Financial information on the European Development Fund European Development Fund (EDF): forecasts of commitments, payments and contributions from Member States for 2020, 2021, 2022 and non-binding forecast for the years 2023-2024

1.Foreword

In accordance with Article 7(1) of the 11th European Development Fund (EDF) Internal Agreement and Article 19(2) of the Council Regulation (EU) 2018/1877 on the Financial Regulation applicable to the 11th European Development Fund (hereinafter referred to as "11th EDF Financial Regulation"), the Commission presents in this document the estimates of the commitments, payments and contributions for the period 2020-2022, taking into account the forecasts of the European Investment Bank (EIB).

This document sets out the financial implementation forecast of the EDFs (Eighth to 11th) for 2020 until 2022. In addition, this document makes non-binding estimates for the EDF contributions from the Member States for the years 2023-2024.

Member States contribute funds directly to the EIB for the instruments, which it manages under the Ninth, 10th, and 11th EDFs (the Investment Facility and interest rate subsidies).

2.Introduction

The Commission and the EIB have updated their commitment and payment forecasts for 2020, 2021 and 2022 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 Member States to assess as accurately as possible the amounts they need to earmark in their national budgets while ensuring that sufficient financial resources are available for the EDF to avoid liquidity problems.

In accordance with Article 7 of the 11th EDF Internal Agreement and Article 19(2) of the 11th EDF Financial Regulation, the estimates of commitments and payments have been updated following the latest forecasts.

The graph below shows the general evolution in gross commitments and payments since 1999 until 2019 and projections for the period 2020-2022 (Commission and EIB cumulated amounts).





Gross commitments and payments: trend 1999-2022 (EUR million)

* Forecasts for 2020-2022

Note: Figures from implementation of the European Development Funds until 31 December 2019 (commitments and payments) and forecasts for 2020-2022.

3.Financial forecasts for 2020 - 2022 (EUR million)

The following table provides an update of the commitments, the payments and of the contributions, based on the Commission's latest forecasts.

Forecasts 2020-2022 (*) 2020 2021 2022 Commitments Commission 3 267 0 0 EIB 962 0 0 Total 4 229 0 0 Payments Commission 4 934 3 700 2 500 EIB 588 540 490 Total 5 522 4 240 2 990 Contributions Commission (11th EDF) 4 400 3 700 2 500 EIB (10th EDF) 300 70 0 EIB (11th EDF) 0 230 300 Total 4 700 4 000 2 800

* 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 Union.

** Taking into account that the Commission has proposed to carry out development and international cooperation for the period 2021-2027 with new implementation modalities, the Commission has decreased its estimates of payments under the EDFs and therefore of the annual amount of the contributions for 2020 and of the ceiling for the annual amount of the contributions for 2021.