European Investment Bank - EIB v Syrian Arab Republic - Judgment of The General Court - Ninth Chamber - Case T-468-22 - 18 October 2023
Country
Year
2023
Summary
(Arbitration clause - Loan agreement concerning a project for the reinforcement of the electricity transmission system in a third country - Non-performance of the agreement - Repayment of the sums advanced - Default interest - Procedure by default)
Judgment: By its action based on Article 272 TFEU, the European Investment Bank (EIB) requests that the Syrian Arab Republic be ordered to pay the European Union, which it represents, the sums of EUR 22 856 655.23 and 1 984 763.43 Swiss francs (CHF), together with interest, under Loan Agreement No 20868 concerning a project for the reinforcement of the electricity transmission system in Syria ('the loan agreement').