Considerations on COM(2012)387 - Financial contributions to be paid by the Member States to finance the European Development Fund in 2012, including the 2nd instalment 2012 - Main contents
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dossier | COM(2012)387 - Financial contributions to be paid by the Member States to finance the European Development Fund in 2012, including the 2nd ... |
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document | COM(2012)387 |
date | July 10, 2012 |
(2) The Council has adopted on the 18th of November 2011, on a proposal made by the Commission, the decision to fix at EUR 3.600.000.000 the Commission's share and at 280.000.000 the EIB's share of the annual amount of the Member States contributions to the EDF for 2012.
(3) In accordance with Article 7(3) of the 10th EDF Internal Agreement, if the contributions decided deviate from EDF's actual needs, the Commission should submit a proposal to the Council to amend the contribution amounts within the ceiling already decided. Due to lower than forecasted payments in 2011 and the fact that a considerable cash balance was carried over from 2010, The Commission evaluates that it is justified to reduce its request to EUR 2.600 million Therefore, a revised amount of the Member States contributions to the EDF for 2012 allocated to the Commission should be set at 2.600.000.000 EUR.
(4) In accordance with the first paragraph of Article 145 of the 10th EDF Financial Regulation, the European Investment Bank has sent the Commission its updated estimates of commitments and payments under the instruments it manages.
(5) Article 58(2) of the 10th European Development Fund (hereafter 'the EDF') Financial Regulation provides that calls for contributions first use up the amounts provided for previous EDFs. Therefore a call for funds under the 9th EDF should be made also on the basis of Article 58 (2) of the 10th EDF Financial Regulation for the EIB.