EN Official Journal of the European Union L 336/58

DECISION No 1/2017 OF THE ACP-EU COMMITTEE OF AMBASSADORS

of 8 December 2017

regarding the implementation of Article 68 of the ACP-EU Partnership Agreement [2017/2357]

THE ACP-EU COMMITTEE OF AMBASSADORS,

Having regard to the Partnership Agreement between the Members of the African, Caribbean and Pacific Group of States, of the one part, and the European Community and its Member States of the other part (1), and in particular Article 100 thereof, in conjunction with its Articles 15(4) and 16(2),

Whereas:

(1) Article 68 of the Partnership Agreement between the members of the African, Caribbean and Pacific Group of States (‘ACP’) of the one part, and the European Community and its Member States, of the other part (‘the ACP-EU Partnership Agreement’) stipulates that a system of additional support mechanism is to be put in place in order to mitigate the short-term adverse effects resulting from exogenous shocks affecting the economy of ACP States. Paragraph 4 of that Article sets out that the modalities of the support mechanism are laid down in Annex II to the ACP-EU Partnership Agreement.

(2) The mechanism as currently defined in Annex II to the ACP-EU Partnership Agreement needs to be adapted to reflect the needs of the Parties and to ensure a flexible and rapid delivery of assistance.

(3) Article 100 of the ACP-EU Partnership Agreement stipulates that Annexes Ia, II, III, IV, and VI to the Agreement in question may be revised, reviewed and/or amended by the ACP-EU Council of Ministers on the basis of a recommendation from the ACP–EU Development Finance Cooperation Committee.

(4) Article 15(4) of the ACP-EU Partnership Agreement stipulates that the ACP-EU Council of Ministers may delegate powers to the ACP-EU Committee of Ambassadors.

(5) Article 16(2) of the ACP-EU Partnership Agreement stipulates that the ACP-EU Committee of Ambassadors shall carry out any mandate entrusted to it by the Council.

(6) The ACP-EU Council of Ministers meeting of 5 May 2017 mandated that the ACP-EU Committee of Ambassadors adopt a decision on the implementation of Article 68 of the ACP-EU Partnership Agreement regarding exogenous shocks and amending Annex II, Chapter 3.

(7) A decision on the implementation of Article 68 of the ACP-EU Partnership Agreement should be adopted,

HAS ADOPTED THIS DECISION:

Article 1

The financial support to ACP countries in the event of macroeconomic instability resulting from exogenous shocks, provided for in Article 68 of the ACP-EU Partnership Agreement, is governed by the provisions of this Decision.

Article 2

1. Additional financial support may be mobilised from the 11th European Development Fund reserve for unforeseen needs, in order to mitigate the short term adverse effects resulting from exogenous shocks, including the effects on export earnings, and safeguard the socioeconomic reforms and policies jeopardised by the drop in revenue.

2. ACP countries, struck by exogenous shocks, shall address a request for financial support to the European Commission for this purpose, which will be examined through a needs oriented case by case approach in the multi-annual financial framework of cooperation under the ACP-EU Partnership Agreement.

3. Assistance shall be administered and implemented under procedures permitting operations that are rapid, flexible and effective. The European Commission will report periodically to the ACP-EU Development, Finance Cooperation Committee.

Article 3

The Contracting Parties to the Agreement, the European Commission and the ACP Secretariat shall be informed of the practical implementation modalities of Article 68.

Article 4

Annex II, Chapter 3 of the ACP-EU Partnership Agreement shall be applied in accordance with this Decision.

Article 5

This Decision shall enter into force on the date of its adoption.

Done at Brussels, 8 December 2017. For the ACP-EU Committee of Ambassadors The President K. TAEL

(1) OJ L 317, 15.12.2000, p. 3.