1. Before entering into a loan agreement with the Member State concerned, the Commission shall assess whether:

(a) the justification for requesting the loan support and its amount is considered reasonable and plausible in relation to the additional reforms and investments; and

(b) the additional reforms and investments comply with the criteria set out in Article 19(3).

2. Where the Commission considers that the request for loan support fulfils the criteria of paragraph 1, and upon adoption of the Council implementing decision referred to in Article 20(1), the Commission shall enter into a loan agreement with the Member State concerned. The loan agreement, in addition to the elements laid down in Article 220(5) of the Financial Regulation, shall contain the following elements:

(a) the amount of the loan in euro including, where applicable, the amount of the pre-financed loan in accordance with Article 13;

(b) the average maturity; Article 220(2) of the Financial Regulation shall not apply with regard to this maturity;

(c) the pricing formula and the availability period of the loan;

(d) the maximum number of instalments and the repayment schedule;