Legal provisions of COM(2015)295 - Financial information on the European Development Fund - Main contents
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| dossier | COM(2015)295 - Financial information on the European Development Fund. |
|---|---|
| document | COM(2015)295  |
| date | June 15, 2015 |
Brussels, 15.6.2015
COM(2015) 295 final
COMMUNICATION FROM THE COMMISSION TO THE COUNCIL
Financial information on the European Development Fund
1. Foreword
The 11th European Development Fund (EDF) 1 entered into force on 2 March 2015. Nevertheless, in line with Article 63 of the Council Regulation (EU) 2015/323 on the financial regulation applicable to the 11th European Development Fund 2 , the 10th EDF procedure will apply for the second call for contributions of 2015 for all matters related to Member States' contributions covered by those articles. A new procedure will apply for the first time for the first 2016 instalment, as stipulated in Article 63 of Council Regulation (EU) 2015/323.
In accordance with Article 7(3) of the Internal Agreement 3 and Articles 57(3) and (4) of the 10th EDF Financial Regulation 4 , the Commission presents in this document estimates of commitments, payments and contributions for the period 2015 and 2016, taking into account the forecasts of the European Investment Bank (EIB) concerning the Investment Facility.
This Communication sets out the financial implementation of the EDFs (8th to 10th and the Bridging Facility 5 ) for 2014 and the forecasts of financial implementation for 2015 to 2016.
Member States contribute funds directly to the EIB for the instruments which it manages under the 9th and 10th EDFs (the Investment Facility and interest-rate subsidies). Contributions for other instruments, including contributions for the old instruments managed by the EIB (risk capital and interest-rate subsidies), go to the Commission.
2. Introduction
The Commission and the EIB have updated their commitment and payment forecasts for 2015 and 2016 for each of the African, Caribbean and Pacific (ACP) countries and the Overseas Countries and Territories (OCTs). The payment forecasts in particular have been compiled with the aim of helping the Member States assess as accurately as possible the amounts they need to earmark in their national budgets and ensuring that sufficient financial resources are available for the EDF to avoid liquidity problems.
In accordance with Article 7 of the Internal Agreement on the 10th EDF 6 and Article 57(5) of the Financial Regulation 7 , the estimates provided in this document will be updated in the October 2015 communication.
The graph below shows the general trend in commitments and payments, including projections for 2015 - 2016 (Commission and EIB).
Gross commitments and payments: trend 1999-2016 (EUR millions) 8
Implementation of the European Development Funds at 31 December 2014 (commitments, payments and financial situation).
The attachments 1, 2 and 3 show respectively the actual commitments, payments and financial situation recorded in 2014 compared with the forecasts made in October 2014 9 .
3. Financial forecasts for 2015 – 2016 (EUR millions)
The following table provides an update of commitments, payments and of contributions, based on our latest forecasts.
| Forecasts 2015-2016 (*) | 2015 | 2016 | |
| Commitments | Commission | 3.552 | 4.663 |
| EIB | 830 | 850 | |
| Total | 4.382 | 5.513 | |
| Payments | Commission | 3.103 | 3.468 |
| EIB | 430 | 450 | |
| Total | 3.533 | 3.918 | |
| Contributions | Commission | 3.200 | 3.350 |
| EIB | 200 | 200 | |
| Total | 3.400 | 3.550 |
* gross amounts, i.e. no decommitments or recoveries/reflows have been deducted. This approach is in line with that used for the general budget of the EU.
4. Non-binding Estimation of contribution for 2017 – 2018 (EUR millions)
| Forecasts 2017-2018 (*) | 2017 | 2018 | |
| Contributions | Commission | 3.450 | 3.500 |
| EIB | 200 | 170 | |
| Total | 3.650 | 3.670 |
*Art.21 (2) Bridging Facility Financial Regulation (EU567/2014): non-binding forecast based on statistical approach for the expected annual amounts of contributions for the year n+3 and n+4.
5. Financial implementation for 2014 and forecasts for 2015 and 2016
The updated forecasts are set out in Attachments 1 to 3.
Compared with estimates contained in the November 2014 Council Decision 10 , updated forecasts show a decrease of EUR 200 million in Member States' contributions to the Commission's 2015 EDF totals.
The decrease in contributions to be called in 2015 is a consequence of the record level of payments made by the Commission from the EDF in 2014. The extra amount being called by the Commission to cover those extra payments was offset by lower EIB contribution calls and the low commitments made in 2014 under the Bridging Facility.
For 2016 we forecast the ceiling for the Member States contributions will amount to EUR 3.350 million for the Commission and EIB’s is EUR 200 million in total, of which EUR 100 million to be called under the 10th EDF and EUR 100 million under the 11th EDF.
It should be stressed that these figures are a preliminary forecast and must be treated with caution. The Commission and the EIB will make more reliable forecasts after the summer. They will be presented in the October Communication.
Attachment 1: Gross commitments in 2014, forecast 2015 and 2016 (EUR million)
| 2014 | 2015 | 2016 | ||||
| COM Oct 2014 | actuals 2014 | COM Oct 2014 | revised June 2015 | COM Oct 2014 | revised June 2015 | |
| Regions | ||||||
| East Africa | 60 | 30 | 625 | |||
| West Africa | 338 | 160 | 966 | |||
| Central Africa | 330 | 227 | 692 | |||
| Caribbean | 0 | 0 | 0 | |||
| Pacific | 7 | 3 | 7 | |||
| Southern Africa | 238 | 149 | 368 | |||
| Sub-total | 973 | 569 | 2.658 | |||
| Other | ||||||
| Peace Facility | 325 | 281 | 692 | |||
| Water and Energy Facility | 0 | 0 | 0 | |||
| Other (*) | 315 | 310 | 201 | |||
| Sub-total | 640 | 0 | 893 | |||
| Total European Commission | 1.613 | 1.160 | 4.663 | 3.552 | 4.663 | 4.663 |
| Investment facility | 730 | 532 | 750 | 750 | 800 | 770 |
| Interest rate subsidies | 80 | 72 | 80 | 80 | 80 | 80 |
| Total EIB | 810 | 604 | 830 | 830 | 880 | 850 |
| TOTAL EC+EIB | 2.423 | 1.764 | 5.493 | 4.382 | 5.543 | 5.513 |
Gross commitments, i.e. without de-commitments being deducted.
* Includes support expenditures, e.g. to support joint institutions and the ACP Secretariat.
Attachment 2: Gross payments in 2014, forecasts 2015 and 2016 (EUR million)
| 2014 | 2015 | 2016 | ||||
| COM Oct 2014 | actuals 2014 | COM Oct 2014 | revised June 2015 | COM Oct 2014 | revised June 2015 | |
| Regions | ||||||
| East Africa | 478 | 495 | 426 | |||
| West Africa | 894 | 927 | 761 | |||
| Central Africa | 425 | 440 | 334 | |||
| Caribbean | 205 | 213 | 209 | |||
| Pacific | 65 | 67 | 71 | |||
| Southern Africa | 391 | 405 | 389 | |||
| Sub-total | 2.458 | 2.548 | 2.191 | |||
| Other | ||||||
| Peace Facility | 363 | 385 | 373 | |||
| Water and Energy Facility | 71 | 72 | 71 | |||
| Other (*) | 557 | 576 | 468 | |||
| Sub-total | 991 | 1.033 | 912 | |||
| Total European Commission | 3.449 | 3.581 | 3.400 | 3.103 | 3.468 | 3.468 |
| Investment facility | 330 | 290 | 390 | 350 | 420 | 370 |
| Interest rate subsidies | 80 | 72 | 80 | 80 | 80 | 80 |
| Total EIB | 410 | 362 | 470 | 430 | 500 | 450 |
| TOTAL EC+EIB | 3.859 | 3.943 | 3.870 | 3.533 | 3.968 | 3.918 |
Gross commitments, i.e. without de-commitments being deducted.
* Includes support expenditures, e.g. to support joint institutions and the ACP Secretariat.
Attachment 3: Financial situation for 2014, forecasts for 2015 and 2016 and non-binding estimations for 2017 and 2018 (EUR million)
| COM October 2014 1 | Revision June 2015 | |||||||
| Commission | EIB | TOTAL | Commission | EIB | EIB-IFE 6 | TOTAL | ||
| Balance 31/12/2013 1 | 655 | 224 | 879 | 655 | 224 | 879 | ||
| 2014 | Member States Contributions for 2014: | 3.144 | 106 | 3.250 | 3.144 | 106 | 3.250 | |
| 1st instalment | 2.000 | 2.000 | 2.000 | 2.000 | ||||
| 2nd instalment | 850 | 106 | 956 | 850 | 106 | 956 | ||
| 3rd instalment | 294 | 0 | 294 | 294 | 294 | |||
| Contributions 2014 received in 2013 | -304 | -304 | -304 | -304 | ||||
| Contributions 2015 received in 2014 | 228 | 228 | ||||||
| Reflows 2 | 250 | 250 | 226 | 226 | ||||
| Recoveries, interest and other | 100 | 100 | 65 | 65 | ||||
| Total payments 3 | -3.449 | -410 | -3.859 | -3.581 | -362 | -3.943 | ||
| Balance 31/12/2014 4 | 146 | 170 | 316 | 207 | 194 | 0 | 401 | |
| 2015 | Member States Contributions for 2015: | 3.400 | 200 | 3.600 | 3.200 | 200 | 3.400 | |
| 1st instalment | 1.500 | 50 | 1.550 | 1.500 | 50 | 1.550 | ||
| 2nd instalment | 1.050 | 100 | 1.150 | 850 | 100 | 950 | ||
| 3rd instalment | 850 | 50 | 900 | 850 | 50 | 900 | ||
| Reflows 2 | 200 | 200 | 250 | 250 | ||||
| Contributions 2015 received in 2014 | -228 | -228 | ||||||
| Recoveries, interest and other | 100 | 100 | 100 | 100 | ||||
| Total payments 3 | -3.400 | -470 | -3.870 | -3.103 | -385 | -45 | -3.533 | |
| Balance at 31/12/2015 | 246 | 100 | 346 | 176 | 259 | -45 | 390 | |
| 2016 | Member States Contributions for 2016: | 3.350 | 250 | 3.600 | 3.350 | 100 | 100 | 3.550 |
| Reflows 2 | 200 | 200 | 220 | 220 | ||||
| Recoveries, interest and other | 100 | 100 | 100 | 100 | ||||
| Total payments 3 | -3.468 | -500 | -3.968 | -3.468 | -400 | -50 | -3.918 | |
| Balance at 31/12/2016 | 228 | 50 | 278 | 158 | 179 | 5 | 342 | |
| 2017 | Member States Contributions for 2017 5 | 3.450 | 200 | 3.650 | 3.450 | 140 | 60 | 3.650 |
| 2018 | Member States Contributions for 2018 5 | 3.500 | 170 | 3.670 | 3.500 | 100 | 70 | 3.670 |
1 Funds available for operations,
2 Net of EIB management fees
3 Including interest rates subsidies under the previous EDFs
4 These balances do not include: (i) Cofinancings received by 31.12.2014, (ii) Receipts in bank not yet allocated to its specific EDF line, (iii) Special fund for DRC
5 Art.21 (2) FR: indicative, non-binding forecast based on a statistical approach for the expected annual amounts of contributions for the years n + 3 and n + 4.
6 MD no. 041/15 ACP of 23/04/2015 - Note to the Members of the ACP Working Party: (…). Given the particularity of the IFE. (Impact Financing Envelope, EUR 500m allocated) and Member States' explicitly request for having it ring-fenced under the IFE, the Bank will start with calling funds also from the 11th EDF in 2016 in order to be able to properly allocate MS contribution to the IFE.
Attachment 4: Forecasted Member States contributions 2015 (EUR)
| MEMBER STATES | Key 10th EDF % | 1st instalment | 2nd instalment | 3rd instalment | Total EIB | Total Commission | Total 2015 | |||
| EIB 10th EDF | Commission 10th EDF | EIB 10th EDF | Commission 10th EDF | EIB 10th EDF | Commission 10th EDF | |||||
| AUSTRIA | 2,41 | 1.205.000 | 36.150.000 | 2.410.000 | 20.485.000 | 1.205.000 | 20.485.000 | 4.820.000 | 77.120.000 | 81.940.000 |
| BELGIUM | 3,53 | 1.765.000 | 52.950.000 | 3.530.000 | 30.005.000 | 1.765.000 | 30.005.000 | 7.060.000 | 112.960.000 | 120.020.000 |
| BULGARIA | 0,14 | 70.000 | 2.100.000 | 140.000 | 1.190.000 | 70.000 | 1.190.000 | 280.000 | 4.480.000 | 4.760.000 |
| CYPRUS | 0,09 | 45.000 | 1.350.000 | 90.000 | 765.000 | 45.000 | 765.000 | 180.000 | 2.880.000 | 3.060.000 |
| CZECH REPUBLIC | 0,51 | 255.000 | 7.650.000 | 510.000 | 4.335.000 | 255.000 | 4.335.000 | 1.020.000 | 16.320.000 | 17.340.000 |
| DENMARK | 2,00 | 1.000.000 | 30.000.000 | 2.000.000 | 17.000.000 | 1.000.000 | 17.000.000 | 4.000.000 | 64.000.000 | 68.000.000 |
| ESTONIA | 0,05 | 25.000 | 750.000 | 50.000 | 425.000 | 25.000 | 425.000 | 100.000 | 1.600.000 | 1.700.000 |
| FINLAND | 1,47 | 735.000 | 22.050.000 | 1.470.000 | 12.495.000 | 735.000 | 12.495.000 | 2.940.000 | 47.040.000 | 49.980.000 |
| FRANCE | 19,55 | 9.775.000 | 293.250.000 | 19.550.000 | 166.175.000 | 9.775.000 | 166.175.000 | 39.100.000 | 625.600.000 | 664.700.000 |
| GERMANY | 20,50 | 10.250.000 | 307.500.000 | 20.500.000 | 174.250.000 | 10.250.000 | 174.250.000 | 41.000.000 | 656.000.000 | 697.000.000 |
| GREECE | 1,47 | 735.000 | 22.050.000 | 1.470.000 | 12.495.000 | 735.000 | 12.495.000 | 2.940.000 | 47.040.000 | 49.980.000 |
| HUNGARY | 0,55 | 275.000 | 8.250.000 | 550.000 | 4.675.000 | 275.000 | 4.675.000 | 1.100.000 | 17.600.000 | 18.700.000 |
| IRELAND | 0,91 | 455.000 | 13.650.000 | 910.000 | 7.735.000 | 455.000 | 7.735.000 | 1.820.000 | 29.120.000 | 30.940.000 |
| ITALY | 12,86 | 6.430.000 | 192.900.000 | 12.860.000 | 109.310.000 | 6.430.000 | 109.310.000 | 25.720.000 | 411.520.000 | 437.240.000 |
| LATVIA | 0,07 | 35.000 | 1.050.000 | 70.000 | 595.000 | 35.000 | 595.000 | 140.000 | 2.240.000 | 2.380.000 |
| LITHUANIA | 0,12 | 60.000 | 1.800.000 | 120.000 | 1.020.000 | 60.000 | 1.020.000 | 240.000 | 3.840.000 | 4.080.000 |
| LUXEMBOURG | 0,27 | 135.000 | 4.050.000 | 270.000 | 2.295.000 | 135.000 | 2.295.000 | 540.000 | 8.640.000 | 9.180.000 |
| MALTA | 0,03 | 15.000 | 450.000 | 30.000 | 255.000 | 15.000 | 255.000 | 60.000 | 960.000 | 1.020.000 |
| NETHERLANDS | 4,85 | 2.425.000 | 72.750.000 | 4.850.000 | 41.225.000 | 2.425.000 | 41.225.000 | 9.700.000 | 155.200.000 | 164.900.000 |
| POLAND | 1,30 | 650.000 | 19.500.000 | 1.300.000 | 11.050.000 | 650.000 | 11.050.000 | 2.600.000 | 41.600.000 | 44.200.000 |
| PORTUGAL | 1,15 | 575.000 | 17.250.000 | 1.150.000 | 9.775.000 | 575.000 | 9.775.000 | 2.300.000 | 36.800.000 | 39.100.000 |
| ROMANIA | 0,37 | 185.000 | 5.550.000 | 370.000 | 3.145.000 | 185.000 | 3.145.000 | 740.000 | 11.840.000 | 12.580.000 |
| SLOVAKIA | 0,21 | 105.000 | 3.150.000 | 210.000 | 1.785.000 | 105.000 | 1.785.000 | 420.000 | 6.720.000 | 7.140.000 |
| SLOVENIA | 0,18 | 90.000 | 2.700.000 | 180.000 | 1.530.000 | 90.000 | 1.530.000 | 360.000 | 5.760.000 | 6.120.000 |
| SPAIN | 7,85 | 3.925.000 | 117.750.000 | 7.850.000 | 66.725.000 | 3.925.000 | 66.725.000 | 15.700.000 | 251.200.000 | 266.900.000 |
| SWEDEN | 2,74 | 1.370.000 | 41.100.000 | 2.740.000 | 23.290.000 | 1.370.000 | 23.290.000 | 5.480.000 | 87.680.000 | 93.160.000 |
| UNITED KINGDOM | 14,82 | 7.410.000 | 222.300.000 | 14.820.000 | 125.970.000 | 7.410.000 | 125.970.000 | 29.640.000 | 474.240.000 | 503.880.000 |
| TOTAL EU-27 | 100,00 | 50.000.000 | 1.500.000.000 | 100.000.000 | 850.000.000 | 50.000.000 | 850.000.000 | 200.000.000 | 3.200.000.000 | 3.400.000.000 |
(1) OJ L 210, 6.8.2013, 11th EDF Internal Agreement between the Representatives of the Governments of the Member States, meeting within the Council, on the financing of Community aid under the multiannual financial framework for the period 2014 to 2020 in accordance with the ACP-EU Partnership Agreement and on the allocation of financial assistance for the Overseas Countries and Territories to which Part Four of the European Union applies,
(2) OJ L 58, Council Regulation (EU) 2015/323 of 2 March 2015 on the financial regulation applicable to the 11th European Development Fund,
(3) Internal Agreement between the Representatives of the Governments of the Member States, meeting within the Council, on the financing of Community aid under the multiannual financial framework for the period 2008 to 2013 in accordance with the ACP-EC Partnership Agreement and on the allocation of financial assistance for the Overseas Countries and Territories to which Part Four of the EC Treaty applies, OJ L 247, 9.9.2006, p. 32.
(4) Council Regulation (EC) No 215/2008 of 18 February 2008 on the Financial Regulation applicable to the 10th European Development Fund.
(5) Council decision (EU) 2013/795
(6) OJ L 247, 9.9.2006, p. 32, on the financial regulation applicable to the 10th European Development Fund
(7) Council Regulation (EC) 215/2008 of 18 February 2008 on the Financial Regulation applicable to the 10th European Development Fund.
(8) For 2015-2016, forecasted amounts
(9) 2014/0298 (NLE).
(10) Council ref. 14563/14 – Decision from 10 November 2014.