ARCHIVESHISTORIQUES
DELACOMMISSION
COLLECTION RELIEEDES
DOCUMENTS "COM"
COM(75)551
Vol.1975/0206

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COMMISSION OFTHEEUROPEAN COMMUNITIES
■
COM(75)551 final .
Brussels ,7November 1975 *
ι
i
COMMISSION COMMUNICATION TOTHE COUNCIL
ι
Γ'
EUROPEAN DEVELOPMENT FUND (E.D.F. )
ESTIMATES AND SCHEDULE OFCONTRIBUTIONS TOBECALLED FOR
ADDITIONAL CONTRIBUTION FOR1975 AND
rCONTRIBUTIONS FOR1976 . 1
\■<
•(.
COM (75)551final .

UnderArticle3oftheInternalAgreementonthefinancingand
administration ofCommunityaidtheCommissionmustdrawupandtransmit
totheCouncileachyearestimatesofEDFfinancialoperationsforthe
followingbudgetyear,and,onthisbasis,preparethescheduleofcontri­
butionstobecalledfor,takingintoaooounttheEDP'scashrequirements#
Accordingly ,thepurposeofthisCommunication istoassessthe
EDP'scashrequirementsfortheendof1975andfor1976,andhencedecide
whatcontributions willbeneoessary* '
TheCommissionoonsidersthattheMemberStates*contributions for
the1976budgetyearshouldbe230millionunitsofaooountpayableintwo
equalinstalments on20Januaryand1July1976*
Theargumentssetoutbelowshowhowvitalitistoreconstitute
cashresourcesbeforetheendofthe1975budgetyear#Accordingly,the
Commissionasksthatanurgentcallbemadeforanadditionalcontribution
of40millionunitsofaccountforthisyear*
/■

2
A.CALL FOR ANADDITIONAL CONTRIBUTION FOR THE 1975 BUDGET YEAR
Anexamination oftheEuropean Development Fund 'scash position
shows that thesafety margin which isnecessary ifdisbursements aretobe
made asandwhere required has "become disturbingly narrow *
TheCommission istherefore obliged toasktheMember States for
anadditional contribution of40million u*a*for1975 "tobring theEDF's
resources back totherequisite level *
Pursuant tothethird subparagraph ofArticle 3(2)ofthe
Internal Agreement this additional contribution must bemade assoon as
possible toavoid anybreakdown indisbursements *
Thetable below shows theprobable trend ofresources and
expenditure uptotheendof1975 *
(million u*a*)
Payments Resources
30.2 Cash available at1January 1975
Member States' contributions
(first sixmonths )90*0
120*2
Expenditure forfirst sixmonths of1975 74*6
Advances granted between 1January
and30June 1975 13*6
88*2
Cash balanoe at30June 1975
Contributions for seoond six months32*0
90*0
122.0
Expenditure :July
August
September34*0
21*1
16*6
71.7
Cash balance atendSeptember 1975 50*3
VIII/531/75-E
Orig.F

Theamountpaidout"bytheEDFinthefirst
1975wouldtherefore "beasfollows:threequartersof
firstsixmonths 88s2millionu«a*
thirdquarter 71«7
159.9
Thefiguresforthelastfiveyearsshould "betakenasabasis
forestimatingexpenditureforthelastquarterof1975<
-1970 36*0millionu»a«
-1971 39.9""
-1972 44.6""
-1973 47.0»
-1974 54.4"
Itcanbeseenthattheexpenditureforthelastquarterofeaoh
yearhasincreasedsteadily "bymorethanlOjSonaverage#
This"beingthecase,expenditureforthelastquarterof1975
would "beasfollows 1
–lastquarterof1974x10$■about60millionu«a«
Totalexpenditurefor1975shouldthereforebeI
–firstthreequarters 159.9millionu«a«
–lastquarter approx*60#0n"
Totalfor1975approx.220.0""
OnthisbasistheEDFfsoashresouroeswouldbeasfollowst

4.
30*2millionu.a.
180.0""
210.2"n
Excessexpenditure wouldthereforebeintheregionof10million
unitsofaocount. •-
Abreakdownindisbursements couldthereforeoccurfromtheend
ofNovember.
■Theadditionalcontribution of40millionunitsofaccountwhich
hasbeenrequestedwouldonlyreconstitute thefundsthePayingAgentsrequire
tobeabletomakedisbursements scheduledforJanuary1976,pendingthefirst
instalmentofcontributions for1976.Attheendof1974therewasabalance
ofabout30millionunitsofaccount.Attheendof1975availabilities will
againbeintheregionof30millionunitsofaccount,takingintoaccountthe
additionalcontribution requested.Inviewoftheneedtoprovidesomethirty
payingagencieswithenoughcashtobeabletooperate,itwouldbedifficult
ifnotimpossibletogobelowthislimit.
B.CALLFORCONTRIBUTIONS FOR1976
ThetablesannexedtothisCommunication give:
a)anestimateofcommitmentsin1976undertheseoondandthirdEDFs;
b)anestimateoftotaldisbursements for1976underthethreeFunds}
o)hence,thescheduleofcontributionstothethirdEDFtobecalledfor
fromtheMemberStatesfor1975andfor1976i
d)thecontributionssituationat31Deoember1976*Resources
–Balanceat1January1975
–Contributions fortheyear
Totalresources .
Excèssexpenditure
unitsofaooount.
»/·

Thepurposeofthesecontributions istoprovidetheEDFwith
sufficient cashtobeabletomakedisbursements *
Itisestimatedthatabout230millionunitsofaccountwillbe
neededin1976;"thiswillbeoalledforintwoinstalmentsof115million
u.a.,thefirstpayableon20January1976andthesecondon1July1976.
laTheEDF*scashresourcesin1976
ThetablebelowshowBtheprobabletrendofresourcesandexpen­
ditureuptotheendof1976:
Cashavailableat1January1976
(includingtheadditionalcontribution
oalledforhere)
Contributions for1976
Disbursements scheduledfor1976
Cashbalanceattheendof1976(millionu.a.)
Payments
230.0Resources
30.0
230.0
260.0
30.0
2.Estimatedexpenditurefor1976
Anexaminationofexpenditure byyearandFundbringstolight
anumberofconstants,onthebasisofwhichaforecastcanbemade.
l)ThefirstEDF
Since1970theFundhasbeenrunningoutofresourcestandat
theendofAugust1975thepercentageofdisbursements inrelationto
commitmentswasabout98*S/&«

Expenditure ,whiohincreasedsteadilyoverthefirstsix
years(i960to1965)fellfairlysharplyfromtheseventhyearonwards*
Expenditure wasintheregionof10millionunitsofaccount
perannumfrom1971until1973"butfelltofivemillionunitsofaccount
in1974*Disbursements for1975shouldbeabout2*5millionunitsofaccount,
andthisfigureshouldremainsteadyforthenexttwoyears#
2)ThesecondEDF
Expenditure undarthesecondFundincreasedatvirtuallythe
samerateasunderthefirstFundforthefirstsixyears(1965to1970),
reaching131millionunitsofaccountin1970*In1971?however,thisfell
to111millionunitsofaccount,andwasdownto26millionunitsofaccount
in1975andaround15millionunitsofaccountin1976#
.ι
Inanycase,attheendofAugust1975thepercentageof
disbursements inrelationtothefundsavailableunderthefirst?aound£ t
Convention,thatis730millionunitsofaccount,plus9millionunitsof
accountleftoverfromthefirstFund,was90«9$«Thisfigure,whichshould
riseto92*0$6bytheendoftheyear,shouldbethesane,giveortakea
fewpercent,asthatforthefirstEDFattheendoftheeleventhyear*
3)ThethirdEDF
At31August1975expenditure underthethirdEDFwas419
millionunitsofaccount,thatisl8lmillionunitsofaccountmorethan
at31August1974*Suchbigincreasewithinthespaceofoneyearis
entirelyduetotheeffortstheEDFauthorities andtheCommissionDelegates
havemadetospeeduptheimplementation ofprojectsandreducetheamount
ofredtapewhichhastraditionally ledtodelaysinoonvertingcommitments
intodisbursements *

7
By31Augustlast,46*4$ofthethirdEDFhadbeenspent*
Thisfigurewasreachedabout18monthsearlierthaninthecaseof
thesecondEDFandtwoyearsearlierthaninthecaseofthefirstEDF*
Expenditure tinderthethreeFundsshouldbeasfollows
in1976*
»
FirstEDF 2millionu*a*
SecondEDF 15"w
ThirdEDF 213""
Total230millionu*a*
BBSaaBSSBBBBBSea
#4
ItappearsthatexpenditureundertheFundstalmostallof
whichisnowunderthethirdEDF,hasreachedanewhighinrelation
toexpenditurein1974(about170millionunitsofaocount)*Itwill
probablybeintheregionof220millionunitsofaccountin1975t
whichmeansthatanadditionalcontribution of40millionunitsof
accountwillberequiredsinoetheCommissionhadexpectedthatonly
180millionunitsofaccountwouldhavetobepaidoutthisyear*
TheCommission^estimateofdisbursements for1976–230millionunits
ofaccount(anincreaseofabout5$over1975)–isaconservative one*
However,itconsidersthatthereislittlelikelihoodofthisfigure
beingexceeded,sinceexperienoehasshownthatEDFexpenditure doesnot
increasecontinuously ,butinsuccessivestages*Thenewlevelreached
in1975shouldremainmoreorlessthesamein1976
1II/531/75-E
Orig*F

8.
SUMMINGUPsTheEDF'srequirement aandresouroesfor1975emd1976;I
canbesummarized asfollowst
(millionu.a.)
Expenditure Resources
Cashbalanceat1January1975 30.2
contribution forthefirst
sixmonthsof1975 90.0
Disbursements forthefirst
sixmonthsof1975* 88*2120.2 <
Cashzbalanceat30June1975 32.0
contribution fortheseoond
sixmonthsof197590.0
""122.0
Disbursements a)thirdquarter197571.7
b)scheduledforfourth
quarter1975 60.0
131.7
Cash:estimateddeficitfor1975
(131.7-122-9.7) -10.0
additionalcontribution +40.0
Cashbalanceatend1975 30.0
contribution for197° 230.0
Disbursements for1976 230.0
.Cashbalancefor1976 30.0
\
η
d- . .
■ ■■ ' ■'•/•
111/531/75-E
Orig.P

9*
EDF-1976
ESTIMATES
A»ESTIMATE ofcommitments for1976 (million u«a«)
2nd EDF 10
3idEDF 55
65 1
B.ESTIMATE ofdisbursements for1976 (million u«a»)
: : : :
Balance at :Disbursements :Balance at :Disbursements :Balance at
1January 1975 * 1975 *end1975 * 1976 :erdl976
'1st EDF 2:
11st EDF 2:
:2nd EDF 22 :2nd EDF 15
.3rdEDF 196:
1'3rd EDF 213:
:
a):
30.2 * 220 :(b)
:t
30 :
t230 î(c)
t30
(a)Balance ofcontribution forpreoeding year (1974 )
(b)Taking into account theadditional contribution called for
(o)Taking into account thecontribution for1976 (230million u*a»)
Orig .F

-10-
C.CONTRIBUTIONS TOBECALLED FOR (under thethird EBP)(Annex )
(inu.a.)
Member State * Additional contri"bution
for1975Contributions for 1976 Total
Germany 33,17 13.268.000 76.291.000 89.559 .OOO
IPrance 33,17 13.268.000 76.291.000 89.559.OOO
Italy 15,61 6.244.000 35.903.000 42.147.000
IBelgium 8,89 3.556.000 20.447.000 24.003.000
Netherlands 8,89 I 3.556.000 20.447.000 24.003.000
Luxembourg 0,27 108.000 621.000 729.000
/
TOTAL 100,–
I40.000.000 230.000.000 270.000.000
v111/531/75-E
Orig .P

D.THIRDEPF-COUTRIBUTIOITS SITUATIONAT31DECMBER1976
(calledforandto"becalledfor)(Annex)
(intua.)
Contributions due Contributions called
foruptoamountdue
on1July1975Totalamountcalled
forin1976plus
additional contribu­
tionfor1975
(seeTableC)Totalcontributions I
calledfor(upto j
31December1976)Ballancetobecalled
for(after31December
I976)
Member
StateAmount
Germany
Prance
Italy
Belgium
Hetherlandt
Luxembourg300.158.333,50
300.158.333,50
141.381.111,00
80.444.444,50
380.444.444,50
I2.413.333,0033,17
33,17
15,61
8,89
8,89
0,27152.572.667
152.572.667
71.840.22^
40.890.888
40.890.888
1.232.66789.559.000
89.559.000
42.147.000
24.003.000
24.003.000
729.OOO242.i3i.667
242.131.667
113.987.223
64.893.888
64.893.888
I.96I.66758.026.666,50
58.026.666,50
27.393.888,00
15.550.556,50
15.550.556,50
451.666.00
TOTAL905.000.000,00 100,– 46O.OOO.OOO 270.000.000 730.000.000 175.000.000,00
VIII/531/75-E
Orig*F