1. INTRODUCTION

In accordance with Article 7(1) and (5) of the Internal Agreement[1], the Commission presents in this document estimates of commitments, payments and contributions for the period 2011 to 2013[2], taking into account the forecasts of the European Investment Bank (EIB). The Member States contribute funds directly to the European Investment Bank for the instruments which it manages under the 9th and 10th EDFs (the Investment Facility and interest-rate subsidies). Therefore this communication draws a clear distinction between funds managed by the EIB under the 9th and 10th EDFs and those managed by the Commission.

The graph below shows the general trend in gross commitments and payments, including projections for 2011-2013 (Commission and EIB cumulated). It clearly shows the structural upward trend in commitments and disbursements since 1997, due to a speed up in the implementation of aid. As anticipated since 2008, the gap between the commitments and the payments decreased in 2009 and 2010, thus reflecting a trend where the payment levels get closer to commitment levels. The level of 2010 payments was the highest in the EDF history and the commitment level at end 2010 reached 50% of the 10th EDF.

EC + EIB gross commitments and payments: trend 1997-2013 [pic]

2. Financial forecasts for 2011 – 2013[3]

THE FOLLOWING TABLE PROVIDES AN UPDATE OF THE COMMITMENTS, THE PAYMENTS AND OF THE CONTRIBUTIONS, based on our latest forecasts.

2011 | 2012 | 2013 |

Commitments[4] |

Commission | 3 250 | 3 750 | 3 900 |

EIB | 579 | 540 | 590 |

Payments |

Commission | 3 500 | 3 650 | 3 900 |

EIB | 385 | 390 | 390 |

Contributions |

Commission | 3 100 | 3 600 | 3 800 |

EIB | 200 | 280 | 250 |

3. FINANCIAL IMPLEMENTATION FORECASTS FOR 2011 - 2013

The Commission and the EIB have updated their commitment and payment forecasts for 2011 and 2012 for each of the ACP[5] countries and the OCTs[6]. The result and the amount of contributions necessary to finance the EDF for 2011 to 2013 are set out in Annexes 1 to 3 where they are compared with the figures given in the June 2011 communication[7].

The EIB notes that the estimated 2011 year-end balance is mainly based on a forecast of the capital and interest repayments, a large part of which is due in mid-December. These repayments are unpredictable and may be early or late.

The contributions 2011 and 2012 by instalment and by Member State are presented in the Annexes 4 and 5 .

ANNEXES

Annex 1 – Forecasts of gross commitments [8] for 2011-2013 (EUR million)

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Annex 2 – Forecasts of gross payments [9] for 2011-2013 (EUR million)

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Annex 3. Financial situation estimated for 2011, 2012 and 2013

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Annex 4. Contributions to the EDF for 2011 by Member State (EUR) [pic]

Annex 5 (1 st part). Contributions to the EDF for 2012 by Member State (EUR) [pic]

Annex 5 (2 nd part). Contributions to the EDF for 2012 by Member State (EUR) [pic]

[1] Internal Agreement between the Representatives of the Governments of the Member States, meeting within the Council, on the financing of Community aid under the multiannual financial framework for the period 2008 to 2013 in accordance with the ACP-EC Partnership Agreement and on the allocation of financial assistance for the Overseas Countries and Territories to which Part Four of the EC Treaty applies (OJ L 247, 9.9.2006, p. 32).

[2] As the financial framework for the period after 2013 has not been agreed and is expected to have a material impact on the implementation figures, we prefer not to present any forecasts for commitments, payments and contributions for the years 2014 - 2016 (Commission and EIB).

[3] The figures 2014-2016 will be updated after the adoption of the financial framework 2014 - 2020.

[4] 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.

[5] African, Caribbean and Pacific States

[6] Overseas Countries and Territories

[7] COM(2011)334 final of 09.06.2011

[8] Gross commitments, i.e. without decommitments being deduced

[9] Gross payments, i.e. without recoveries being deduced