Explanatory Memorandum to COM(2020)638 - Financial information on the European Development Fund (EDF): forecasts of commitments, payments and contributions from Member States for 2020-22 and forecasts for 2023-24

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dossier COM(2020)638 - Financial information on the European Development Fund (EDF): forecasts of commitments, payments and contributions from ...
source COM(2020)638 EN
date 08-10-2020
EUROPEAN COMMISSION

Contents

1.

Brussels, 8.10.2020


COM(2020) 638 final

COMMUNICATION FROM THE COMMISSION TO THE COUNCIL

Financial information on the European Development Fund

European Development Fund (EDF): forecasts of commitments, payments and contributions from Member States for 2020, 2021, 2022 and non-binding forecast for the years 2023-2024


1. Foreword 1

In accordance with Article 7(1) of the 11th European Development Fund (EDF) Internal Agreement 2 and Article 19(2) of the Council Regulation (EU) 2018/1877 3 on the Financial Regulation applicable to the 11th European Development Fund (hereinafter referred to as '11th EDF Financial Regulation'), the Commission presents in this document the estimates of the commitments, payments and contributions for the period 2020-2022, taking into account the forecasts of the European Investment Bank (EIB).

This document sets out the financial implementation forecast of the EDFs (Eighth to 11th) for 2020 until 2022. In addition, this document makes non-binding estimates for the EDF contributions from the Member States for the years 2023-2024.

Member States contribute funds directly to the EIB for the instruments, which it manages under the Ninth, 10th, and 11th EDFs (the Investment Facility and interest rate subsidies).

2. Introduction

The Commission and the EIB have updated their commitment and payment forecasts for 2020, 2021 and 2022 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 Member States to assess as accurately as possible the amounts they need to earmark in their national budgets while ensuring that sufficient financial resources are available for the EDF to avoid liquidity problems.

In accordance with Article 7 of the 11th EDF Internal Agreement 4 and Article 19(2) of the 11th EDF Financial Regulation 5 , the estimates of commitments and payments have been updated following the latest forecasts.

The graph below shows the general evolution in gross commitments and payments since 1999 until 2019 and projections for the period 2020-2022 (Commission and EIB cumulated amounts).


2.

Gross commitments and payments: trend 1999-2022 (EUR million)



* Forecasts for 2020-2022

Note: Figures from implementation of the European Development Funds until 31 December 2019 (commitments and payments) and forecasts for 2020-2022.

3. Financial forecasts for 2020 - 2022 (EUR million)

The following table provides an update of the commitments, the payments and of the contributions, based on the Commission's latest forecasts.

Forecasts 2020-2022 (*)
202020212022
CommitmentsCommission3 26700
EIB96200
Total4 22900
PaymentsCommission4 9343 7002 500
EIB588540490
Total5 5224 2402 990
ContributionsCommission (11th EDF)4 4003 7002 500
EIB (10th EDF)300700
EIB (11th EDF)0230300
Total4 7004 0002 800

* 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 Union.

** Taking into account that the Commission has proposed to carry out development and international cooperation for the period 2021-2027 with new implementation modalities, the Commission has decreased its estimates of payments under the EDFs and therefore of the annual amount of the contributions for 2020 and of the ceiling for the annual amount of the contributions for 2021.


4. Non-binding Estimates of contributions for 2023 - 2024 (EUR million)

Forecasts 2023-2024 (*)20232024
ContributionsCommission (11th EDF)1 8001 500
EIB (11th EDF)300200
Total2 1001 700

*Art,19(2) 11th EDF Financial Regulation (EU 2018/1877): indicative, non-binding forecast based on a statistical approach for the expected annual amounts of contributions for the years n + 3 and n + 4, forecast for the expected annual amounts of contributions for the years 2023 and 2024.

** Taking into account that the Commission has proposed to carry out development and international cooperation for the period 2021-2027 with new implementation modalities, the Commission has decreased its estimates of payments under the EDFs and therefore of the forecast for the expected annual amounts of contributions for the years 2023 and 2024.

5. Financial implementation forecasts for 2020, 2021 and 2022.

The updated forecasts are set out in attachments 1 to 3.

For 2020, the estimates for commitments (Commission) remain unchanged compared to the June 2020 Communication. The estimates for payments show an increase of EUR 548 million, mainly due to the impact of the COVID-19 crisis.

For 2021, the estimates for payments and contributions by the Commission remain unchanged compared to the June 2020 Communication.

Regarding the forecasts of EIB, the delivery of its operations and liquidity needs are strongly impacted by the current COVID crisis and the future mandate scenario.

Attachments 1, 2 and 3 show respectively forecasts of commitments, forecasts of payments and the financial situation compared with previous forecasts for the period 2020-2022.

Attachments 4 and 5 show respectively contributions for 2021 and for 2022 per instalment and per Member State.

Attachment 6 shows the yearly contributions for the period 2021-2024 per Member State.


5.1.Attachment 1: Forecasts for commitments 6 for 2020, and forecasts for 2021 and 2022 (EUR million)

202020212022
Communication June 2020Communication October 2020Communication June 2020Communication October 2020Communication June 2020Communication October 2020
Regions
East and Southern Africa1 3741 076
West and Central Africa805782
Latin America and Caribbean213181
Pacific5384
Sub-total*2 4462 123
Other
Human rights, Health, Education126
EU-Africa, African Peace Facility513
EUTF Africa375359
Planet and Prosperity285431
Resources, Evaluation, process218253
DG ECHO, EACEA, DG EAC4261
Sub-total*9261 143
Total European Commission*3 3723 267000
Investment Facility subsidies (**)162162000
Total EIB***162162000
TOTAL EC+EIB*3 5343 429000

* Due to the rounding effects, the sum of individual rounded amounts shown may differ slightly from the corresponding totals

** Including subsidy for technical assistance and interest rate subsidies from the current EDF and IRS disbursment under previous EDFs

202020212022
Communication June 2020Communication October 2020Communication June 2020Communication October 2020Communication June 2020Communication October 2020
Investment facility revolving fund***800800000

*** The commitment under the revolving fund cannot be assimilated to budgetary commitments. It shall be therefore reported separately.

5.2.Attachment 2: Forecasts for payments 7 for 2020, 2021 and 2022 (EUR million)

202020212022
Communication June 2020Communication October 2020Communication June 2020Communication October 2020Communication June 2020Communication October 2020
Regions
East and Southern Africa1 7972 2661 699
West and Central Africa741747642
Latin America and Caribbean241254191
Pacific119160120
Sub-total*2 8983 4272 652
Other
Human rights, Health, Education231240
EU-Africa, African Peace Facility214287215
EUTF Africa650668600
Planet and Prosperity128138103
Resources, Evaluation, process1996750
DG ECHO, EACEA, DG EAC6710579
Sub-total*1 4881 5061 048
Total European Commission*4 3864 9343 7003 7002 500
Investment Facility subsidies (**)3838404040
Total EIB***3838404040
TOTAL European Commission + EIB*4 4244 9723 7403 7402 540

* Due to the rounding effects, the sum of individual rounded amounts shown may differ slightly from the corresponding totals

** Including subsidy for technical assistance and interest rate subsidies from the current EDF and IRS disbursment under previous EDFs

202020212022
Communication June 2020Communication October 2020Communication June 2020Communication October 2020Communication June 2020Communication October 2020
Investment facility revolving fund ***550550550500450

*** The disbursement under the revolving fund cannot be assimilated to budgetary gross payment. It shall be therefore reported separately.


5.3.Attachment 3: Financial forecasts for 2020-2022 and non-binding estimations for 2023 - 2024 (EUR million):

Communication June 2020 1Communication October 2020 1
CommissionEIBTOTALCommissionEIBTOTAL
Balance at 31/12/2019 41 1793791 5581 1793791 558
2020Member States & UK Contributions for 2020:4 4003004 7004 4003004 700
1st instalment1 8001001 9001 8001001 900
2nd instalment1 6001001 7001 6001001 700
3rd instalment1 0001001 1001 0001001 100
Reflows 2332332303303
Contrib. & Adjust. 2020 received in 2019- 264
0- 264
- 264
0- 264
Recoveries, interest and adjustment65656060
Provision for the UK share of 8, 9, 10th EDF 6- 73
- 73
0
Total payments 3- 4 386
- 588
- 4 974
- 4 934
- 588
- 5 522
Balance at 31/12/2020 49214231 344441394835
2021Member States & UK Contributions for 2021:3 7003004 0003 7003004 000
1st instalment1 600701 6701 600701 670
2nd instalment1 2001301 3301 2001301 330
3rd instalment9001001 0009001001 000
Reflows 2399399390390
Recoveries, interest and adjustment65655555
Provision for a refund of 8th 9th EDF0- 223
- 223
Provision for the UK share of 10th EDF 60- 49
- 49
Total payments 3- 3 700
- 590
- 4 290
- 3 700
- 540
- 4 240
Balance at 31/12/2021 49865321 518225544768
2022Member States & UK Contributions for 2022:2 7003003 0002 5003002 800
Reflows 2431431
Recoveries, interest and adjustment5050
Total payments 3- 2 500
- 490
- 2 990
Balance at 31/12/2022 42757851 059
2023Member States & UK Contributions for 2023 52 0001002 1001 8003002 100
2024Member States & UK Contributions for 2024 51 5002001 700


1 Funds available for operations as per Communication from the Commission to the Council;
2 Net of EIB management fees and cost of swaps;
3 Including interest rates subsidies under the previous EDFs;
4 Balances do not include: (i) Cofinancings received, (ii) Receipts in bank not yet allocated to a specific EDF line, EIB reflows previously reported, as they are not yet reimbursed;
5 Art.19(2)(d) 11th EDF Financial Regulation: non-binding forecast based on a statistical approach for the expected annual contributions for the years n + 3 and n + 4;

6 According to Article 153 of the Withdrawal Agreement, the UK part of previous EDF's shall not be reused.


5.4.Attachment 4: Member States and the UK contributions for 2021 (EUR)

MEMBER STATES & UKKey 10th EDF %Key 11th EDF %1st instalment2nd instalment3rd instalmentTotal EIBTotal
Commission
Total 2021
EIBCommissionEIBCommissionEIBCommission
10th EDF11th EDF11th EDF11th EDF11th EDF11th EDF
BELGIUM3,533,249272 471 000,0051 988 320,004 224 051,0038 991 240,003 249 270,0029 243 430,009 944 321,00120 222 990,00130 167 311,00
BULGARIA0,140,2185398 000,003 496 480,00284 089,002 622 360,00218 530,001 966 770,00600 619,008 085 610,008 686 229,00
CZECH REPUBLIC0,510,79745357 000,0012 759 200,001 036 685,009 569 400,00797 450,007 177 050,002 191 135,0029 505 650,0031 696 785,00
DENMARK2,001,980451 400 000,0031 687 200,002 574 585,0023 765 400,001 980 450,0017 824 050,005 955 035,0073 276 650,0079 231 685,00
GERMANY20,5020,5798014 350 000,00329 276 800,0026 753 740,00246 957 600,0020 579 800,00185 218 200,0061 683 540,00761 452 600,00823 136 140,00
ESTONIA0,050,0863535 000,001 381 600,00112 255,001 036 200,0086 350,00777 150,00233 605,003 194 950,003 428 555,00
IRELAND0,910,94006637 000,0015 040 960,001 222 078,0011 280 720,00940 060,008 460 540,002 799 138,0034 782 220,0037 581 358,00
GREECE1,471,507351 029 000,0024 117 600,001 959 555,0018 088 200,001 507 350,0013 566 150,004 495 905,0055 771 950,0060 267 855,00
SPAIN7,857,932485 495 000,00126 919 680,0010 312 224,0095 189 760,007 932 480,0071 392 320,0023 739 704,00293 501 760,00317 241 464,00
FRANCE19,5517,8126913 685 000,00285 003 040,0023 156 497,00213 752 280,0017 812 690,00160 314 210,0054 654 187,00659 069 530,00713 723 717,00
CROATIA0,000,225180,003 602 880,00292 734,002 702 160,00225 180,002 026 620,00517 914,008 331 660,008 849 574,00
ITALY12,8612,530099 002 000,00200 481 440,0016 289 117,00150 361 080,0012 530 090,00112 770 810,0037 821 207,00463 613 330,00501 434 537,00
CYPRUS0,090,1116263 000,001 785 920,00145 106,001 339 440,00111 620,001 004 580,00319 726,004 129 940,004 449 666,00
LATVIA0,070,1161249 000,001 857 920,00150 956,001 393 440,00116 120,001 045 080,00316 076,004 296 440,004 612 516,00
LITHUANIA0,120,1807784 000,002 892 320,00235 001,002 169 240,00180 770,001 626 930,00499 771,006 688 490,007 188 261,00
LUXEMBOURG0,270,25509189 000,004 081 440,00331 617,003 061 080,00255 090,002 295 810,00775 707,009 438 330,0010 214 037,00
HUNGARY0,550,61456385 000,009 832 960,00798 928,007 374 720,00614 560,005 531 040,001 798 488,0022 738 720,0024 537 208,00
MALTA0,030,0380121 000,00608 160,0049 413,00456 120,0038 010,00342 090,00108 423,001 406 370,001 514 793,00
NETHERLANDS4,854,776783 395 000,0076 428 480,006 209 814,0057 321 360,004 776 780,0042 991 020,0014 381 594,00176 740 860,00191 122 454,00
AUSTRIA2,412,397571 687 000,0038 361 120,003 116 841,0028 770 840,002 397 570,0021 578 130,007 201 411,0088 710 090,0095 911 501,00
POLAND1,302,00734910 000,0032 117 440,002 609 542,0024 088 080,002 007 340,0018 066 060,005 526 882,0074 271 580,0079 798 462,00
PORTUGAL1,151,19679805 000,0019 148 640,001 555 827,0014 361 480,001 196 790,0010 771 110,003 557 617,0044 281 230,0047 838 847,00
ROMANIA0,370,71815259 000,0011 490 400,00933 595,008 617 800,00718 150,006 463 350,001 910 745,0026 571 550,0028 482 295,00
SLOVENIA0,180,22452126 000,003 592 320,00291 876,002 694 240,00224 520,002 020 680,00642 396,008 307 240,008 949 636,00
SLOVAKIA0,210,37616147 000,006 018 560,00489 008,004 513 920,00376 160,003 385 440,001 012 168,0013 917 920,0014 930 088,00
FINLAND1,471,509091 029 000,0024 145 440,001 961 817,0018 109 080,001 509 090,0013 581 810,004 499 907,0055 836 330,0060 336 237,00
SWEDEN2,742,939111 918 000,0047 025 760,003 820 843,0035 269 320,002 939 110,0026 451 990,008 677 953,00108 747 070,00117 425 023,00
UNITED KINGDOM14,8214,6786210 374 000,00234 857 920,0019 082 206,00176 143 440,0014 678 620,00132 107 580,0044 134 826,00543 108 940,00587 243 766,00
TOTAL EU-27 & UK100,00100,0070 000 000,001 600 000 000,00130 000 000,001 200 000 000,00100 000 000,00900 000 000,00300 000 000,003 700 000 000,004 000 000 000,00


5.5.Attachment 5: Member States contributions for 2022 (EUR)

MEMBER STATES & UKKey 11th EDF %1st instalment2nd instalment3rd instalmentTotal EIBTotal
Commission
Total 2022
EIBCommissionEIBCommissionEIBCommission
11th EDF11th EDF11th EDF11th EDF11th EDF11th EDF
BELGIUM3,249273 249 270,0035 741 970,003 249 270,0025 994 160,003 249 270,0019 495 620,009 747 810,0081 231 750,0090 979 560,00
BULGARIA0,21853218 530,002 403 830,00218 530,001 748 240,00218 530,001 311 180,00655 590,005 463 250,006 118 840,00
CZECH REPUBLIC0,79745797 450,008 771 950,00797 450,006 379 600,00797 450,004 784 700,002 392 350,0019 936 250,0022 328 600,00
DENMARK1,980451 980 450,0021 784 950,001 980 450,0015 843 600,001 980 450,0011 882 700,005 941 350,0049 511 250,0055 452 600,00
GERMANY20,5798020 579 800,00226 377 800,0020 579 800,00164 638 400,0020 579 800,00123 478 800,0061 739 400,00514 495 000,00576 234 400,00
ESTONIA0,0863586 350,00949 850,0086 350,00690 800,0086 350,00518 100,00259 050,002 158 750,002 417 800,00
IRELAND0,94006940 060,0010 340 660,00940 060,007 520 480,00940 060,005 640 360,002 820 180,0023 501 500,0026 321 680,00
GREECE1,507351 507 350,0016 580 850,001 507 350,0012 058 800,001 507 350,009 044 100,004 522 050,0037 683 750,0042 205 800,00
SPAIN7,932487 932 480,0087 257 280,007 932 480,0063 459 840,007 932 480,0047 594 880,0023 797 440,00198 312 000,00222 109 440,00
FRANCE17,8126917 812 690,00195 939 590,0017 812 690,00142 501 520,0017 812 690,00106 876 140,0053 438 070,00445 317 250,00498 755 320,00
CROATIA0,22518225 180,002 476 980,00225 180,001 801 440,00225 180,001 351 080,00675 540,005 629 500,006 305 040,00
ITALY12,5300912 530 090,00137 830 990,0012 530 090,00100 240 720,0012 530 090,0075 180 540,0037 590 270,00313 252 250,00350 842 520,00
CYPRUS0,11162111 620,001 227 820,00111 620,00892 960,00111 620,00669 720,00334 860,002 790 500,003 125 360,00
LATVIA0,11612116 120,001 277 320,00116 120,00928 960,00116 120,00696 720,00348 360,002 903 000,003 251 360,00
LITHUANIA0,18077180 770,001 988 470,00180 770,001 446 160,00180 770,001 084 620,00542 310,004 519 250,005 061 560,00
LUXEMBOURG0,25509255 090,002 805 990,00255 090,002 040 720,00255 090,001 530 540,00765 270,006 377 250,007 142 520,00
HUNGARY0,61456614 560,006 760 160,00614 560,004 916 480,00614 560,003 687 360,001 843 680,0015 364 000,0017 207 680,00
MALTA0,0380138 010,00418 110,0038 010,00304 080,0038 010,00228 060,00114 030,00950 250,001 064 280,00
NETHERLANDS4,776784 776 780,0052 544 580,004 776 780,0038 214 240,004 776 780,0028 660 680,0014 330 340,00119 419 500,00133 749 840,00
AUSTRIA2,397572 397 570,0026 373 270,002 397 570,0019 180 560,002 397 570,0014 385 420,007 192 710,0059 939 250,0067 131 960,00
POLAND2,007342 007 340,0022 080 740,002 007 340,0016 058 720,002 007 340,0012 044 040,006 022 020,0050 183 500,0056 205 520,00
PORTUGAL1,196791 196 790,0013 164 690,001 196 790,009 574 320,001 196 790,007 180 740,003 590 370,0029 919 750,0033 510 120,00
ROMANIA0,71815718 150,007 899 650,00718 150,005 745 200,00718 150,004 308 900,002 154 450,0017 953 750,0020 108 200,00
SLOVENIA0,22452224 520,002 469 720,00224 520,001 796 160,00224 520,001 347 120,00673 560,005 613 000,006 286 560,00
SLOVAKIA0,37616376 160,004 137 760,00376 160,003 009 280,00376 160,002 256 960,001 128 480,009 404 000,0010 532 480,00
FINLAND1,509091 509 090,0016 599 990,001 509 090,0012 072 720,001 509 090,009 054 540,004 527 270,0037 727 250,0042 254 520,00
SWEDEN2,939112 939 110,0032 330 210,002 939 110,0023 512 880,002 939 110,0017 634 660,008 817 330,0073 477 750,0082 295 080,00
UNITED KINGDOM14,6786214 678 620,00161 464 820,0014 678 620,00117 428 960,0014 678 620,0088 071 720,0044 035 860,00366 965 500,00411 001 360,00
TOTAL EU-27 & UK100,00100 000 000,001 100 000 000,00100 000 000,00800 000 000,00100 000 000,00600 000 000,00300 000 000,002 500 000 000,002 800 000 000,00


5.6.Attachment 6: Member States contributions for 2021-2024 (EUR)

MEMBER STATES & UK10th11th2021202220232024
EDFEDFCOM 11thEIB 10thEIB 11thCOM 11thEIB 11thCOM 11thEIB 11thCOM 11thEIB 11th
BELGIUM3,533,24927120 222 9902 471 0007 473 32181 231 7509 747 81058 486 8609 747 81048 739 0506 498 540
BULGARIA0,140,218538 085 61098 000502 6195 463 250655 5903 933 540655 5903 277 950437 060
CZECH REPUBLIC0,510,7974529 505 650357 0001 834 13519 936 2502 392 35014 354 1002 392 35011 961 7501 594 900
DENMARK2,001,9804573 276 6501 400 0004 555 03549 511 2505 941 35035 648 1005 941 35029 706 7503 960 900
GERMANY20,5020,57980761 452 60014 350 00047 333 540514 495 00061 739 400370 436 40061 739 400308 697 00041 159 600
ESTONIA0,050,086353 194 95035 000198 6052 158 750259 0501 554 300259 0501 295 250172 700
IRELAND0,910,9400634 782 220637 0002 162 13823 501 5002 820 18016 921 0802 820 18014 100 9001 880 120
GREECE1,471,5073555 771 9501 029 0003 466 90537 683 7504 522 05027 132 3004 522 05022 610 2503 014 700
SPAIN7,857,93248293 501 7605 495 00018 244 704198 312 00023 797 440142 784 64023 797 440118 987 20015 864 960
FRANCE19,5517,81269659 069 53013 685 00040 969 187445 317 25053 438 070320 628 42053 438 070267 190 35035 625 380
CROATIA0,000,225188 331 6600517 9145 629 500675 5404 053 240675 5403 377 700450 360
ITALY12,8612,53009463 613 3309 002 00028 819 207313 252 25037 590 270225 541 62037 590 270187 951 35025 060 180
CYPRUS0,090,111624 129 94063 000256 7262 790 500334 8602 009 160334 8601 674 300223 240
LATVIA0,070,116124 296 44049 000267 0762 903 000348 3602 090 160348 3601 741 800232 240
LITHUANIA0,120,180776 688 49084 000415 7714 519 250542 3103 253 860542 3102 711 550361 540
LUXEMBOURG0,270,255099 438 330189 000586 7076 377 250765 2704 591 620765 2703 826 350510 180
HUNGARY0,550,6145622 738 720385 0001 413 48815 364 0001 843 68011 062 0801 843 6809 218 4001 229 120
MALTA0,030,038011 406 37021 00087 423950 250114 030684 180114 030570 15076 020
NETHERLANDS4,854,77678176 740 8603 395 00010 986 594119 419 50014 330 34085 982 04014 330 34071 651 7009 553 560
AUSTRIA2,412,3975788 710 0901 687 0005 514 41159 939 2507 192 71043 156 2607 192 71035 963 5504 795 140
POLAND1,302,0073474 271 580910 0004 616 88250 183 5006 022 02036 132 1206 022 02030 110 1004 014 680
PORTUGAL1,151,1967944 281 230805 0002 752 61729 919 7503 590 37021 542 2203 590 37017 951 8502 393 580
ROMANIA0,370,7181526 571 550259 0001 651 74517 953 7502 154 45012 926 7002 154 45010 772 2501 436 300
SLOVENIA0,180,224528 307 240126 000516 3965 613 000673 5604 041 360673 5603 367 800449 040
SLOVAKIA0,210,3761613 917 920147 000865 1689 404 0001 128 4806 770 8801 128 4805 642 400752 320
FINLAND1,471,5090955 836 3301 029 0003 470 90737 727 2504 527 27027 163 6204 527 27022 636 3503 018 180
SWEDEN2,742,93911108 747 0701 918 0006 759 95373 477 7508 817 33052 903 9808 817 33044 086 6505 878 220
UNITED KINGDOM14,8214,67862543 108 94010 374 00033 760 826366 965 50044 035 860264 215 16044 035 860220 179 30029 357 240
TOTAL EU-27 & UK100,00100,003 700 000 00070 000 000230 000 0002 500 000 000300 000 0001 800 000 000300 000 0001 500 000 000200 000 000
4 000 000 0002 800 000 0002 100 000 0001 700 000 000


5.7.

(1) This document takes into account Articles 152 and 153 of the withdrawal agreement of the United Kingdom of Great Britain and Northern Ireland from the European Union and the European Atomic Energy Community, which stipulate that the United Kingdom shall remain party to the EDF until the closure of the 11th EDF and all previous unclosed EDFs; however the United Kingdom’s share in decommitted funds from projects under the 10th EDF or previous EDFs shall not be reused
(2) Internal Agreement between the Representatives of the Governments of the Member States of the European Union, meeting within the Council, on the financing of European Union 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 Treaty on the Functioning of the European Union applies (OJ L 210, 06.08.2013, p. 1-14).
(3) Council Regulation (EU) 2018/1877 of 26 November 2018 on the revised Financial Regulation applicable to the 11th European Development Fund (OJ L 307, 3.12.2018, p. 1–21).
(4) OJ L 210, 06.08.2013.
(5) OJ L 307, 3.12.2018.
(6) Gross commitments, i.e. without de-commitments being deducted.
(7) Gross payments, i.e. without recoveries being deducted.