Communication from the Commission to the Council - Financial Information on the European Development Funds
Date: 2002-07-09
Institutions: European Commission
Subjects: European Development Fund, budget estimate, budgetary expenditure, consolidated account, financial year

COMMISSION OF THE EUROPEAN COMMUNITIES

Brussels, 09.07.2002
COM(2002) 372 final

COMMUNICATION FROM THE COMMISSION TO THE COUNCIL

Financial Information on the European Development Funds

COMMUNICATION FROM THE COMMISSION TO THE COUNCIL

Financial Information on the European Development Funds

CONTENTS

Preliminary remarks ................................................................................................................... 3

Summary .................................................................................................................................... 4

1.

1.1.

1.2.

2.

2.1.

2.2.

2.3.

3.

Implementation of the European Development Funds at 31.12.2001.......................... 6

General table ................................................................................................................ 6

Implementation of EDFs in 2001................................................................................. 7

Financial implementation forecasts for 2002 (Figures revised in may 2002).............. 9

Decisions...................................................................................................................... 9

Payments ...................................................................................................................... 9

Calls for contributions scheduled for 2002 ................................................................ 10

Implementation forecasts for 2003 ............................................................................ 11

Annexes

2

Preliminary remarks

This  document  is  to  be  annexed  to  the  draft  budget  for  2003,  in  accordance  with  the  1979
agreements on budgetary procedure.

To  make  the  budgetary  authority’s  task  as  easy  as  possible,  the  information  given  in  this
document is restricted to the key data. As in previous years, it shows:

-

-

-

EDF implementation at 31.12.2001;

financial implementation forecasts for the current year;

expenditure forecasts for 2003.

Further  details  on  EDF  implementation  at  31.12.2001  are  given  in  the  Commission
communication  to  the  Court  of  Auditors,  Parliament  and  the  Council  containing  the  balance
sheets  and  accounts  of  the  6th,  7th  and  8th  EDFs  for  2001  (COM(2002)  211  final  of
29.04.2002).

3

Summary

1.  With payments standing at €2 067.86 million in 2001, EDF implementation has reached a
record high,  confirming  the  upswing  in payments that  started  in  1998  with  the  entry  into
force  of  the  8th  EDF.  However,  actual  expenditure  is  considerably  below  the  projections
presented  to  the  Member  States  in  November  20001  (€2 538  million,  giving  an
implementation rate of 81.5%). This is largely because the amount that could be disbursed
in  programmable  aid  and,  to  a  lesser  extent,  through  Stabex,  was  overestimated.  On  the
other  hand,  actual  payments  are  slightly  higher  than  the  revised  figure  of  €2 000  million
from  June  2001,  presented  to  the  Council  in  the  last  Communication,  “Financial
Information on the European Development Funds”.2

New commitments registered in 2001 amount to €1 920 million. After taking into account
cancelled commitments amounting to €366 million, the net total is €1 554 million. This is
well down on the record €3 757 million in 2000. There are a number of reasons why the
level reached in 2000 was not maintained. Firstly, the EDFs operate on cycles of  around
five  years  and  the  cycle  was  at  its  peak  in  2000  as  far  as  decisions  are  concerned.  The
trend  was  further  accentuated  by  the  commitment  of  some  €1  billion  for  two  debt-relief
programmes  in  2000.  Lastly,  the  downward  trend  that  began  in  2001  was  made  more
pronounced  by  the  lack  of  resources  for  countries  that  had  performed  well,  pending
ratification of the Cotonou Agreement.

2.  Implementation forecasts for 2002 have been revised downwards, principally for payments.
As things stand the level forecast in November 2001 is unlikely to be reached. On the basis
of the current situation,  the  Commission expects  a  figure  of  €2 000  million  for  payments
and decisions alike, against the forecasts at the end of 2001 of €2 345 million for payments
and €2 100 million for decisions. The shortfall is in programmable aid and is also linked to
a  lack  of  financial  resources,  due  to  delays  in  ratifying  the  Cotonou  Agreement.  As  a
transitional  measure,  €1 200 million  taken  from  the  balance  remaining  from  the  8th  EDF
have  been  made  available  from  2002  onwards  (Decision  No  1/2000  of  the  ACP-EC
Council  of  Ministers  of  27  July  2000).  However,  this  has  only  partially  offset  the
consequences of the delay.

As a result, though the Commission had anticipated in its communication from December
20013 that it would have to call for contributions totalling €2 000 million, it now finds that
€1 800 million should be sufficient to meet the requirements. After the first two calls for
contributions, totalling €800 million, the Commission  now  intends  to  propose  a  third  for
€481 million.  This  is  the  amount  remaining  of  the  7th  EDF  so  this  will  bring  calls  for
contributions  on  that  EDF  to  a  close.  The  fourth  call  would  then  be  for  €519 million,
bringing the total to €1 800 million. The requirements for the fourth call will be reviewed
in October 2002 in the light of progress made.

3.  For 2003, the Commission is expecting decisions and payments to stand at €2 500 million.
These figures are based on the implementation patterns of previous EDFs (the distribution
of  commitments  and  payments  over  the  whole  implementation  period).  Some  allowance

1

2

3

COM(2000) 805 final of 12/12/2000
COM (2001) 402 final of 16/7/2001
COM(2001) 780 final of 17/12/2001

4

                                                
has  been  made  for  the  effects  of  the  process  of  deconcentration  from  services  ad
headquarters  to  the  delegations.  Given  the  uncertainty  surrounding  the  dates  for
implementation of the 9th EDF (dependent on ratification of the Cotonou Agreement) these
figures should be regarded as very provisionnal.

In  view  of  the  projected  start-of-year  and  end-of-year  balances  we  estimate  that  the
Member States' contributions for 2003 will be some €2 300 million.

5

1.  IMPLEMENTATION OF THE EUROPEAN DEVELOPMENT FUNDS AT 31.12.2001

1.1. 

General table

Fund4

Implementation
at 31/12/01
(€ million)

Implementation
at 31/12/01
( %)

Entry into
force of
EDF

Recipients

Type of aid

6th EDF

Allocations (a)

Decisions (b)

Contracts (c)

Payments (d)

7 829.15

7 481.9

7 285.4

7 186.6

96% (b/a)

93% (c/a)

92%(d/a)

96%(d/b)

99%(d/c)

01/05/1986

ACP-OCT

Programmable aid

Interest-rate subsidies

Risk capital

Stabex

Sysmin

Emergency aid

Aid for refugees

7th EDF

01/09/1991

ACP-OCT

Programmable aid

Allocations (a)

11 503.36

Decisions (b)

Contracts (c)

Payments (d)

10 802.7

94%(b/a)

9 657.2

8 906.3

84% (c/a)

77%(d/a)

82%(d/b)

92%(d/c)

Structural adjustment
facility

Interest-rate subsidies

Risk capital

Stabex

Sysmin

Emergency aid

Aid for refugees

8th EDF

17/06/1998

ACP-OCT

Programmable aid

Allocations (a)

13 465.0

Decisions (b)

Contracts (c)

Payments (d)

9 868.2

5 738.6

3 590.8

73%(b/a)

43%(c/a)

27%(d/a)

36%(d/b)

63%(d/c)

Structural adjustment
facility

Interest-rate subsidies

Risk capital

Stabex

Sysmin

Emergency aid

Aid for refugees

HIPC – Debt relief

4

5

6

These allocations do not include interest.
This figure takes account of transfers between EDFs.
This figure takes account of transfers between EDFs.

6

                                                
1.2. 

Implementation of EDFs in 2001

Payment trends
 (6th, 7th and 8th EDF)

Current payments

Stabex

1992
1993
1994
1995
1996
1997
1998
1999
2000
2001

1 330
1 321
1 430
1 260
1 152
1 194
1 351
1 255
1 477
1 715

612
33
351
303
165
19
89
20
71
353

€ million

TOTAL

1 942
1 354
1 781
1 563
1 317
1 213
1 440
1 275
1 548
2 068

COMPARISON OF DECISIONS AND PAYMENTS BY INSTRUMENT BETWEEN 2000 AND
2001
(6th, 7th and 8th EDF)

Instruments

Decisions

PROGRAMMABLE AID :

–  National and regional

indicative programmes

–  Structural adjustment facility
STABEX

SYSMIN

RISK CAPITAL

INTEREST-RATE SUBSIDY

EMERGENCY AID

AID FOR REFUGEES

HIPC Debt-relief initiative

TOTAL

2000

2 100.47

1 640.97

2001

1 101.60

886.14

459.50
361.06

94.10

122.59

24.50

1.52

24.19

215.46
0.00

-0.28

383.47

16.33

11.90

41.14

€ million

Payments

2000

892.37

745.05

147.32
70.61

28.73

152.55

17.42

28.26

1.79

2001

1 079.00

775.24

303.76
353.22

48.18

183.46

15.57

30.48

7.95

1 028.97

3 757.42

0.00
1 554.167

356.44

350.00

1 548.17

2 067.86

7

This  figure  takes  account  of  cancelled  commitments  worth  €366 million,  including  €195.1 million  for
financing-agreement cancellations (Article 3 of the financing agreement concerning (non-)observance of
the start date). Of this amount €176.4 million have been re-committed.

7

                                                
Compared with the last three years, particularly 2000, the amount for decisions was quite low
in  2001.  There  are  a  number  of  reasons  for  this.  First,  EDF  implementation  goes  in  cycles
lasting a number of years. In 1998-2000, the 8th EDF was being implemented and there were a
lot of commitments in these years. So it is to be expected that the number of decisions should
start to ease off in 2001. Furthermore, 2000 was the year of the decision concerning debt-relief
for the most heavily indebted countries, worth around €1 030 million. Lastly, in 2001 the best
performing  countries,  on  the  whole,  faced  a  lack  of  resources  pending  the  signing  of  new
national indicative programmes under the 9th EDF, while relatively large sums were frozen for
some of the countries that did not perform so well or were affected by crises.

By contrast, payments in 2001 reached their highest level since the EDF began. The payment
cycle follows the decision cycle, with a small time lag. By comparison with 2000, the level of
payments was high for Stabex and the Structural Adjustment Facility.

The  table  below  gives  the  start-of-year  and  end-of-year  balances,  the  Member  States’
contributions  to  the  EDF  and  expenditure.  It  shows  that  large  sums  were  transferred  from
Stabex  to  current  operations,  both  in  2000  and  2001  (€1 062  million  for  the  two  years
together).  This  reduced  the  financial  resources  required  of  the  Member  States  considerably.
The transfers were performed by the Commission in accordance with the decision taken by the
Committee of Ambassadors in August 2000. Under the decision, the Commission is required to
transfer  the  balance  remaining  in  the  Stabex  account,  less  suspended  payments,  to  the
current-expenditure account.

€ million

CURRENT
OPERATIONS

STABEX

TOTAL

2000
140.84
1 480.00
570.00

2001
783.51
781.46
492.00

2000
882.00
355.00
-570.00

2001
648.23
348.62
-492.00

2000
1 022.84
1 835.00

2001
1 431.74
1 130.08

70.23

48.48

51.84

68.57

122.07

117.41

2 261.07
-1 477.56
783.51

2 105.81
-1 714.64
391.17

718.84
-70.61
648.23

573.42
-353.22
220.20

2 979.91
-1 548.17
1 431.74

2 679.23
-2 067.86
611.37

Resources
Carry-over to 01.01
Call for contributions
Transfer from the
Stabex account to the
EDF current-
expenditure account
Interest entered in the
accounts/ amounts to
be regularised
TOTAL
Expenditure
Balance at 31.12

The amount of cash available for all accounts at the end of 2001 was €611.4 million, including
€391.2 million under current expenditure and €220.2 million for Stabex. These amounts  may
be considered normal.

The  €391.2  million  includes  the  €83.5 million  paid  in  advance  by  the  United  Kingdom  and
Ireland for the first call for 2002. Without these payments, the balance would have been €307 7
million.  For  Stabex,  just  over  €200 million  had  to  be  kept  available  for  any  suspended
payments, primarily to Sudan and Togo.

8

In  addition  to  the  €220.2  million,  the  Commission  was  owed,  at  the  end  of  2001,
€218.7 million for Stabex from the Member States. This has now been paid and, together with
interest, was transferred to the current-expenditure account in 2002.

As already stated, the balance at the end of 2000 was abnormally high for a number of reasons
(delayed  expenditure  under  the  Structural  Adjustment  Facility,  transfer  from  the  Stabex
account to the current-expenditure account etc.) The situation has now been corrected.

2.  FINANCIAL IMPLEMENTATION FORECASTS FOR 2002 (FIGURES REVISED IN MAY 2002)

Requirements for 2002  have  been reviewed on the basis  of  an  analysis  of  current  files,  dealt
with by the Commission. The results are given in the table below.

€ million

Instruments

Decisions

Payments

6 EDF

7 EDF

8 EDF

TOTAL

6EDF

7EDF

8 EDF

TOTAL

PROGRAMMABLE
AID8
-  National and regional

50

50

100

1 465

1 615

92

1 349

1 491

30

30

250

1 133

1 413

245

717

992

indicative
programmes

-  Structural adjustment

8

116

124

5

facility

STABEX
SYSMIN
RISK CAPITAL
INTEREST-RATE
SUBSIDIES
EMERGENCY AID
AID FOR REFUGEES
HIPC (debt relief)
TOTAL

2.1. 

Decisions

250
25

20
30
60
1 850

250
25

20
30
60
2 000

50

100

30

250

416

2
21
175
25

20
15
329
1 720

421

2
21
175
25

20
15
329
2 000

Forecasts  for  decisions  were  revised  downwards  slightly  from  the  November  2001  level  of
€2 100 million to €2 000 million. This is mainly due to the fact that, pending ratification of the
Cotonou  Agreement,  some  of  the  more  successful  regions  faced  a  lack  of  resources  and  are
awaiting implementation of the Agreement.

2.2. 

Payments

The  amount  of  payments  was  also  revised  downwards  and  is  currently  estimated  at
€2 000 million,  against  €2 345 million  in  November  2001.  Implementation  of  programmable
aid has been delayed for the same reasons as given above in relation to decision. The figures

8

Includes transitional measures taken in accordance with Decision No 1/2000 of the ACP-EC Council of
Ministers

9

                                                
given  for  the  other  instruments  still  hold  on  the  whole.  The  total  amount  for  2002
(€2 000 million) is still well above the average for 1992-2001 (€1 550 million).

The table below compares the forecasts for 2002 (see above) with payments actually made at
the end of May 2002.

EDF expenditure at 31/5/2002 compared with forecast for 2002

Instrument

Forecast for 2002

Outturn at 31.5.20029

€ million

€ million

PROGRAMMABLE AID

1 413

- National and regional
indicative programmes
- Structural adjustment facility

STABEX

SYSMIN

RISK CAPITAL

INTEREST-RATE SUBSIDY

EMERGENCY AID

AID FOR REFUGEES

HIPC (debt relief)

TOTAL

992

421

2

21

175

25

20

15

329

2 000

490.0

346.7

143.3

1.6

20.1

67.0

3.9

7.7

5.4

0.0

%

35%

35%

34%

81%

96%

38%

16%

38%

36%

0%

595.8

30%

The overall implementation rate at 31 May 2002 was 30%. This is comparable to the rates at
the same point in previous years. The rate was 33% in 1999 and 21% in 2000. The high figure
for 2001 (42%) was due to (exceptional) large Stabex disbursements (€259 million at this point
in the year).

2.3. 

Calls for contributions scheduled for 2002

The downwards revision for payments will lead to a reduction in the contributions that Member
States will be asked to make in 2002.  Initially,  calls were  to  be  issued  to  €2 000  million  but
now  €1 800  million  should  cover  requirements.  On  the  basis  of  the  information  currently
available, this should leave a balance of some €370 million for current operations at the end of
2002. This relatively large balance should give the Commission some room for manoeuvre for
disbursements over and above the €2 000 million currently forecast.

9

Final amounts and amounts to be regularised

10

                                                
Balance at 1/1/2002

Including 2002 contribution paid before 1/1/02

Contributions planned for 2002

Transfer from Stabex to EDF current-expenditure
account (estimated)

Interest (forecast)

Forecast expenditure

Current
operations

391.2
83.5

1 716.5

255.2

10.0

-2 000.0

€ million

Stabex

220.2

218.7

-255.2

21.0

-1.7

Balance forecast at 31/12/2002

372.9

203.1

The following notes explain some of the figures in the table.

–  €83.5 million was paid in advance and so is included in the balance at the start of the year,
which means that the Member States have still to pay €1 716.5 million, to make up the total
of €1 800 million.

–  The figure for the transfer from the Stabex account is an estimate; the amount of interest on

the account for 2002 is not yet known.

–  The contribution for Stabex is accounted for by the payment by a Member State of the last

outstanding instalment in February 2002. All Stabex credits have now been honoured.

–  The  end-of-year  balance  for  Stabex  was  €203.1  million.  This  figure  represents  the
suspended  payments  to  Sudan  and  Togo.  If  these  payments  were  to  be  made,  the  end-of-
year balance would be reduced accordingly.

In practice, since the first two calls for contributions totalled €800 million, the Commission is
proposing,  with  the  third  call  for  €481 million,  to  draw  all  that  remains  from  the  7th  EDF,
which would then be closed as far as Member States’ contributions are concerned. The last call
would  then  be  for  €521 million,  drawn  against  the  8th  EDF.  The  financial  burden  will  be
distributed differently between the Member States. One of the reasons for this is that Austria,
Finland and Sweden will be required to contribute to the 8th and subsequent EDFs. The table in
Annex  1  gives  the  breakdown  for  the  7th  and  8th  EDFs,  as  well  as  the  amounts  that  each
Member State should be paying on the basis of the scenario described above.

3.  IMPLEMENTATION FORECASTS FOR 2003

The  figures  for  expenditure  in  2003  are  a  rough  estimate  based  on  past  performance  for  the
various  EDFs.  They  take  account  of  the  probable  implications  of  devolution  within  the
Commission  departments.  Clearly,  the  timing  of  ratification  of  the  Cotonou  Agreement  will
have a major effect on the  actual level of decisions and payments. The figure should be read
with caution.

11

The  Commission  expects  totals  of  €2 500 million,  for  decisions  and  payments  alike  in  2003.
For  decisions,  most  of  this  will  come  from  the  9th  EDF,  which  should  be  fully  operational.
Once  the  Cotonou  Agreement  has  been  ratified,  a  total  amount  estimated  at  €15.4 billion
should  be  available  for  new  commitments.  Of  this  amount,  €12.8  billion  concern  the  new
envelope foreseen by the Cotonou agreement (possibly increased by €1 billion in 2004 after a
performance review undertaken by the Council). The balances remaining from previous  EDF
(6th, 7th and 8th). are estimated at present at €2.6 billion.

The amount for decisions should rise considerably in the coming years. For the period 2003-07,
the Commission expects an average of €2.5 to €2.6 billion, peaking at € 3 billion in 2005.

With  regard  to  payments,  an  average  of  €2.7  billion  to  €2.8 billion  is  forecast.  Payments  are
expected to peak in 2006 at over €3 billion.

The Commission aims to bring the end-of-year balance for 2003 down to around €200 million.
that
Taking  account  of  this  objective  and  interest  earned, 
€2 300 million in contributions from the Member States should be enough to provide adequate
EDF funding.

the  Commission 

thinks 

The table below shows the forecast financial situation for 2002 (see table above) together with
the forecast for 2003.

Balance at 1/1/2002

Scheduled contributions 2002

Transfer from Stabex to EDF current-expenditure
account (estimate)

Interest (forecast)

Forecast expenditure

Forecast balance at 31/12/2002

Forecast expenditure 2003

Interest (forecast)

Forecast requirements 2003

Forecast balance at 31/12/2003

Current
operations

391.2

1 716.510

255.2

10.0

-2 000.0

372.9

-2 500.0

20.0

2 300.0

192.9

€ million

Stabex

220.2

218.711

-255.2

21.0

-1.7

203.112

203.113

10

11

12

13

€83.5  million,  paid  before  1/10/2002,  is  included  in  the  balance  at  1/1/2002.  The  2002  calls-for-
contributions total is thus €180 million.
Payment of the last credit in January 2002
The Commission has to keep this  amount  in  the  Stabex  account  in  case  suspended  payments  to  Sudan
and Togo have to be made.
Idem

12

                                                
ANNEX 1

CONTRIBUTIONS TO THE EDF FOR 2002

7th EDF
scale

8th EDF
scale

Call

Call

Call

Call

Call

Country

20/1/2002

1/4/2002

1/7/2002

1/11/2002

Total 2002

on 7th EDF

on 7th EDF

on 7th EDF

on 8th EDF

%

%

€

€

€

€

€

GERMANY

BELGIUM

DENMARK

SPAIN

FRANCE

GREECE

IRELAND

ITALY

LUXEMBOURG

NETHERLANDS

PORTUGAL

25.96

23.36

129 800 000

77 880 000

125 323 600

121 238 400

3.96

2.07

5.9

24.37

1.22

0.55

12.96

0.19

5.57

0.88

3.92

2.14

5.84

24.3

1.25

0.62

19 800 000

11 880 000

19 057 600

20 344 800

10 350 000

6 210 000

10 530 700

11 106 600

29 500 000

17 700 000

27 918 000

30 309 600

121 850 000

73 110 000

117 033 700

126 117 000

6 100 000

2 750 000

3 660 000

1 650 000

6 320 200

2 508 000

6 487 500

3 217 800

12.54

64 800 000

38 880 000

62 285 600

65 082 600

0.29

5.22

0.97

950 000

570 000

866 400

1 505 100

27 850 000

16 710 000

26 553 700

27 091 800

4 400 000

2 640 000

4 100 800

5 034 300

UNITED KINGDOM

16.37

12.69

81 850 000

49 110 000

78 501 700

65 861 100

2.65

1.48

2.73

13 753 500

7 681 200

14 168 700

AUSTRIA

FINLAND

SWEDEN

TOTAL

454 242 000

71 082 400

38 197 300

105 427 600

438 110 700

22 567 700

10 125 800

231 048 200

3 891 500

98 205 500

16 175 100

275 322 800

13 753 500

7 681 200

14 168 700

100.00

100.00

500 000 000

300 000 000

481 000 000

519 000 000

1 800 000 000

13

Annex 2: Summary statements of management accounts at 31.12.2001

14

CONSOLIDATED EDF ACCOUNTS AT 31.12.2001

ALLOCATIONS

Programmable aid

Overall reserve

Cotonou programme reserve

Structural adjustment facility (SAF)

Non-programmable aid

Transfers to other funds

Miscellaneous receipts

6th EDF

7th EDF

8th EDF

6th, 7th & 8th EDF

5 172 911

6 068 462

6 726 913

17 968 286

10 945

54 986

32 349

98 279

1 200 000

1 200 000

6 000

1 152 007

1 650 000

2 808 007

2 529 174

3 770 787

3 855 697

10 155 658

110 051

433 641

23 405

543 692

23 405

TOTAL

7 829 081

11 503 287

13 464 959

32 797 326

EDF

CUMULATIVE TOTAL
In % of
allocations

As at
31/12/01

1997

1998

1999

2000

2001

ANNUAL FIGURES

DECISIONS

TOTAL

ASSIGNED
FUNDS

TOTAL

PAYMENTS

TOTAL

6
7
8

6
7
8

6
7
8

7 481 879
10 802 709
9 868 233
28 152 821

7 285.434
9 657.241
5 738 612
22 681 288

7 186 584
8 906 299
3 590 777
19 683 660

96%
94%
73%

93%
84%
43%

92%
77%
27%

24 216
591 769

615 985

(44 644)
116 834
2 224 097
2 296 287

(22 719)
205 290
2 510 248
2 692 819

109 117
852 298

961 415

173 843
1 038 852

1 212 695

563 443
563 443
893 967
2 020 853

153 872
819 131
466 621
1 439 624

66 889
350 166
931 547
1 348 602

103 771
627 066
544 540
1 275 377

29 811
113 870
3 613 736
3 757 417

30 641
294 741
1 970 775
2 296 156

100 838
478 191
969 135
1 548 165

(14 203)
48 215
1 520 151
1 554 162

26 924
294 114
1 942 324
2 263 362

50 460
406 923
1 610 480
2 067 863

Consolidated EDFaccounts at 31.12.2001

4000000
3500000
3000000
2500000
2000000
1500000
1000000
500000
0
-500000

6th EDF
7th EDF
8th EDF

1997

1999

2001

1997

1999

2001

1997

1999

2001

Decisions               Assigned funds               Paym ents

15

Consolidated EDF accounts at 31.12.2001 (Type of aid)

 6th EDF

%

 7th EDF

%

 8th EDF

%

 TOTAL

%

€ thousand

PROGRAMMABLE AID (NIP)

Allocation

Decisions

Assigned funds

Payments

5 172 911

6 068 462

6 726 913

17 968 286

4 874 241

94%

5 603 438

92%

5 170 930

77%

15 648 610

87%

4 705 483

91%

4 761 090

78%

1 816 095

27%

11 282 668

63%

4 622 727

89%

4 248 910

70%

867 800

13%

9 739 437

54%

OVERALL RESERVE

10 945

54 986

32 349

1 200 000

98 279

1 200 000

COTONOU PROGRAMME RESERVE

STRUCTURAL  ADJUSTMENT  FACILITY
(SAF)
Allocation

Decisions

Assigned funds

Payments

NON-PROGRAMMABLE AID

Allocation

Decisions

Assigned funds

Payments

TRANSFERS FROM OTHER FUNDS

6 000

1 152 007

1 650 000

2 808 007

6 000

100%

1 152 007

100%

1 568 132

95%

2 726 140

97%

5 995

100%

1 149 596

100%

1 143 146

69%

2 298 737

82%

5 407

90%

1 139 546

99%

943 578

57%

2 088 530

74%

2 529 174

3 770 787

3 855 697

10 155 658

2 512 327

99%

3 682 982

98%

3 129 170

81%

9 324 479

92%

2 487 256

98%

3 450 244

91%

2 779 371

72%

8 716 871

86%

2 473 842

98%

3 259 367

86%

1 779 399

46%

7 512 608

74%

Allocation

Decisions

Assigned funds

Payments

110 051

433 641

89 311

81%

364 282

84%

86 699

79%

296 312

68%

84 608

77%

258 476

60%

MISCELLANEOUS RECEIPTS

23 405

543 692

453 593

83%

383 011

70%

343 085

63%

23 405

TOTAL

Allocation

Decisions

Assigned funds

Payments

7 829 081

11 503 287

13 464 959

32 797 326

7 481 879

96%

10 802 709

94%

9 868 233

73%

28 152 821

86%

7 285 434

93%

9 657 241

84%

5 738 612

43%

22 681 288

69%

7 186 584

92%

8 906 299

77%

3 590 777

27%

19.683 660

60%

16