EUROPEAN COMMISSION Brussels, 9.6.2022 COM(2022) 264 final COMMUNICATION FROM THE COMMISSION TO THE COUNCIL Financial information on the European Development Fund



































European Development Fund (EDF): Financial execution 2021 and forecasts for 2022-2025













1.Foreword In accordance with Article 19(4) 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 commitments, payments and contributions made in 2021 and to be made in the years 2022 and 2023, taking into account the forecasts of the European Investment Bank (EIB). This document sets out the financial implementation of the EDFs (Ninth to 11th) for 2021 and the forecasts of implementation for 2022 and 2023. The parties to the European Development Fund 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 forecasts for 2022 and 2023 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 parties to the European Development Fund 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 19(4) 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 2021 and projections for the period 2022-2023 (Commission and EIB cumulated amounts). Gross commitments and payments: trend 1999-2023 (EUR million)

Note: Figures from implementation of the European Development Funds until 31 December 2021 (commitments and payments) and forecasts for 2022-2023. 3.Financial actuals 2021 and forecasts for 2022 - 2023 (EUR million) The following table provides an update of the commitments, the payments and of the contributions, based on the Commission's latest forecasts. Actuals 2021 and Forecasts 2022-2023 (*) 2021 2022 2023 Commitments Commission 0 0 0 EIB 179 0 0 Total 179 0 0 Payments Commission 3 435 2 500 1 800 EIB 613 987 858 Total 4 048 3 487 2 658 Contributions Commission (11th EDF) 3 700 2 500 1 800 EIB (10th EDF) 70 0 0 EIB (11th EDF) 230 300 300 Total 4 000 2 800 2 100 * 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. 4.Non-binding Estimates of contributions for 2024 – 2025 (EUR million) Forecasts 2024-2025 (*) 2024 2025 Contributions Commission (11th EDF) 1.500 900 EIB (11th EDF) 300 9 Total 1.800 909 *Art.19 (2) 11th EDF Financial Regulation (EU 2018/1877): indicative, non-binding forecast based on a statistical approach for the expected annual amounts of contributions 5. Financial implementation for 2021, forecasts for 2022 and 2023 The year 2021 was the first year without any new commitments, since the sunset clause of the 11th EDF was reached on the 31st December 2020. Overall, the Commission and the EIB have managed to commit more than 99.8% of the total 11th EDF envelope. The EDF payments in 2021 amounted to EUR 4 048 million, which represents an execution rate of 92.53% compared to the annual target of EUR 4 375 communicated to the Council in June 2021. In what concerns the Commission part of EDF payments for 2021 (EUR 3 435 million), due to the prolonged COVID situation, 50% of Delegations in Sub-Saharan Africa did not reach their payment target. In addition, in some countries political crises affected operations severely, preventing or reducing a number of budget support payments (Ethiopia, Guinea Conakry, and Mali). In the Pacific and in the Caribbean, COVID restrictions also affected the implementation. Furthermore, in Fiji and in Haiti, the negative collateral effects emanating from the deterioration of the economic, social and political situation had a devastating impact on infrastructure projects. The year 2021 also marked the financial and operational closure of the Eighth EDF (total amount of expenditure of EUR 10 374 million). Detailed financial and operational information on Eighth EDF operations is presented in the 2021 EDF annual accounts. With respect to the non-committed and decommitted funds from the Eighth and Ninth EDF, there have already been four refunds to the “EU-15 MS” for a total amount of EUR 1 869 million (including EUR 43 million in January 2022). Any remaining balances in the Ninth EDF reserve will continue, in principle, to be refunded once a year until the complete restitution of non-committed or decommitted funds. Attachments 1, 2 and 3 show actuals for 2021 and forecasts of payments for the period 2022-2023.The financial situation for each year is compared to previously communicated forecasts. Attachments 4 and 5 show contributions for 2022 and for 2023 per instalment and per Member State and for the United Kingdom (UK), respectively. Attachment 6 shows the yearly contributions for the period 2022-2025 per Member State and for the UK. Attachment 7 shows the state of reserves of decommitted for each EDF at 31.12.21.

5.1.Attachment 1: Actual commitments for 2021 and Forecasts for 2022-2023 (EUR million) Figures for 2021 Figures for 2022 Figures for 2023 Communication October 2021 Communication June 2022 Communication October 2021 Communication June 2022 Communication October 2021 Communication June 2022 Regions Eastern and Central Africa West and Southern Africa Caribbean Pacific Sub-total Other Human Development, Human rights EU-Africa, African Peace Facility EUTF Africa Planet and Prosperity Resources, Evaluation, Process DG ECHO, EACEA, DG EAC Sub-total Total European Commission 0 0 0 0 0 0 Investment Facility subsidies (*) Total EIB 0 0 0 0 0 0 TOTAL EC+EIB 0 0 0 0 0 0 * Including subsidy for technical assistance and interest rate subsidies from the current EDF and IRS disbursement under previous EDFs Figures for 2021 Figures for 2022 Figures for 2023 Communication October 2021 Communication June 2022 Communication October 2021 Communication June 2022 Communication October 2021 Communication June 2022 Investment facility revolving fund** 300 179 0 0 0 0 **The commitment under the revolving fund cannot be assimilated to budgetary commitments. It shall be therefore reported separately. 5.2.Attachment 2: Actual payments for 2021, and forecasts for 2022 and 2023 (EUR million) Figures for 2021 Figures for 2022 Figures for 2023 Communication October 2021 Communication June 2022 Communication October 2021 Communication June 2022 Communication October 2021 Communication June 2022 Regions Eastern and Central Africa 905,0 769,6 506 West and Southern Africa 1 317,2 1 090,5 1 003 Caribbean 194,1 153,0 156 Pacific 118,9 93,1 84 Sub-total* 2 535,2 2.106,2 1 749 Other Human Development, Human rights 100,9 120,1 60 EU-Africa, African Peace Facility 223,5 167,0 95 EUTF Africa 483,9 634,0 331 Planet and Prosperity 338,5 337,7 198 Resources, Evaluation, Process 55,3 56,8 52 DG ECHO, EACEA, DG EAC 26,1 12,8 15 Sub-total* 1 228,2 1 328,4 751 Total European Commission* 3 763,4 3 434,6 2 500 2 500 1 800 1 800 Investment Facility subsidies (**) 40 27 40 233 40 208 Total EIB*** 40 27 40 233 40 208 TOTAL European Commission + EIB* 3 803,43 3 462 2 540 2 733 1 840 2 008 *Due to the rounding effects, the sum of individual rounded amounts shown may differ slightly from the corresponding totals ** Including subsidy for technical assistance and interest rate subsidies from the current EDF and IRS disbursement under previous EDFs Figures for 2021 Figures for 2022 Figures for 2023 Communication October 2021 Communication June 2022 Communication October 2021 Communication June 2022 Communication October 2021 Communication June 2022 Investment facility revolving fund *** 572 586 609 754 609 650 *** The disbursement under the revolving fund cannot be assimilated to budgetary gross payment. It shall be therefore reported separately. 5.3.Attachment 3: Financial situation for 2021, forecasts for 2022-2023 and non-binding estimations for 2024-2025 (EUR million) Communication October 2021 1 Communication June 2022 1 Commission EIB 6 TOTAL Commission EIB 6 TOTAL Balance at 31/12/2020 4 728 436 1 164 728 436 1 164 2021 Member States & UK Contributions for 2021: 3 700 300 4 000 3 700 300 4 000 1st instalment 1 600 70 1 670 1 600 70 1 670 2nd instalment 1 200 130 1 330 1 200 130 1 330 3rd instalment 900 100 1 000 900 100 1 000 Reflows 2 276 276 350 350 Contrib. & Adjust. 2022 received in 2021 0 0 156 0 156 Recoveries, interest and adjustment 55 55 68 68 Refund of 8th 9th EDF - 223 - 223 - 223 - 223 Total payments 3 - 3 763 - 612 - 4 375 - 3 435 - 613 - 4 048 Balance at 31/12/2021 4 497 400 896 994 472 1 467 2022 Member States & UK Contributions for 2022: 2 500 300 2 800 2 500 300 2 800 1st instalment 1 100 100 1 200 1 100 100 1 200 2nd instalment 800 100 900 800 100 900 3rd instalment 600 100 700 600 100 700 Reflows 2 289 289 348 348 Contrib. & Adjust. 2022 received in 2021 - 156 Recoveries, interest and adjustment 40 40 40 40 Refund of 9th EDF - 43 - 43 - 43 - 43 Total payments 3 - 2 500 - 649 - 3 149 - 2 500 - 987 - 3 487 Balance at 31/12/2022 4 494 340 833 835 133 969 2023 Member States & UK Contributions for 2023: 1 800 300 2 100 1 800 300 2 100 Reflows 2 292 292 384 384 Recoveries, interest and adjustment 0 0 Total payments 3 - 1 800 - 649 - 2 449 - 1 800 -858 - 2 658 Balance at 31/12/2023 4 494 283 776 835 -417 795 2024 Member States & UK Contributions for 2024 5 1 500 300 1 800 1 500 300 1 800 2025 Member States & UK Contributions for 2025 5 900 9 909 900 9 909 1 Funds available for operations; 2 Net of write-offs, EIB management fees and other costs such as swaps/hedging; does not include the UK share of reflows,

according to art. 153 of the Withdrawal Agreement these shall not be reused. Refer to IF Financial Statements for full details. 3 Including interest rates subsidies under the previous EDFs; 4 Balances do not include: (i) Cofinancings received, (ii) Receipts in bank not yet allocated to a specific EDF line 5 Art.19 (2)(d): Financial Regulation: non-binding forecast based on a statistical approach for the expected annual contributions 6 7 Art.19(1), calls for contributions shall first use up the amounts laid down for previous EDFs, one after the other. Due to the nature of the Investment Facility, please consult the IF Financial Statements for the complete view and detailed balance as at year end 5.4. Attachment 4: Member States and the UK contributions for 2022 (EUR) MEMBER STATES & UK Key 11th EDF % 1st instalment 2nd instalment 3rd instalment Total EIB Total

Commission Total 2022 Commission EIB Commission EIB Commission EIB 11th EDF 11th EDF 11th EDF 11th EDF 11th EDF 11th EDF BELGIUM 3,24927 35 741 970,00 3 249 270,00 25 994 160,00 3 249 270,00 19 495 620,00 3 249 270,00 9 747 810,00 81 231 750,00 90 979 560,00 BULGARIA 0,21853 2 403 830,00 218 530,00 1 748 240,00 218 530,00 1 311 180,00 218 530,00 655 590,00 5 463 250,00 6 118 840,00 CZECHIA 0,79745 8 771 950,00 797 450,00 6 379 600,00 797 450,00 4 784 700,00 797 450,00 2 392 350,00 19 936 250,00 22 328 600,00 DENMARK 1,98045 21 784 950,00 1 980 450,00 15 843 600,00 1 980 450,00 11 882 700,00 1 980 450,00 5 941 350,00 49 511 250,00 55 452 600,00 GERMANY 20,57980 226 377 800,00 20 579 800,00 164 638 400,00 20 579 800,00 123 478 800,00 20 579 800,00 61 739 400,00 514 495 000,00 576 234 400,00 ESTONIA 0,08635 949 850,00 86 350,00 690 800,00 86 350,00 518 100,00 86 350,00 259 050,00 2 158 750,00 2 417 800,00 IRELAND 0,94006 10 340 660,00 940 060,00 7 520 480,00 940 060,00 5 640 360,00 940 060,00 2 820 180,00 23 501 500,00 26 321 680,00 GREECE 1,50735 16 580 850,00 1 507 350,00 12 058 800,00 1 507 350,00 9 044 100,00 1 507 350,00 4 522 050,00 37 683 750,00 42 205 800,00 SPAIN 7,93248 87 257 280,00 7 932 480,00 63 459 840,00 7 932 480,00 47 594 880,00 7 932 480,00 23 797 440,00 198 312 000,00 222 109 440,00 FRANCE 17,81269 195 939 590,00 17 812 690,00 142 501 520,00 17 812 690,00 106 876 140,00 17 812 690,00 53 438 070,00 445 317 250,00 498 755 320,00 CROATIA 0,22518 2 476 980,00 225 180,00 1 801 440,00 225 180,00 1 351 080,00 225 180,00 675 540,00 5 629 500,00 6 305 040,00 ITALY 12,53009 137 830 990,00 12 530 090,00 100 240 720,00 12 530 090,00 75 180 540,00 12 530 090,00 37 590 270,00 313 252 250,00 350 842 520,00 CYPRUS 0,11162 1 227 820,00 111 620,00 892 960,00 111 620,00 669 720,00 111 620,00 334 860,00 2 790 500,00 3 125 360,00 LATVIA 0,11612 1 277 320,00 116 120,00 928 960,00 116 120,00 696 720,00 116 120,00 348 360,00 2 903 000,00 3 251 360,00 LITHUANIA 0,18077 1 988 470,00 180 770,00 1 446 160,00 180 770,00 1 084 620,00 180 770,00 542 310,00 4 519 250,00 5 061 560,00 LUXEMBOURG 0,25509 2 805 990,00 255 090,00 2 040 720,00 255 090,00 1 530 540,00 255 090,00 765 270,00 6 377 250,00 7 142 520,00 HUNGARY 0,61456 6 760 160,00 614 560,00 4 916 480,00 614 560,00 3 687 360,00 614 560,00 1 843 680,00 15 364 000,00 17 207 680,00 MALTA 0,03801 418 110,00 38 010,00 304 080,00 38 010,00 228 060,00 38 010,00 114 030,00 950 250,00 1 064 280,00 NETHERLANDS 4,77678 52 544 580,00 4 776 780,00 38 214 240,00 4 776 780,00 28 660 680,00 4 776 780,00 14 330 340,00 119 419 500,00 133 749 840,00 AUSTRIA 2,39757 26 373 270,00 2 397 570,00 19 180 560,00 2 397 570,00 14 385 420,00 2 397 570,00 7 192 710,00 59 939 250,00 67 131 960,00 POLAND 2,00734 22 080 740,00 2 007 340,00 16 058 720,00 2 007 340,00 12 044 040,00 2 007 340,00 6 022 020,00 50 183 500,00 56 205 520,00 PORTUGAL 1,19679 13 164 690,00 1 196 790,00 9 574 320,00 1 196 790,00 7 180 740,00 1 196 790,00 3 590 370,00 29 919 750,00 33 510 120,00 ROMANIA 0,71815 7 899 650,00 718 150,00 5 745 200,00 718 150,00 4 308 900,00 718 150,00 2 154 450,00 17 953 750,00 20 108 200,00 SLOVENIA 0,22452 2 469 720,00 224 520,00 1 796 160,00 224 520,00 1 347 120,00 224 520,00 673 560,00 5 613 000,00 6 286 560,00 SLOVAKIA 0,37616 4 137 760,00 376 160,00 3 009 280,00 376 160,00 2 256 960,00 376 160,00 1 128 480,00 9 404 000,00 10 532 480,00 FINLAND 1,50909 16 599 990,00 1 509 090,00 12 072 720,00 1 509 090,00 9 054 540,00 1 509 090,00 4 527 270,00 37 727 250,00 42 254 520,00 SWEDEN 2,93911 32 330 210,00 2 939 110,00 23 512 880,00 2 939 110,00 17 634 660,00 2 939 110,00 8 817 330,00 73 477 750,00 82 295 080,00 UNITED KINGDOM 14,67862 161 464 820,00 14 678 620,00 117 428 960,00 14 678 620,00 88 071 720,00 14 678 620,00 44 035 860,00 366 965 500,00 411 001 360,00 TOTAL EU-27 & UK 100,00 1 100 000 000,00 100 000 000,00 800 000 000,00 100 000 000,00 600 000 000,00 100 000 000,00 300 000 000,00 2 500 000 000,00 2 800 000 000,00