Communication from the Commission - European Development Fund (EDF) - Estimate of commitments and payments and of contributions to be paid by the Member States for 2004 and 2005 Forecast of commitments and payments for 2006 to 2009
Date: 2004-11-19
Institutions: European Commission
Subjects: European Development Fund, European Investment Bank, budget estimate, financial management, financial year, implementation of the budget, inclusion in the budget

COMMISSION OF THE EUROPEAN COMMUNITIES 

Brussels, 19.11.2004 
COM(2004)763 final 

COMMUNICATION FROM THE COMMISSION 

EUROPEAN DEVELOPMENT FUND (EDF) 

Estimate of commitments and payments and of contributions to be paid by the Member  
States for 2004 and 2005 

Forecast of commitments and payments for 2006 to 2009 

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INTRODUCTION 

The  Commission  draws  up  this  communication  to  the  Council  each  year  in 
accordance with Article 8 of the Financial Regulation applicable to the 9th European 
Development Fund (EDF). Its purpose is to provide an estimate of payments for the 
following  financial  year  (in  this  case  2005)  and  set  out  the  schedule  of  calls  for 
contributions,  taking  into  account  the  estimates  of  the  European  Investment  Bank 
(EIB)  for  the  operations  which  it  manages.  As  provided  for  in  Article  8  of  the 
Financial  Regulation,  the  communication  also  gives  estimates  of  commitments  and 
payments for each of the following four years (2006 to 2009). It starts with an update 
of the EDF expenditure estimate for the current year (2004).  

Since  the  entry  into  force  of  the  9th  EDF  in  2003  the  Member  States  have  made 
direct  contributions  to  the  EIB  for  the  9th  EDF  instruments  it  manages  (the 
Investment  Facility  and  interest-rate  subsidies),  while  contributions  for  the  old 
instruments  managed  by  the  EIB  (risk  capital  and  interest-rate  subsidies)  still  go 
through  the  Commission.  This  communication  therefore  draws  a  clear  distinction 
between  EIB  payments  under  the  9th  EDF,  and  Commission  payments  (including 
those for the old instruments managed by the EIB).  

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SUMMARY 

For each of the ACP countries1 and OCTs2 the Commission has updated its forecast 
commitments  and  payments  for  the  years  2004  and  2005.  As  in  2003,  the 
Commission  has  taken  great  care  with  the  payments  estimate  so  as  to  (i)  minimise 
the risk of Member States' earmarking too great an amount in their national budgets; 
while (ii) ensuring that the EDF is adequately funded and that there are no liquidity 
problems of the type encountered at the end of 2003 and in May this year. As usual 
these estimates will be reviewed in next year's communication.  

The  EIB  has  also  updated  its  forecasts.  The  full  figures  are  set  out  in  this 
communication. 

Commitments in 2004 and 20053  

The  Commission  can  confirm  the  estimate  it  gave  for  2004  in  its  May 
communication (EUR 2 850 million).4 The EIB's figures for the Investment Facility 
have  been  revised  downwards  (from  EUR 500 million  to  EUR 335 million).5  The 
combined  volume  of  commitments  for 
is 
EUR 3 185 million. 

the  Commission  and 

the  EIB 

The EIB has maintained its estimate for 2005 (EUR 555 million). The Commission, 
however,  has  had  to  revise  its  own  sharply  upwards  (to  EUR 3 500  million) 
compared  with  both  its  May  estimate  (EUR 2 875 million)  and  that  for  2004 
(EUR 2 850 million).  The  combined  commitments  of  the  Commission  and  the  EIB 
total  an  estimated  EUR 4 055 million,  a  figure  that  does  not  take  account  of  any 
mobilisation of the remaining balance (EUR 750 million)of the EUR 1000 million in 
conditional resources. 

The following table shows the trend in commitments since 2000. The period 2000 to 
2002  was  the  second  part  of  the  8th  EDF  commitments  cycle  (which  reached  a 
record peak in 2000 and then declined markedly in 2001 and 2002). The ratification 
of  the  Cotonou  Agreement  in  2003  saw  commitments  kick  off  fast  (EUR 4 127 
million),  followed  by  a  slight  slowing  in  2004  (EUR 3 185 million).  They  will  rise 
again in 2005 (EUR 4 055 million). 

1 
2 
3 
4 

5 

African, Caribbean and Pacific States. 
Overseas Countries & Territories. 
These are new commitments, not including decommitments. 
Communication  from  the  Commission  to  the  Council:  financial  information  on  the  European 
Development Funds (COM(2004) 382 final of 25.05.2004). 
Including interest-rate subsidies. 

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Table 1: state of commitments (€ million) 

Total  managed  by  the  Commission, 
of which: 

A. Special measures 

STABEX 
HIPC (debt reduction) 
Global Health Fund 
Subtotal 

B. Normal measures 
Total managed by the EIB6 
GRAND TOTAL COM + EIB 

Payments in 2004 and 2005  

2000 

2001 

2002 

2003 

2004 

2005 

4.007

1.921

2.115

3.761 

2.850  3.500

373

1.029

1.402

2.605

0

0

0

0

60

60

0 

460 

170 

630 

0 

0 

0 

0 

0

0

0

0

1.921

2.055

3.131 

2.850  3.500

4.007

1.921

2.115

4.127 

3.185  4.055

335 

555

The  Commission's  updated  calculation  of  payments  in  2004,  EUR 2 475 million, 
confirms  the  estimate  it  presented  in  May.  The  EIB's  payment  estimates,  like  its 
commitments,  have  been  revised  downwards  (EUR 90 million  against  the  May 
estimate  of  EUR 168 million)  as  disbursements  have  been  slow  as  a  result  of 
time-lags between the signing of contracts and the actual payments phase. 

In 2005 the Commission and the EIB expect to pay out the amount estimated in May 
and  this  should  be  the  first  year  that  payments  approach  the  EUR 3 billion  mark 
(EUR 2 760 for the Commission and EUR 235 million for the EIB).  

The  Commission  wishes  to  stress  that  the  volume  of  EDF  payments  has  risen 
markedly  in  recent  years.  And  this  is  not  simply  due  to  the  use  of  high-disbursing 
instruments like Stabex, the HIPC and the Global Health Fund. This trend is evident 
in the table below. 

6 

9th EDF instruments (Investment Facility and interest-rate subsidies). 

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Table 2: state of payments (€ million) 

Total managed by the Commission, 
of which: 

A. Special measures 

STABEX 
HIPC (debt reduction) 
Global Health Fund 
Subtotal 

B. Normal measures 
Total managed by the EIB7: 
GRAND TOTAL COM + EIB 

2000 

2001 

2002 

2003 

2004 

2005 

1.640

2.124

1.902

2.427 

2.475  2.760

82

356

439

1.202

353

350

2

180

703

182

191 

209 

170 

570 

- 

-

100 

200

- 

-

100 

200

1.421

1.721

1.857 

2.375  2.560

1.640

2.124

1.902

2.431 

2.565  2.995

4 

90 

235

Calls for contributions in 2004 and 2005 

Since the estimate of the Commission's total payments for 2004 is unchanged, there 
is  no  change  in  the  proposed  amount  of  the  last  tranche  of  the  contributions 
(EUR 490 million).  The  EIB  confirms  that  it  does  not  need  any  additional  funds  in 
2004.  The  total  amount  of  contributions  for  the  Commission  and  the  EIB  over  the 
year  is  thus  EUR 2  440 million,  exactly  what  was  announced  in  the  October  2003 
communication.8  The  request  for  EUR 490 million  from  the  contributing  Member 
States is thus as expected. 

is  asking 

The Commission's payments forecast for 2005 is the same as last May's: it will need 
contributions of EUR 2 700 million from the Member States to cover the whole year 
(this  takes  account  of  estimated  revenue  of  EUR 55 million  in  recoveries  and 
interest).  Having  made  a  detailed  calculation  of  the  pattern  of  payments,  the 
tranche  of 
Commission 
EUR 1 500 million,  hoping  by  so  doing  to  avoid  a  cash  shortfall  like  last  May's, 
which could jeopardise the operation of the Fund. The Commission must be able to 
honour  its  obligations  to  countries  that  are  among  the  poorest.  The  EIB,  thanks  to 
what is likely to be a healthy balance at the end of the year, is asking for a relatively 
small  sum  to  cover  the  whole  year  (EUR 155 million  against  the  EUR 207  million 
forecast in May), of which EUR 60 million for the first 2005 tranche. 

the  Member  States 

to  pay  an 

initial 

At  this  stage  the  Commission  and  the  EIB  estimate  that  they  will  need 
EUR 800 million and EUR 55 million respectively for the second 2005 tranche, and 
EUR 400 million  and  EUR 40  million  for  the  last  tranche.  Revised  estimates  for 
these two tranches will be given in the June communication. 

7 
8 

9th EDF instruments (Investment Facility and interest-rate subsidies) 
Communication  from  the  Commission  -  European  Development  Fund  (EDF)  -  Estimate  of  decisions, 
payments  and  contributions  to  be  paid  by  the  Member  States  for  2003  and  2004  and  Forecast  of 
decisions and payments for the period 2005 to 2008 (COM(2003) 720 final of 21.11.2003). 

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The future 

The  Commission  and  the  EIB  reiterate  their  pledge  to  commit  the  funds  made 
available under the Cotonou Agreement (including the balances remaining from the 
6th, 7th and 8th EDFs that were transferred to the 9th EDF) by the end of 2007. This, 
however,  presupposes  that  the  political  situation  in  all  ACP  countries  is  such  as  to 
provide  the  conditions  needed  for  disbursing  funds.  The  cooperation  agreements 
(Lomé  and  Cotonou)  are  rooted  in  the  principle  of  partnership  between  the  Union 
and the ACP countries, which means that implementation of the EDF depends on the 
absorption  capacity  (political  stability,  quality  of  governance,  etc.)  of  the  ACP 
countries.  Note  finally  that  utilisation  of  the  funds  made  available  by  the  Cotonou 
Agreement  will  also  depend  on  the  results  of  any  reallocation  of  funds.  Detailed 
figures  based  on  the  assumption  of  full  use  of  the  available  funds  can  be  found  in 
Table 5. 

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1. 

FINANCIAL IMPLEMENTATION FORECASTS FOR 2004 AND 2005 

1.1. 

Commitments 

1.1.1. 

2004 

NB.  In  the  May  communication9  the  Commission  and  the  EIB  estimated  total  new 
commitments in 2004 of EUR 3 350 million, broken down as follows: 

•  EUR 500 million for the instruments managed by the EIB under the 9th EDF, and 

•  EUR 2 850 million for instruments managed by the Commission.  

Situation at 31.08.2004 and outlook for the end of the year: 

•  At  the  end  of  August  the  EIB  had  committed  a  total  of  €127  million  under  the 
Investment Facility (9th EDF). On the basis of projected commitments for the rest 
of  the  year,  it  has  revised  downwards  its  forecast  for  2004  as  a  whole  (from 
EUR 500 million to EUR 335 million).10  

•  In  the  case  of  instruments  managed  by  the  Commission  (including  the  old  EIB 
instruments),  EUR 1 299  million  had  been  committed  at  31 August,  45%  of  the 
end-of-year  target  (EUR 2 850 million).  At  the  same  period  in  previous  years 
commitments  stood  at  a  mere  EUR 675 million  (2003)  and  EUR 443 million 
(2002).  Note  that  the  commitment  procedure  means  that  a  large  number  of 
pending  commitments  accumulate  in  the  first  half  of  the  year.  Most  are  project 
proposals in the course of adoption by the Commission that require consultation 
with  the  Member  States.  At  the  end  of  August  these  proposals  stood  at 
EUR 966 million,  bringing  the  total  of  finalised  and  pending  commitments  to 
EUR 2 265 million, 79% of the target.  

•  Having  carried  out  a  fresh  project-by-project  analysis,  and  keeping  in  mind  the 
degree  of  uncertainty  still  surrounding  some  projects,  the  Commission  estimates 
that  it  will  be  able  to  achieve  the  target  set  in  May,  namely  EUR 2 850 million.

The  EUR 75 million  earmarked  for  the  Water  Facility  in  May  shortly  after  the 
Council's decision is a provisional figure. Since then a Task Force has been set up 
and  talks  have  been  under  way  with  the  Member  States,  the  NGOs  and  private 
sector  since  July.  We  can  now  give  firmer  figures.  The  new  estimate  of 
commitments under the new initiative is EUR 3 million. 

9 

10 

Communication  from  the  Commission  to  the  Council:  financial  information  on  the  European 
Development Funds (COM(2004) 382 final of 25.05.2004). 
Of which €10 million for interest-rate subsidies. 

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1.1.2. 

2005 

In  the  May  communication  the  Commission  and  the  EIB  forecast  a  joint  total  of 
€3 420 million, of which €545 million for the EIB (9th EDF) and EUR 2 875 million 
for the Commission. 

The  Bank's  revised  figure  of  EUR 555 million11  is  not  much  different,  whereas  the 
Commission is predicting a big jump from EUR 2 875 million to EUR 3 500 million. 
It  should  be  stressed  again  that  these  figures  do  not  take  account  of  any  Council 
decision  to  mobilise  some  or  all  of  the  remaining  EUR 750 million  of  the 
EUR 1 000 million in conditional resources. 

After  the  record  total  of  2003,  EUR 4 127 million,  the  volume  of  new  projects  in 
2004 will be smaller. But recent estimates made at headquarters and on the ground 
point to a new rise in 2005.  

1.2. 

Payments 

1.2.1. 

2004 

NB.  In  the  May  communication  the  Commission  and  the  EIB  estimated  total 
payments in 2004 at EUR 2 623 million, broken down as follows: 

•  EUR 168 million for  the  instruments  managed  by  the  EIB  under  the  9th  EDF 

(down on the October 2003 estimate of EUR 260 million); 

•  EUR 2 455  million  for  the  Commission,  of  which  EUR 170  million  for  the  old 
EIB instruments. An indicative sum of EUR 10 million was entered for the Water 
Facility. But with no firm prospect of any operations under the Peace Facility, no 
sum has been entered under this heading. The figure of EUR 2 455 million is well 
up (10%) on the October 2003 estimate of EUR 2 240 million. 

Situation at 31.08.2004 and outlook for the end of the year: 

•  At the end of August the EIB had paid out EUR 41 million under the 9th EDF. On 
the basis of the contracts already signed or in the pipeline by the end of the year it 
believes that the EUR 168 million forecast for 2004 is too high a figure and has 
revised it down to EUR 90 million.  

•  The  Commission  had  made  payments  of  some  EUR 1 364 million  by  the  end  of 
August, 56% of the end-of-year target set in May (EUR 2 455 million). Payments, 
like commitments, were significantly up on the figures for the same period in the 
previous  two  years  (end  August  2003  EUR 973  million,  end  August  2002 
EUR 829 million). This was not simply because 2004 kicked off with payment of 
some EUR 270 million outstanding from 2003 but also sign of a sustained pace of 
disbursement. 

The objective set in May has been confirmed by the updated country-by-country 
forecast  ((ACP  and  OCT).  The  updated  total  is  EUR 2 475 million,  of  which 

11 

Of which €60 million for interest-subsidies. 

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EUR 170 million  for  the  old  instruments  managed  by  the  EIB  (risk  capital  and 
interest-rate  subsidies)  and  EUR 22 million  for  the  Peace  Facility,  above  all  for 
operations  in  Darfur  and  Central  Africa.  There  will  not  be  any  significant 
payments for the Water Facility before the end of the year. 

•  To sum up, the Commission confirms its May estimate while the EIB's has been 
thus 

revised  downwards.  Total  payments 
EUR 2 565 million against the May estimate of EUR 2 623 million. 

(Commission  +  EIB)  are 

1.2.2. 

2005 

In the May communication payments were estimated at EUR 2 975 million, of which 
the  EIB  and 
EUR 240 million  for 
EUR 2 735 million  for  the  Commission,  including  EUR 85 million  for  the  old  EIB 
instruments and an indicative figure of EUR 150 million for the Water Facility as a 
precautionary measure.  

instruments  managed  by 

the  9th  EDF 

The EIB's updated estimate of requirements under the 9th EDF is EUR 235 million, 
not much different from the earlier estimate (EUR 240 million). 

The  same  goes  for  the  Commission's  fresh  estimate  of  total  payments  in  2005 
(EUR 2 760 million  against  EUR 2 735 million  in  May).  Payments  under  the  old 
EIB-managed 
instruments  have  been  revised  up  (EUR 135 million  against 
EUR 85 million).  It  is  hard  to  estimate  a  figure  for  the  Peace  Facility  by  the  very 
nature of the instrument: EUR 61 million has been entered. On the basis of proposals 
under  way,  the  forecast  for  the  Water  Facility  is  EUR 57 million  (against  the 
preliminary May figure of EUR 150 million).  

To  sum  up, 
EUR 2 995 million. 

the  combined  Commission  and  EIB  estimates  now 

total 

The table overleaf gives an overview of commitments  and  payments  made  in  2003 
and the forecasts for 2004 and 2005. 

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Table 3 

Overview of commitments and payments, booked and forecast (2003, 2004 and 2005). 

Pro  memoria 
2003 

2004 

2005 

May 
forecast 

2004 

October 
updated 
forecast 

2004 

May 
forecast 

2004 

2004 

October 
updated 
forecast 

€ million 

COMMITMENTS 
   Standard Commission instruments 
   Peace Facility 
   Water Facility 

   Total for the Commission 

   EIB instruments (9th EDF) 

   TOTAL 
PAYMENTS 
   Standard Commission instruments 
   Old EIB instruments 
   Peace Facility 
   Water Facility 
   Total for the Commission 

   EIB instruments (9th EDF) 

   TOTAL 

3761 

- 

- 

3761 

366 

4127 

2192 

235 

- 

- 

2427 

4 

2431 

2525 

250 

75 

2850 

500 

3350 

2275 

170 
pm 
10 

2455 

168 

2623 

2597 

250 

3 

2850 

335 

3185 

2282 

170 

22 

1 

2475 

90 

2565 

2650 

- 

225 

2875 

545 

3420 

2500 

85 
pm 
150 

2735 

240 

2975 

3303 

197 

3500 

555 

4055 

2507 

135 

61 

57 

2760 

235 

2995 

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2. 

ESTIMATED  CASH  POSITION  IN  2004  AND  2005  AND  CALLS  FOR  CONTRIBUTIONS  BY  THE 
MEMBER STATES 

The table below gives the estimated cash position in 2004 and 2005 on the basis of the above 
payment estimates 

Table 4: estimated cash position in 2004 and 2005 (€ million) 

Commission  EIB 

TOTAL

Balance 01/01/2004 

82 

Late payments of Member States' contributions for 2003 96 

2004 contributions paid before 31 December 2003 

-1 

67 

8 

104 

-1 

Member States' contributions for 2004: 

2 315 

125 

2 440 

1st tranche (already paid by the Member States) 

725 

125 

850 

2nd tranche (already paid by the Member States) 

1 100 

3rd tranche (proposal) 

Interest 

Transfer from Stabex account 

Recoveries 

Payments 

Balance 31.12.2004 

Member States' contributions for 2005: 

1st tranche (proposal) 

2nd tranche (proposal) 

3rd tranche (proposal) 

Interest 

Recoveries 

Payments 

490 

5 

10 

50 

0 

0 

1 100 

490 

5 

10 

50 

-2 475 

-90 

-2 565 

82 

2 700 

1 500 

800 

400 

5 

50 

111 

155 

2 855 

60 

55 

40 

1 560 

855 

440 

5 

50 

-2 760 

-235 

-2 995 

Balance 31.12.2005 

77 

31 

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2.1. 

The last tranche of the 2004 contributions 

•  The EIB confirms that it will not need additional resources for 2004. Some new instruments 
are starting up more slowly than forecast and the funds already called up in 2003 and early 
this  year  will  suffice.  The  amount  remaining  at  the  end  of  the  year  is  estimated  at 
EUR 111 million. 

•  Since the payments estimate differs little from the May forecast, the Commission confirms its 
call  for  EUR 490 million  for  the  last  tranche  of  2004.  It  emphasises  that  this  tranche  will 
make  for  an  end-of  year  cash  position  of  some  EUR 80 million,  which,  compared  to  levels 
prior to 2002 (hundreds of millions of euro), is the minimum necessary for normal operation 
of the EDF. 

•  The total call for contributions for both institutions for the whole year is EUR 2 440 million, 
exactly the amount forecast by the Commission in its communication of October lat year.12 
The  Commission  therefore  believes  that  payment  of  this  last  tranche  should  not  pose 
budgetary  problems  for  the  Member  States.he  EIB  has  lowered  its  requirements  (from 
EUR 260 million to EUR 125 million) but this is fully offset by the Commission's increased 
estimate and therefore makes no difference to the cash position. 

Annex 1 sets out the three calls for contributions in 2004, by Member State. 

2.2. 

Calls for contributions in 2005 

•  The EIB should start the year with a healthy cash surplus (put at EUR 111 million) and so the 
2005 contributions can be reduced accordingly to EUR 155 million (against the May estimate 
of EUR 207 million). The funds available at the beginning of the year should also reduce the 
first call to EUR 60 million, which should cover requirements until the second call, which is 
likely to be around 27 July. The second and third calls are estimated at EUR 55 million and 
EUR 40 million respectively, giving a surplus of EUR 31 million for the whole year, which 
will  be  needed  to  ensure  normal  management  of  disbursements  until  the  first  2006 
contribution becomes available towards 21 January. 

•  With  revenue  of  some  EUR 55  million  in  recoveries  and  interest,  the  Commission  will 
require  funds  of  EUR 2 700  million  for  2005;  having  made  a  detailed  country-by-country 
analysis the Commission estimates that it will need EUR 1 500 million for the first tranche. 
This  is  a  very  high  figure  historically.  The  main  reason  is  that  the  total  amount  of  annual 
contributions  is  rising  year  on  year  (EUR 2 700 million  for  the  Commission  in  2005, 
EUR 2 120 million  in  2003  and  EUR 1 500  million  in  2002)  And  having  had  the  unhappy 
experience of a shortfall in funds at the end of 2003 and in May this year, the Commission 
would like to ensure that there will be no shortfall in 2005 and that it will be able to honour 
its obligations to the ACP countries and OCTs. 

The table in Annex 2 sets out the 2005 calls for contributions, by Member State. 

As  usual,  the  second  and  third  tranches  may  be  adjusted  up  or  down  in  line  with  real 
requirements at the time of the call for contributions. 

12 

Communication  from  the  Commission  to  the  Council:  financial  information  on  the  European  Development  Funds 
(COM(2003) 353 final of 13.06.2003). 

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3. 

EDF EXPENDITURE FORECASTS 2006 TO 2009 

On  the  question  of  commitments,  the  Commission  and  the  EIB  reiterate  their  pledge  to  do 
everything  in  their  power  to  mobilise  the  funds  made  available  under  the  9th  EDF  (including 
transfers from old Funds) by the end of 2007. It is clear that achievement of this objective is not 
up to the Commission and the EIB alone. Indeed, the very nature of the cooperation agreements 
(Lomé and Cotonou), namely the fact that they are based on partnership, means that the rate at 
which  the  EDF  is  implemented  will  depend  on  the  absorption  capacity  of  the  ACP  countries 
(sufficiently  stable  political  situation,  minimum  governance,  etc).  Although  the  Commission 
endeavours  to  give  national  authorising  officers  as  much  technical  assistance  as  possible,  it 
cannot actually act for the ACP country. Another determining factor will be any reallocation of 
funds following the mid-term reviews of 2004 and the final reviews in 2006. If allocations are 
not 
the  goal  will  not  be  achieved. 
The forecast  commitments for the period 2006-2007 are in line with the Commission's aim to 
commit all 9th EDF funds (including the remaining balances of the previous EDFs) by the end 
of  2007.  The  remaining  EUR 750 million  in  conditional  resources  have  not  been  taken  into 
account.  Since  the  Commission  is  proposing  to  budgetise  the  EDF,  no  forecasts  are  presented 
for 2008 and 2009. 

the  best-performing  countries, 

redirected 

to 

While it is difficult to make reliable long-term estimates for commitments, it is even harder for 
payments because the payments rate is dictated by factors over which the Commission has no 
control. In the case of projects, estimates are crucial at the design and decision phase but they 
play  only  an  ancillary  role  during  implementation.  The  pace  at  which  budgetary  aid,  which 
accounts for an increasing proportion of all aid, is disbursed also depends on factors not easily 
controllable, such as the economic situation and the political stability of the countries concerned.  

On the basis of the payment rates under previous Funds, and taking into account the expected 
beneficial  impact  of  the  reform  of  the  Commission's  external  service,  in  particular  the 
devolution  of  management  to  ACP  State  level,  the  Commission  and  the  EIB's  forecast  for 
payments is as follows. (The significant reduction in payments in 2008 and 2009 is based on the 
assumption that the EDF will be budgetised. This reduction would be offset by payments from 
the budget.) 

Table 5 

Forecast EDF commitments and payments2006-2009 

€ million 

2006 

Commitments 

3 500 

Payments 

3 400 

2007 

2 750 

3 100 

2008 

p.m. 

2 900 

2009 

p.m. 

2 650 

EN 

13 

   EN 

 
 
ANNEX 1 

Contributions to the EDF for 2004 by Member State (in euros) 

COUNTRY 

SCALE 

1st tranche 

2nd tranche 

3rd tranche 

TOTAL 

8th EDF 

paid to the 

paid to the 

paid to the 

paid to 

GERMANY 

BELGIUM 

DENMARK 

SPAIN 

FRANCE 

GREECE 

IRELAND 

ITALY 

LUXEMBOURG 

NETHERLANDS 

PORTUGAL 

% 
23,36 

3,92 

2,14 

5,84 

EIB 
29 200 000 

Commission 
169 360 000 

EIB 

4 900 000 

28 420 000 

2 675 000 

15 515 000 

7 300 000 

42 340 000 

24,30 

30 375 000 

176 175 000 

1,25 

0,62 

1 562 500 

775 000 

9 062 500 

4 495 000 

12,54 

15 675 000 

90 915 000 

0,29 

5,22 

0,97 

362 500 

2 102 500 

6 525 000 

37 845 000 

1 212 500 

7 032 500 

UNITED KINGDOM 

12,69 

15 862 500 

92 002 500 

AUSTRIA 

FINLAND 

SWEDEN 

TOTAL 

2,65 

1,48 

2,73 

3 312 500 

19 212 500 

1 850 000 

10 730 000 

3 412 500 

19 792 500 

100,00 

125 000 00013

725 000 000 

Commission 
256 960 000 

43 120 000 

23 540 000 

64 240 000 

267 300 000 

13 750 000 

6 820 000 

137 940 000 

3 190 000 

57 420 000 

10 670 000 

139 590 000 

29 150 000 

16 280 000 

30 030 000 

1 100 000 000 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

to be paid 
to the 

EIB 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

to be paid to 
the 

Commission 
114 464 000 

19 208 000 

10 486 000 

tranches 
569 984 000 

95 648 000 

52 216 000 

28 616 000 

142 496 000 

119 070 000 

592 920 000 

6 125 000 

3 038 000 

30 500 000 

15 128 000 

61 446 000 

305 976 000 

1 421 000 

7 076 000 

25 578 000 

127 368 000 

4 753 000 

23 668 000 

62 181 000 

309 636 000 

12 985 000 

7 252 000 

13 377 000 

64 660 000 

36 112 000 

66 612 000 

490 000 000 

2 440 000 000 

13 

Of which €5 million in interest-rate subsidies. 

EN 

14 

   EN 

 
 
 
 
                                                 
ANNEX 2 

Contributions to the EDF for 2005 by Member State (in euros) 

COUNTRY 

SCALE 

8th EDF 

% 

1st tranche 

2nd tranche 

3rd tranche 

TOTAL 

To be paid to 
the EIB 

To be paid to 
the 
Commission 

To be paid to 
the EIB 

To be paid to 
the 
Commission 

To be paid to 
the EIB 

To be paid to 
the 
Commission 

tranches 

GERMANY 

BELGIUM 

DENMARK 

SPAIN 

FRANCE 

GREECE 

IRELAND 

ITALY 

LUXEMBOURG 

NETHERLANDS 

PORTUGAL 

23,36 

14 016 000 

350 400 000 

12 848 000 

186 880 000 

9 344 000 

93 440 000 

666 928 000 

3,92 

2,14 

5,84 

24,3 

1,25 

0,62 

12,54 

0,29 

5,22 

0,97 

2 352 000 

58 800 000 

2 156 000 

31 360 000 

1 568 000 

15 680 000 

111 916 000 

1 284 000 

32 100 000 

1 177 000 

17 120 000 

856 000 

8 560 000 

61 097 000 

3 504 000 

87 600 000 

3 212 000 

46 720 000 

2 336 000 

23 360 000 

166 732 000 

14 580 000 

364 500 000 

13 365 000 

194 400 000 

9 720 000 

97 200 000 

693 765 000 

750 000 

372 000 

18 750 000 

9 300 000 

687 500 

341 000 

10 000 000 

4 960 000 

500 000 

248 000 

5 000 000 

2 480 000 

35 687 500 

17 701 000 

7 524 000 

188 100 000 

6 897 000 

100 320 000 

5 016 000 

50 160 000 

358 017 000 

174 000 

4 350 000 

159 500 

2 320 000 

116 000 

1 160 000 

8 279 500 

3 132 000 

78 300 000 

2 871 000 

41 760 000 

2 088 000 

20 880 000 

149 031 000 

582 000 

14 550 000 

533 500 

7 760 000 

388 000 

3 880 000 

27 693 500 

UNITED KINGDOM

12,69 

7 614 000 

190 350 000 

6 979 500 

101 520 000 

5 076 000 

50 760 000 

362 299 500 

AUSTRIA 

FINLAND 

SWEDEN 

TOTAL 

2,65 

1,48 

2,73 

1 590 000 

39 750 000 

1 457 500 

21 200 000 

1 060 000 

10 600 000 

75 657 500 

888 000 

22 200 000 

814 000 

11 840 000 

592 000 

5 920 000 

42 254 000 

1 638 000 

40 950 000 

100 

60 000 000 

1 500 000 000 

1 501 500 
55 000 00014

21 840 000 

1 092 000 

10 920 000 

77 941 500 

800 000 000 

40 000 000 

400 000 000 

2 855 000 000 

14 

Of which €5 million in interest-rate subsidies. 

EN 

15 

   EN