1.Foreword

The 11th European Development Fund (EDF) 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, 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 and Articles 57(3) and (4) of the 10th EDF Financial Regulation, 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) 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 and Article 57(5) of the Financial Regulation, 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)

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.

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.