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Vol. 1984/0 244 
  
 
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COMMISSION OF THE EUROPEAN COMMUNITIES
C O M (84) 633 f inal 
Brussels, 20 November 1984
E U R O P E A N  D E V E L O P M E N T  F U N D  (E D F)
E S T IM A T E S  O F  C O N T R IB U T IO N S  
R E Q U IR E D  T O  M E E T  E X P E N D IT U R E  IN  
T H E  F IN A N C IA L  Y E A R  1985
(Communication from the Commission to the Council)
C O M(84) 663 f inal

EUROPEAN DEVELOPMENT FUND (EPF)
Estimates of contributions required to meet,  
expenditure in 1985
INTRODUCTION
1. In accordance with the provisions of Article 6 of the  
Internal Agreement on the financing and administration of  
the Fifth European Development Fund, the present communi­
cation reviews the trends in expenditure from the EDF in  
1984, estimates the cash reguirements for the Fund in  
1985 and in the light of these figures, proposes the  
contributions to be made by the Member States to meet the  
needs of the Fund next year.
2. At the outset, it is useful to recall the common interest  
of the Commission and the Council that the annual contri­
butions to the EDF should be fixed at levels correspon­
ding to the cash reguirements of the Fund. In this  
regard, the accumulation of excess balances in the EDF in  
recent years has been disturbing. The Commission has  
been particularly concerned since the bulk of the balan­
ces are in treasury accounts held in national currencies  
(as distinct from working accounts held almost entirely  
in Ecus) which have, in some cases, involved significant  
foreign exchange losses. Following the discussion of the  
Commission Communication on the Fund reguirements for  
1984 (*), a thorough examination has been carried out of  
the flows and balances in the various bank accounts of  
the EDF in Europe and in the ACP States (85 accounts in  
all). As a result, tighter controls on the replenishment
(*) COM (83) 619 final dated 14.10.83-

-2-
of working accounts have been introduced which will  
enable the average balances in these accounts to be 
significantly reduced. The net result of these
innovations has been (i) to obviate the need to request  
the amount of 30 million Ecus authorised as an optional  
tranche of contributions to the EDF in 1984 by the  
Council Decision of 22 December 1983, and (ii) to offset  
expected surplus balances in the EDF at the end of the  
present year against estimated increased expenditure in  
1985. In addition, it is no longer considered necessary  
to include in the annual contributions amounts to cover  
expenditure arising between the end of next year and 20  
January 1986 when the first tranche of contributions for  
that year will be due for payment. This last element  
alone will save more than 80 million Ecus in 1985.
Expected cash requirements for 1984
3. In the first nine months of the present year, payments  
from the EDF totalled 524 million Ecus, equivalent to  
over 58 million Ecus per month. Continuation of this  
trend would give an annual figure for 1984 of 698 million  
Ecus. To this must be added 60 million Ecus in respect  
of payments between now and end 1984 under the system for  
stabilisation of export earnings (STABEX), resulting in  
total cash requirements of 758 million Ecus for the  
current financial year.
4. The actual cash position of the Fund between September  
and end - 1984 is estimated as follows :
Million Ecus
Balance on hands at 30 September 1984 320
Contributions payable on 1st October
(4th instalment 1984) 182
Interest on bank deposits for last
quarter of 1984 3
Total 505

-3-
Out of this amount, payments estimated at approx.  
234 million Ecus will have to be met in the last 3 months  
of the year, leaving a balance on hands at the end of  
1984 of 271 million Ecus. In line with the agreement in  
the Council discussions on the 1984 contributions, 110  
million of this amount will be required as a minimum cash  
reserve to enable the various bank accounts of the EDF to  
be kept continuously in funds so that 161 million Ecus 
will be available to reduce the contributions required  
for 1985.
Expenditure forecasts for 1985
5. As in previous years, forecasts of expenditure are based  
on the trends indicated by the rhythm of payment from the  
different European Development Funds in the past. The 2  
graphs annexed give details of the rate of liquidation of  
the Funds. As a result of the continuing winding down of  
the first 3 Funds, only 9 million Ecus are expected to be  
paid out from these Funds in 1985 (compared to 10 million  
Ecus this year) .  The downward phase of the 4th EDF  
continues to be marked and at the end of 1985 (its 10 th  
year) is estimated to be about 3 1/2% of the total (i.e.  
Ill million Ecus, compared to 191 million Ecus in 1984).  
These declines will, however, .  be more than offset by a  
substantial upswing in expenditure from the 5th EDF. In  
line with average trends in previous Funds, expenditure  
from the 5th EDF in 1985 is likely to rise to approx 16%  
of the total allocation (i.e. to 765 million Ecus as  
compared with 557 million Ecus in 1984).
6. To summarise in the context of cash requirements for  
1985, the position is as follows :
Expenditure 1985 Million Ecus
First 3 EDFs 9
4th EDF 111
5th EDF 765
(i)  Total expenditure 885

-4-
Cash requirements 1985
Forecast disbursements as at (i) 885
agreed minimum cash cushion 110
995
less balance on hands at end-1984 271
(ii)  Total cash requirements 724 (say 720)
7. The total contribution of 720 million Ecus for 1985 is  
10 Million Ecus less than that called up for the present  
year. As explained at § 2 above, it has been found  
possible to curtail the demand for contributions for next  
year - and this despite expectations of substantially  
increased expenditure (from 758 million Ecus this year to  
885 million Ecus in 1985) - partly because of the likely  
high end-year balance at December 1984 and also because  
of economies resulting from tighter management of the EDF  
treasury.
8. In accordance with Article 1 (2) of the Financial Regula­
tion of 17 March 1981 relating to the 5th EDF - which  
also covers contributions from earlier Funds - the  
contribution of 720 million Ecus will be called for in  
four equal instalments payable on :
Monday 21 January 1985 (20th Jan. being a Sunday)  
Monday 1 April 1985  
Monday 1 July 1985  
Tuesday 1 October 1985
The Commission wishes to impress on Member States the  
necessity to observe these deadlines for payment of the  
quarterly instalments of their contributions. The  
Council will be aware of the criticisms made by the  
European Parliament and by the Court of Auditors in  
regard to past delays (*). While there was considerable  
improvement in this respect in 1984, one Member State  
continues to be significantly late in paying its  
contributions. Apart from losses suffered by the EDF  
because of exchange fluctuations, such delays increase  
the difficulties of managing the Fund and demand recourse  
to higher balances than would normally be necessary.
(*) .  Resolution of the European Parliament relating to the  
discharge of the execution of EDF operations in 1982  
(O.J. C.127 of 14.5.84 page 41)
.  Annual report of the Court of Auditors relating to  
budget year 1982, chapter 15, point 15.13 (O.J. C 357  
of 31.12.83). The Court has also raised the matter in  
its examination of the 1983 accounts.

A N N E X E  1
RYTHME DE CONSOMMATION DU F.E.D.
%  PAIEMENTS /  DOTATIONS
LEGENDE
1r  FED - - - - - - - - - - - - - - - - - - - - - -
2e
 FED - - - - - - - - - - - - - - - - - - - - - -
3e
 FED - - - - - - - - - - - - - - - - - - - - - -
4e
 FED - - - - - - - - - - - - - - - - - - - - - -
5 e
 FED - - - - - - - - - - - - - - - - - - - - - - -

» ·  · 
14 ·  
»  «  
S O  . 
It· 
1 0  .R Y T H M E  D E  C O N S O M M A T IO N  D U  F .E .D .  
5 e F .E .D .: DOTATION TOTALE 4 802 OOO OOO,-ECUFIN D'ANNEE S  CONSOMMAT ÖNOOI Al CN
1· 4 .- 196
2 · 11.- 526
3 · 2 0 .- 946
4* (prévibon) S U , 1 4 7 2
5 ·
« ·
7 ·
8*
4 e F .E .D . :  DOTATION TOTALE 3 184 OOO OOO,- ECU
3 e F.E.D..DOTATION TOTALE 916 OOO OOO,-ECU
2 e F .E .D .: DOTATION TOTALE 731 OOO OOO,-ECUFIN 0  ANNEE 4t CONSOMMAltONiDOTAlCN
J· 3 - 96 -
2 ® 8 - 246 -
3e 18.- 577-
4· 31 - 995 -
5* 45 - 1  455 -
6° 56.50 1  900-
7e 67.50 22 0 6 -
8* 76 50 2491.-
*
FIN ANNEE < * . CONSOM M AT iON/OOIATON
1 · 3 . - 23 -
2° 8 . - 6 5 -
3° 16.— 164.80
4* 34. - 304 -
6° 5 5 .- 487 -
6° 69.70 8 1 8 -
7° 77.70 6 9 6 .-
8° 83,70 764 -
Fin ANNEE46 CONSOMMAI iON/DOIAÎKX
1“ 3 - 22 -
2e 7 - 54 -
3 · 1 3 .- 96 -
4® 2 3 ,- 164.-
5° 3 5 .- 264 -
6° 5 3 .- 3 8 3 -
7° 6 9 - 504 -
6 e
?81 - 582 -
1e F.E.D.:DOTATlON TOTALE 569 443 0 0 0 .' ECUFIN ANNEE4t CONSOMMAT ON.t)QT A T  (ON
1® 1 , - 3 -
2® 4 - 1 9 . -
3® 1 3 -73 -
4® 24 - 138 -
5® 38 - 2 2 1 .-
6® 5 3 . - 306 -
7® 6 7 , -3 6 3 .-
8®78 -444 -

ANNEX 3
European Development Fund - Financial year 1985  
Fourth EDF commitments
(million ECU)
Year Commitment for that year Aggregate
1976 383 383
1977 707 1.090
1978 564 1.654
1979 569 2.223
1980 508 2.731
1981 150 2.881
1982 102 2.983
31.12.83 28 3.011
31.8.84 16 3.027
31.12.84 6 *) 3.033
(*)Forecast on the basis of the programme forEDF Committee
meetings up to and including December 1984.
Fifth EDF commitments
(million ECU)
Date Financing decisions
31.12.1981 549 549
31.12.1982 1.003 1.552
31.12.1983 759 2.311
31.08.1984 456 2.767
31.12.1984 78*) 2.845
(*)  Forecast on the basis of the programme for EDF committee
meetings up to and including December 1984.

Annex 4
1985 CONTRIBUTIONS
MEMBER STATE PERCENTAGE BY  
MEMBER STATE5th EDF 
PER QUARTERGRAND TOTAL
BELGIQUE 5.8210.476.000,- 41.904.000,-
DANMARK 2.474.446.000,- 17.784.000,-
R.F. ALLEMAGNE 27.9250.256.000,- 201.024.000,-
FRANCE 25.2645.468.000,- 181.872.000,-
IRLANDE 0.591  .062.000,- 4.248.000,-
ITALIE 11.3420.412.000,- 81.648.000,-
LUXEMBOURG 0.20360.000,- 1.440.000,-
PAYS BAS 7.3013.140.000,- 52.560.000,-
ROYAUME UNI 17.7631.968.000,- 127.872.000,-
GRECE 1.342.412.000,- 9.648.000,-
TOTAL 100.-180.000.000,- 720.000.000,-