), Judges,
Under Articles 1.01, 1.02 and 1.04 of the loan agreement, the EIB granted the Syrian Arab Republic a loan of 75 000 000 European Currency Units to be drawn down in several tranches on request. By virtue of Article 4.01 of that agreement, the Syrian Arab Republic was to repay the loan in semi-annual instalments.
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