less than 30 % of the amount of the loans granted to Turkey annually, may be made on the following terms:(a) a loan period and a redemption-free period determined by the Bank, subject to the limits laid down in paragraph 2, with a view to facilitating the servicing of loans by Turkey;(b) a rate of interest of not less than 4.5 % per annum.4. The loans referred to in the preceding paragraph may be granted through the intermediary of appropriate Turkish agencies.The choice of projects to be financed through these agencies and the terms on which loans by the Bank may be granted by the agency or agencies concerned to recipient undertakings, shall be subject to prior approval by the Bank.5. Repayments by recipient undertakings which are not immediately needed by the intermediary agencies for the redemption of loans from the Bank, shall be paid into a special account; the use of such amounts shall be subject to approval by the Bank.Article 61. All natural and legal persons who are nationals of Turkey or of Member States of the Community may participate on equal terms in tendering procedures, invitations to tender, transactions and contracts relating to projects for which loans have been granted.2. The loans may by used to cover expenditure on imports or domestic expenditure, where such expenditure is necessary for carrying out approved capital investment projects, including expenditure on planning, on the services of consulting engineers and on technical assistance.3. The Bank shall ensure that funds are used as judiciously as possible and in accordance with the objectives of the Agreement of Association.Article 7Turkey shall, for the whole period of a loan, make available to the recipients of the loan the currency necessary for the payment of interest and commission, and for the repayment of capital.Article 8Contributions under this Protocol for the execution of certain projects may take the form of participation in financing operations in which, in particular, third countries, international finance organisations or credit and development authorities and institutions in Turkey or of Member States of the Community may be concerned.Article 91. While this Protocol is in force the Community shall examine the possibility of supplementing the amount of the loans specified in Article 3 by loans granted by the European Investment Bank from its own ressources and on market terms and whose aggregate amount may total 25 million units of account.2. These loans would be used to finance projects showing a normal return which are to be carried out in Turkey by private undertakings.3. The Statute of the European Investment Bank and Articles 4, 7 and 8 of this Protocol shall apply to these loans.Article 10The Contracting Parties shall, one year before expiry of this Protocol, consider which of its provisions relating to financial assistance might be adopted for a further period.Article 11This Protocol shall be annexed to the Agreement establishing an Association between the European Economic Community and Turkey.Article 121. This Protocol shall be retified by the Signatory States in accordance with their respective constitutional requirements and, as regards the Community, shall become binding by a Council Decision taken in accordance with the Treaty establishing the Community and notified to the Contracting Parties to the Agreement establishing an Association between the European Economic Community and Turkey.The above instruments of ratification and the act of notification of conclusion shall be exchanged at Brussels.2. This Protocol shall enter into force on the first day of the month following the date of exchange of the instruments of ratification and act of notification of conclusion, referred to in paragraph 1.Article 13This Protocol is drawn up in two copies in the Dutch, French, German, Italian and Turkish languages, each of these texts being equally authentic.In witness whereof, the undersigned Plenipotentiaries have signed this Financial Protocol.Done at Brussels this twenty-third day of November in the year one thousand nine hundred and seventy.For His Majesty the King of the Belgians,Pierre HARMELFor the President of the Federal Republic of Germany,Walter SCHEELFor the President of the French Republic,Maurice SCHUMANNFor the President of the Italian Republic,Mario PEDINIFor His Royal Highness the Grand Duke of Luxembourg,Gaston THORNFor Her Majesty the Queen of the Netherlands,J. M. A. H. LUNSFor the Council of the European Communities,Walter SCHEELFranco Maria MALFATTIFor the President of the Republic of Turkey,Ihsan Sabri ÇAGLAYANGÍLFINAL ACTThe Plenipotentiaries of:HIS MAJESTY THE KING OF THE BELGIANS,THE PRESIDENT OF THE FEDERAL REPUBLIC OF GERMANY,THE PRESIDENT OF THE FRENCH REPUBLIC,THE PRESIDENT OF THE ITALIAN REPUBLIC,HIS ROYAL HIGHNESS THE GRAND DUKE OF LUXEMBOURG,HER MAJESTY THE QUEEN OF THE NETHERLANDS,and ofTHE COUNCIL OF THE EUROPEAN COMMUNITIES,of the one part, and ofTHE PRESIDENT OF THE REPUBLIC OF