Explanatory Memorandum to COM(2011)691 - Financial contributions to be paid by the Member States to finance the European Development Fund in 2012 and 2013, including the first instalment for 2012 - Main contents
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| dossier | COM(2011)691 - Financial contributions to be paid by the Member States to finance the European Development Fund in 2012 and 2013, including ... |
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| source | COM(2011)691  |
| date | 26-10-2011 |
In accordance with Article 57 i of the 10th EDF Financial Regulation, this proposal covers:
- the ceiling for the annual amount of the contribution for 2013;
- the annual amount of the contribution for 2012; and
- the amount of the first instalment of the contribution for 2012.
In accordance with Article 57(7) of the 10th EDF Financial Regulation, the amount managed by the Commission and the amount managed by the EIB are specified separately.
In accordance with Article 145 of the 10th EDF Financial Regulation, the EIB has sent the Commission its updated estimates of commitments and payments under the instruments it manages.
In accordance with Article 57 i of the 10th EDF Financial Regulation, the Council must decide on this proposal by 15 November 2011 and Member States must pay the first instalment of the contribution at the latest by 21 January 2012.
Article 58 i of the Financial Regulation provides that calls for contributions first use up the amounts laid down for previous EDFs, one after the other. The calls for contributions in this proposal therefore concern amounts under the 9th EDF for the EIB and the 10th EDF for the Commission.
Article 60 i of the Financial Regulation provides that a Member State which fails to pay the instalment of the contribution due by the deadline will be required to pay interest on the amount unpaid; the arrangements for the payment of interest are specified in the same Article.