Internal Agreement between the Representatives of the Governments of the Member States, meeting within the Council, on the financing of Community aid under the multiannual financial framework for the period 2008 to 2013 in accordance with the ACP-EC Partnership Agreement and on the allocation of financial assistance for the Overseas Countries and Territories to which Part Four of the EC Treaty applies
Date: 2006-07-17
Institutions: Representatives of the Governments of the Member States
Subjects: ACP countries, EIB loan, EU aid, EU financing, European Development Fund, Member States' contribution, overseas countries and territories

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INTERNAL AGREEMENT

between the Representatives of the Governments of the Member States, meeting within the
Council, on the financing of Community aid under the multiannual financial framework for the
period 2008 to 2013 in accordance with the ACP-EC Partnership Agreement and on the allocation
of financial assistance for the Overseas Countries and Territories to which Part Four of the EC
Treaty applies

THE REPRESENTATIVES OF THE GOVERNMENTS OF THE MEMBER STATES OF THE EUROPEAN COMMUNITY,
MEETING WITHIN THE COUNCIL,

Having regard to the Treaty establishing the European Community,

After consulting the Commission,

After consulting the European Investment Bank,

Whereas:

(1)

(2)

(3)

(4)

(5)

Paragraph 3 of Annex Ia of the Partnership Agreement between the members of the African, Caribbean and
Pacific Group of States, of the one part and the European Community and its Member States, of the other part,
signed in Cotonou on 23 June 2000 (1) (hereinafter referred to as ‘the ACP-EC Partnership Agreement’), states that
‘any required amendments to the multiannual financial framework or relative parts of the Agreement shall be
decided by the Council of Ministers by derogation from Article 95 of this Agreement’.

The ACP-EC Council of Ministers, meeting in Port Moresby (Papua New Guinea) on 1 and 2 June 2006, adopted
Annex Ib to the ACP-EC Partnership Agreement and agreed therein to set the aggregate amount of Community
aid to the ACP States under the multiannual financial framework for the period 2008 to 2013, within the
framework of the ACP-EC Partnership Agreement, at EUR 21 966 million from the 10th European Development
Fund (hereinafter referred to as the ‘10th EDF’) contributed by Member States.

Council Decision 2001/822/EC of 27 November 2001 on the association of the overseas countries and territories
with the European Community (2) (hereinafter referred to as the ‘Association Decision’) is applicable until 31
December 2011. A new decision on the basis of Article 187 of the Treaty should be adopted before that date.
Before 31 December 2007, the Council, acting unanimously on a proposal from the Commission, should set at
EUR 286 million the amount from the 10th EDF for financial assistance over the period 2008-2013 to the
overseas countries and territories (hereinafter referred to as the ‘OCTs’) to which part four of the Treaty applies.

In accordance with Decision 2005/446/EC of the Representatives of the Governments of the Member States,
meeting within the Council of 30 May 2005 setting the deadline for the commitment of the funds of the 9th
European Development Fund (EDF) (3) the date beyond which the funds of the 9th EDF managed by the
Commission, the interest subsidies managed by the European Investment Bank (EIB) and the revenue accruing
from the interest on these appropriations should no longer be committed is set at 31 December 2007. This date
may be reviewed if necessary.

In order to implement the ACP-EC Partnership Agreement and the Association Decision, a 10th EDF should be
established and a procedure should be laid down for the allocation of funds and for contributions from Member
States to those funds.

(1) OJ L 317, 15.12.2000, p. 3. Agreement as amended by the Agreement signed in Luxembourg on 25 June 2005

(OJ L 287, 28.10.2005, p. 4).

(2) OJ L 314, 30.11.2001, p. 1.
(3) OJ L 156, 18.6.2005, p. 19.

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(6)

(7)

A review covering all aspects of European Union spending and resources should be conducted on the basis of a
report by the Commission in 2008 to 2009.

The Representatives of the Governments of the Member States, meeting within the Council, have agreed to
earmark an amount of EUR 430 million from the 10th EDF for support expenditure incurred by the Commission
in the programming and implementation of the EDF.

(8)

The rules for the administration of financial cooperation should be determined.

(9)

(10)

(11)

(12)

(13)

(14)

On 12 September 2000, the Representatives of the Governments of the Member States, meeting within the
Council adopted an Internal Agreement on the financing and administration of Community Aid under the
Financial Protocol to the ACP-EC Partnership Agreement and the allocation of
financial assistance for the
Overseas Countries and Territories to which Part Four of the EC Treaty applies (1) (hereinafter referred to as
the ‘Internal Agreement for the 9th EDF’).

A Committee of Representatives of the Governments of Member States should be set up at the Commission
(hereinafter referred to as the ‘EDF Committee’) and a similar Committee should be set up at the EIB. The work of
the Commission and the EIB to apply the ACP-EC Partnership Agreement and the corresponding provisions of the
Association Decision should be harmonised.

It is anticipated that Bulgaria and Romania will have joined the EU by 1 January 2008 and will adhere to the
ACP-EC Partnership Agreement and to the present
Internal Agreement according to their commitments
undertaken pursuant to the Treaty of Accession of Bulgaria and Romania and the Protocol thereto.

In its conclusions of 24 May 2005 the Council and the Representatives of the Governments of the Member States,
meeting within the Council on accelerating progress towards attaining the Millennium Development Goals
committed themselves to timely implementation and monitoring of the Paris Declaration on Aid Effectiveness
of the Organisation for Economic Cooperation and Development (OECD) adopted at the High-Level Forum of
Paris on 2 March 2005.

The Official Development Assistance (ODA) targets referred to in the above mentioned conclusions should be
recalled. When reporting expenditure within EDF to Member States and OECD Development Assistance
Committee, the Commission should distinguish between ODA and non-ODA activities.

On 22 December 2005, the Council and the Representatives of the Governments of the Member States meeting
within the Council, the European Parliament and the Commission adopted a Joint Statement on a European Union
Development Policy: The European Consensus (2).

(15)

The EDF should continue to prioritise support to the least-developed and other low-income countries.

(16)

On 11 April 2006, the Council approved the principle to fund the African Peace Facility from the intra-ACP funds
for an amount of up to EUR 300 million covering the initial period 2008 to 2010. A comprehensive evaluation
will take place during the third year, reviewing its modalities as well as the possibilities of alternative future
funding sources, including CFSP funding,

HAVE AGREED AS FOLLOWS:

(1) OJ L 317, 15.12.2000, p. 355.
(2) OJ C 46, 24.2.2006, p. 1.

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CHAPTER 1

(i) EUR 21 966 million shall be allocated to the ACP

FINANCIAL RESOURCES

Article 1

Resources of the 10th EDF

The Member States hereby set up a tenth European Devel-

1.
opment Fund, hereinafter referred to as ‘the 10th EDF’.

2.

The 10th EDF shall consist of:

(a) An amount of up to EUR 22 682 million contributed by the

Member States as follows:

Member State

Contribution key

Contribution in EUR

Belgium

Bulgaria (*)

Czech Republic

Denmark

Germany

Estonia

Greece

Spain

France

Ireland

Italy

Cyprus

Latvia

Lithuania

Luxembourg

Hungary

Malta

Netherlands

Austria

Poland

Portugal

Romania (*)

Slovenia

Slovakia

Finland

Sweden

3,53

0,14

0,51

2,00

20,50

0,05

1,47

7,85

19,55

0,91

12,86

0,09

0,07

0,12

0,27

0,55

0,03

4,85

2,41

1,30

1,15

0,37

0,18

0,21

1,47

2,74

800 674 600

31 754 800

115 678 200

453 640 000

4 649 810 000

11 341 000

333 425 400

1 780 537 000

4 434 331 000

206 406 200

2 916 905 200

20 413 800

15 877 400

27 218 400

61 241 400

124 751 000

6 804 600

1 100 077 000

546 636 200

294 866 000

260 843 000

83 923 400

40 827 600

47 632 200

333 425 400

621 486 800

United Kingdom

14,82

3 361 472 400

22 682 000 000

(*) Estimated amount.

The amount of EUR 22 682 million shall be available from
the entry into force of the multiannual financial framework,
of which

Group of States;

(ii) EUR 286 million shall be allocated to the OCT;

(iii) EUR 430 million shall be allocated to the Commission
for support expenditure as referred to in Article 6,
linked to programming and implementation of
the
EDF by the Commission.

(b) The funds referred to in Annex I to the ACP-EC Partnership
Agreement and Annex II A of the Association Decision and
allocated under the 9th EDF to finance the resources of the
Investment Facility set out in Annex II C of the Association
Decision (hereinafter referred to as the ‘Investment Facility’)
are not affected by Decision 2005/446/EC setting the date
beyond which the funds of the 9th EDF may no longer be
committed. These funds shall be transferred to the 10th EDF
and
implementation
arrangements for the 10th EDF from the date of entry
into force of the multiannual financial framework for the
period 2008 to 2013 under
the ACP-EC Partnership
Agreement and the date of entry into force of Council
decisions regarding the financial assistance to the OCT for
the period 2008 to 2013.

be managed

according

to the

After 31 December 2007, or after the date of entry into
3.
force of the multiannual financial framework for the period
2008 to 2013 if this date falls later, balances from the 9th
EDF or from previous EDFs shall no longer be committed,
the balances and funds decommitted
with the exception of
after this date of entry into force resulting from the system
guaranteeing the stabilisation of export earnings from primary
agricultural products (Stabex) under the EDFs prior to the 9th
EDF and of those funds referred to in paragraph 2(b). Those
funds possibly committed after 31 December 2007 until the
entry into force of the present agreement, as referred to above,
will exclusively be used to ensure the working ability of the EU
administration and to cover
the ongoing costs to sustain
running projects until the 10th EDF comes into force.

4.
Funds decommitted from projects under the 9th EDF or
from previous EDFs after 31 December 2007 shall no longer be
committed, unless decided otherwise by the Council unani-
mously, on the basis of a proposal by the Commission, with
the exception of the funds decommitted after this date of entry
into force resulting from the systems guaranteeing the stabili-
sation of export earnings from primary agricultural products
(Stabex) under the EDFs prior to the 9th EDF which shall be
automatically transferred to the respective national
indicative
programmes referred to in Article 2(a)(i) and Article 3(1) and
of those funds referred to in paragraph 2(b).

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The total amount of resources of the 10th EDF shall cover
5.
the period from 1 January 2008 to 31 December 2013. The
funds of the 10th EDF shall no longer be committed beyond 31
December 2013 unless the Council decides otherwise unani-
mously, on a proposal from the Commission.

Article 2

Resources allocated for the ACP States

The amount of EUR 21 966 million referred to in Article
instruments of
1(2)(a)(i)
cooperation as follows:

allocated between the

shall be

The

revenue

6.
from interest generated on operations
financed under commitments made under previous EDFs and
on the funds of the 10th EDF managed by the Commission and
deposited with the paying agents in Europe referred to in Article
37(1) of Annex IV to the ACP-EC Partnership Agreement shall
be credited to one or more bank accounts opened in the name
of the Commission and shall be used in accordance with the
terms of Article 6. The use of
the revenue from interest
generated on the funds of the 10th EDF managed by the EIB,
will be determined in the framework of the Financial Regulation
referred to in Article 10(2).

Should a new State accede to the EU, the allocation of
7.
contributions referred to in paragraph 2(a) shall be amended by
a decision of the Council acting unanimously, on the basis of a
proposal from the Commission.

8.
Financial resources may be adjusted by a decision of the
Council acting unanimously, in accordance with Article 62(2) of
the ACP-EC Partnership Agreement.

Any Member State may, without prejudice of the decision
9.
making rules and procedures set out in Article 8, provide to the
Commission or the EIB voluntary contributions to support the
objectives of the ACP-EC Partnership Agreement. Member States
may also co-finance projects or programmes for example in the
to be managed by the
framework of
Commission or the EIB. ACP ownership at the national
level
of such initiatives shall be guaranteed.

specific initiatives

shall

The Implementation and Financial Regulation referred to in
Article 10,
for co-
financing by the EDF, as well as for co-financing activities
implemented by Member States. Member States shall
inform
the Council in advance of their voluntary contributions.

include the necessary provisions

The Council shall, in accordance with paragraph 7 of the
10.
Financial Protocol of
the ACP-EC Partnership Agreement,
together with the ACP States, conduct a performance review,
assessing the degree of realisation of commitments and disbur-
sements, and the results and impact of the aid provided. The
review shall be undertaken on the basis of a proposal to be
prepared by the Commission in 2010. This performance review
shall contribute to a decision on the amount of the financial
cooperation after 2013.

(a) EUR 17 766 million to finance national and regional indi-
cative programmes. This allocation will be used to finance

(i) the national indicative programmes of the ACP States in
accordance with Articles 1 to 5 of Annex IV to the
ACP-EC Partnership Agreement;

(ii) the regional

for
indicative programmes of
regional and inter-regional cooperation and integration
of ACP States in accordance with Articles 6 to 11, 13(1)
and 14 of Annex IV to the ACP-EC Partnership
Agreement.

support

include structural support

(b) EUR 2 700 million to finance intra-ACP and inter-regional
cooperation with many or all of the ACP States, including,
in accordance with Articles 12, 13(2) and 14 of Annex IV
to the ACP-EC Partnership Agreement concerning imple-
mentation and management procedures. This envelope
shall
institutions:
the CDE and the CTA referred to and supervised
according to the rules and procedures set out in Annex III
to the ACP-EC Partnership Agreement, and the Joint Parlia-
mentary Assembly referred to in Article 17 thereof. This
envelope shall also cover assistance for the operating expen-
ditures of the ACP Secretariat referred to in points 1 and 2
of Protocol 1 attached to the ACP-EC Partnership
Agreement;

to the joint

(c) Part of the resources referred to under points (a) and (b)
shocks and for
may be used to respond to external
unforeseen needs,
for comple-
mentary short-term humanitarian relief and emergency
assistance where such support cannot be financed from
the Community budget, to mitigate the adverse effects of
short-term fluctuations in export earnings.

including, as appropriate,

(d) EUR 1 500 million in the form of an allocation to the EIB
to finance the Investment Facility in accordance with the
terms and conditions set out in Annex II to the ACP-EC
Partnership Agreement, comprising an additional contri-
the
bution of EUR 1 100 million to the resources of
Investment Facility, managed as a revolving fund, and
EUR 400 million under
the
financing of
the interest rate subsidies provided for in
Articles 2 and 4 of Annex II to the ACP-EC Partnership
Agreement over the period of the 10th EDF.

the form of grants

for

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Article 3

Resources allocated for the OCTs

1.
The amount of EUR 286 million referred to in Article
1(2)(a)(ii) shall be allocated according to the Council Decision
to be taken before 31 December 2007 amending the Asso-
ciation Decision pursuant
the Treaty, of
which EUR 256 million to finance national and regional indi-
cative programmes, and EUR 30 million in the form of an
allocation to the EIB to finance the Investment Facility in
accordance with the Association Decision.

to Article 187 of

2. Where an OCT becomes independent and accedes to the
ACP-EC Partnership Agreement,
indicated in
paragraph 1 shall be reduced and those indicated in Article
2(a)(i) correspondingly increased by a decision of the Council
acting unanimously on a proposal from the Commission.

the amount

Article 4

Loans from the EIB’s own resources

1.
To the amount allocated to the investment facility under
the 9th EDF referred to in Article 1(2)(b) and the amount
referred to in Article 2(d) shall be added an indicative amount
of up to EUR 2 030 million in the form of loans granted by the
EIB from its own resources. These resources shall be allocated
for an amount of up to EUR 2 000 million for the purposes set
out in Annex II to the ACP-EC Partnership Agreement and for
an amount of up to EUR 30 million for the purposes set out in
in accordance with the conditions
the Association Decision,
specified in its statutes and the relevant provisions of
the
terms and conditions for investment financing as laid down
in Annex II to the ACP-EC Partnership Agreement and the
Association Decision.

to its

2.
The Member States shall undertake to act as guarantor for
the EIB, waiving any right to object and in proportion to their
contributions
financial
commitments arising for borrowers under contracts concluded
by the EIB for loans from its own resources pursuant to Article
1 of Annex II to the ACP-EC Partnership Agreement and the
corresponding provisions of the Association Decision.

in respect of

capital,

all

departments, together with the proceeds and income from risk
capital operations, under the EDFs prior to the 9th EDF shall be
credited to the Member States in proportion to their contri-
butions to the EDF to which the sums relate, unless the
from the
Council decides unanimously, on a proposal
Commission,
to place them in reserve or allocate them to
other purposes.

2.
Any commission due to the EIB for managing the loans
and operations referred to in paragraph 1 shall be deducted in
advance from the sums to be credited to the Member States.

3.
Proceeds and income received by the EIB from operations
under the Investment Facility under the 9th and 10th EDF shall
be used for further operations under that Facility, in accordance
to the ACP-EC Partnership
with Article 3 of Annex II
Agreement and after deduction of exceptional expenses and
liabilities arising in connection with the Investment Facility.

4.
The EIB shall be remunerated on a full indemnity basis for
the management of the Investment Facility operations referred
to in paragraph 3, in accordance with Article 3(1a) of Annex II
to the ACP-EC Partnership Agreement.

Article 6

Resources reserved for support expenditure linked to the
EDF

1.
The resources of the EDF shall cover the costs for support
measures. The resources referred to in Article 1(2)(a)(iii) and
Article 1(5) shall cover costs linked to the programming and
implementation of the EDF which are not necessarily covered
by the strategy support papers and multiannual
indicative
programmes
referred to in the Implementation Regulation
referred to in Article 10(1).

The resources for support measures may cover expen-

2.
diture associated with:

3.
The guarantee referred to in paragraph 2 shall be
restricted to 75 % of the total amount of credits opened by
the EIB under all the loan contracts, but shall cover all risks.

(a)

follow-up, monitoring, accounting, audit
the preparation,
the
activities
evaluation
and
programming and implementation of the resources of the
EDF managed by the Commission;

necessary

directly

for

4.
The undertakings referred to in paragraph 2 shall be the
subject of guarantee contracts between each Member State and
the EIB.

Article 5

Operations managed by the EIB

1.
loans
Payments made to the EIB in respect of special
granted to the ACP States, the OCTs and the French overseas

(b) the achievement of these objectives, through development
information,

policy research activities, studies, meetings,
awareness-raising, training and publication activities; and

(c) computer networks for the exchange of information, and
any other administrative or technical assistance expenditure
that the Commission may incur for the management of the
EDF.

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They shall also cover expenditure both at Commission head-
quarters and in Delegations on the administrative support
needed to manage operations financed under the ACP-EC Part-
nership Agreement and the Association Decision.

Each year, the Commission, taking into account the EIB’s
5.
forecasts, shall communicate to the Council by 15 October its
estimates of commitments, disbursements and contributions for
each of
the three years following the years referred to in
paragraph 1.

They shall not be assigned to core tasks of the European public
service, i.e. the Commission's permanent staff.

CHAPTER II

IMPLEMENTATION AND FINAL PROVISIONS

Article 7

Contributions to the 10th EDF

Each year, the Commission, taking into account the EIB's
1.
forecasts concerning the management and operation of
the
Investment Facility, shall establish and communicate to the
Council by 15 October a statement of
the commitments,
payments and the annual amount of the calls for contributions
to be made in the current and the two following budget years.
These amounts shall be based on the capacity to deliver the
proposed level of resources effectively.

2.
Upon a proposal from the Commission, specifying the
part for the Commission and the EIB, the Council shall decide
by qualified majority, as laid down in Article 8, on the ceiling
for the annual amount of the contribution for the second year
following the proposal from the Commission (n+2) and, within
the ceiling decided the previous year, on the annual amount of
the call for contribution for the first year following the proposal
from the Commission (n+1).

3.
Should the contributions decided according to paragraph
2 deviate from the EDF's actual needs during the financial year
in question, the Commission shall submit proposals to amend
the contribution amounts within the ceiling referred to in
paragraph 2 to the Council, which shall take a decision by
qualified majority as laid down in Article 8.

The calls

4.
for contribution cannot exceed the ceiling
referred to in paragraph 2 nor can the ceiling be increased
except when decided by the Council by qualified majority as
laid down in Article 8 in cases of special needs resulting from
exceptional or unforeseen circumstances such as post-crisis
situations. In this case, the Commission and the Council shall
ensure that contributions correspond to expected payments.

6.
As regards funds transferred from previous EDFs to the
10th EDF in accordance with Article 1(2)(b) and Article 1(3),
the contributions of each Member State shall be calculated in
proportion to the contribution of each Member State to the
EDF in question.

As regards funds of the 9th EDF and the previous EDF that are
not transferred to the 10th EDF, the impact on the contribution
of each Member State shall be calculated in proportion to the
contribution of each Member State to the 9th EDF.

The detailed rules for the payment of contributions by the
7.
Member States shall be determined by the Financial Regulation
referred to in Article 10(2).

Article 8

The European Development Fund Committee

A Committee (hereinafter ‘the EDF Committee’) consisting
1.
of Representatives of the Governments of the Member States
shall be set up at the Commission for those resources of the
10th EDF which the Commission administers. The EDF
Committee shall be chaired by a Commission representative
and its secretariat shall be provided by the Commission. A
representative of the EIB shall take part in its work.

2. Within the EDF Committee,
States shall be weighted as follows:

the votes of the Member

Member State

Votes EU-27

Belgium

Bulgaria (*)

Czech Republic

Denmark

Germany

Estonia

Greece

Spain

France

Ireland

Italy

Cyprus

35

[1]

5

20

205

1

15

79

196

9

129

1

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Member State

Votes EU-27

Latvia

Lithuania

Luxembourg

Hungary

Malta

Netherlands

Austria

Poland

Portugal

Romania (*)

Slovenia

Slovakia

Finland

Sweden

United Kingdom

Total EU-25

Total EU-27 (*)

(*) Estimated vote.

1

1

3

6

1

49

24

13

12

[4]

2

2

15

27

148

999

[1 004]

The EDF Committee shall act by a qualified majority of
3.
720 votes out of 999, expressing a vote in favour by at least 13
Member States. The blocking minority shall consist of 280
votes.

4.
Should a new State accede to the EU, the weightings laid
down in paragraph 2 and the qualified majority referred to in
paragraph 3 shall be amended by a decision of the Council,
acting unanimously.

The Council shall adopt the rules of procedure of the EDF

5.
Committee acting unanimously.

The Investment Facility Committee shall act by a qualified

3.
majority, as laid down in Article 8(2) and 8(3).

Article 10

Implementing provisions

thereunder, all

1. Without prejudice to Article 8 of this Agreement and the
Member States' voting rights
the relevant
provisions of Articles 14 to 30 of the Internal Agreement for
the 9th EDF shall remain in force pending the Council decision
on an Implementation Regulation for the 10th EDF. This Imple-
mentation Regulation shall be decided upon by unanimity,
based on a proposal by the Commission and after consulting
the EIB.

The Implementation Regulation shall contain appropriate modi-
fications and improvements to the programming and decision-
making procedures, as well as harmonise Community and EDF
procedures as far as possible, including on co-financing aspects.
It shall furthermore establish particular management procedures
for the Peace Facility. Recalling that
financial and technical
assistance for the implementation of Articles 11(6), 11a and
11b of the ACP-EC Partnership Agreement will be financed
by specific instruments other
the
financing of
the ACP-EC Cooperation, activities developed
under these provisions need to be approved by prior specified
budgetary management procedures.

than those intended for

A Financial Regulation shall be adopted before the entry
2.
into force of the ACP-EC Partnership Agreement by the Council,
acting by a qualified majority as laid down in Article 8, on the
basis of a proposal from the Commission and after an opinion
has been delivered by the EIB on those provisions concerning it
and by the Court of Auditors.

Article 9

The Investment Facility Committee

The Commission will present its proposals for the regu-
3.
lations referred to in paragraphs (1) and (2) foreseeing, inter alia,
the possibility of delegating the implementation of tasks to third
parties.

‘the

Investment

(hereinafter

A Committee

the Member States

1.
Facility
Committee’) consisting of Representatives of the Governments
of
the
and of
Commission shall be set up under the auspices of the EIB.
The EIB shall provide the Committee’s secretariat and support
services. The Chairperson of the Investment Facility Committee
shall be elected by and from within the members of
the
Investment Facility Committee.

representative of

a

The Council shall adopt the rules of procedure of the

2.
Investment Facility Committee, acting unanimously.

Article 11

Financial implementation, accounting, audit and discharge

1.
The Commission shall undertake the financial implemen-
tation of the envelopes it manages on the basis of Article 1(8),
Article 2(a), (b) and (c), Article 3(1) and Article 6 and shall
undertake the financial execution of projects and programmes
in accordance with the Financial Regulation referred to in
Article 10(2). For the recovery of sums unduly paid, decisions
of the Commission shall be enforceable in accordance with
Article 256 of the EC Treaty.

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thereunder on behalf of

The EIB shall manage the Investment Facility and conduct
2.
operations
in
accordance with the rules set out in the Financial Regulation
referred to in Article 10(2). In so doing, the EIB shall act on
the Community. Any rights
behalf of, and at
resulting from such operations, in particular rights as creditor
or owner, shall be vested in the Member States.

the Community,

the risk of,

The EIB shall undertake, according to its statutes and best
3.
implementation of operations
banking practice, the financial
carried out by means of
loans from its own resources as
referred to in Article 4, where applicable combined with
interest rate subsidies drawn from the EDF’s grant resources.

For each financial year, the Commission shall draw up and
4.
approve the accounts of
the EDF and send them to the
European Parliament, the Council and the Court of Auditors.

5.
The Commission shall make the information referred to in
Article 10 available to the Court of Auditors so that the latter
may, on the basis of
the documentary evidence, carry out
checks on the aid provided from EDF resources.

6.
Each year, the EIB shall send the Commission and the
Council its Annual Report on the implementation of operations
financed from the EDF resources it manages.

Subject

this Article,

to paragraph 9 of

7.
the Court of
Auditors shall exercise the powers conferred on it by Article
248 of the EC Treaty in respect of the EDF's operations. The
conditions under which the Court of Auditors exercises its
powers shall be laid down in the Financial Regulation referred
to in Article 10(2).

The discharge for the financial management of the EDF,
8.
excluding operations managed by the EIB, shall be given to the
Commission by the European Parliament on the recommen-
dation of the Council, acting by a qualified majority as laid
down in Article 8.

The operations financed from the EDF resources managed
to the control and discharge
its

9.
by the EIB shall be subject
procedure laid down by the Statute of
operations.

the EIB for all

Article 12

Revision clause

Article 1(3) and the Articles contained in Chapter II, with the
exception of amendments to Article 8, may be amended by the
Council, acting unanimously and on a proposal
from the
Commission. The EIB shall be associated with the Commission's
proposal on matters relating to its activities and those of the
Investment Facility.

Article 13

Ratification, entry into force and duration

Each Member State shall approve this Agreement

in
1.
accordance with its own constitutional
requirements. The
Government of each Member State shall notify the General
Secretariat of the Council of the European Union when the
procedures required for the entry into force of this Agreement
have been completed.

This Agreement shall enter into force on the first day of
2.
the second month following the notification of the approval of
this Agreement by the last Member State.

This Agreement is concluded for the same duration as the
3.
multiannual financial framework of Annex Ib to the ACP-EC
Partnership Agreement. However, notwithstanding Article 1(4),
this Agreement shall remain in force for as long as is necessary
for all the operations financed under the ACP-EC Partnership
Agreement and the Association Decision and the said multi-
annual financial framework to be fully executed.

Article 14

Authentic languages

This Agreement, drawn up in a single original
in the Czech,
Danish, Dutch, English, Estonian, Finnish, French, German,
Greek, Hungarian, Italian, Latvian, Lithuanian, Maltese, Polish,
Portuguese, Slovak, Slovenian, Spanish and Swedish languages,
each of these texts being equally authentic, shall be deposited in
the archives of the General Secretariat of the Council of the
European Union, which shall transmit a certified copy to each
of the governments of the signatory States.

L 247/40

EN

Official Journal of the European Union

9.9.2006

Hecho en Bruselas, el diecisiete de julio de dos mil seis.

V Bruselu dne sedmnáctého července dva tisíce šest.

Udfærdiget i Bruxelles den syttende juli to tusind og seks.

Geschehen zu Brüssel am siebzehnten Juli zweitausendsechs.

Kahe tuhande kuuenda aasta juulikuu seitsmeteistkümnendal päeval Brüsselis.

'Εγινε στις Βρυξέλλες, στις δέκα επτά Ιουλίου δύο χιλιάδες έξι.

Done at Brussels on the seventeenth day of July in the year two thousand and six.

Fait à Bruxelles, le dix-sept juillet deux mille six.

Fatto a Bruxelles, addì diciassette luglio duemilasei.

Briselē, divtūkstoš sestā gada septiņpadsmitajā jūlijā.

Priimta du tūkstančiai šeštų metų liepos septynioliktą dieną Briuselyje.

Kelt Brüsszelben, a kettőezer hatodik év július tizenhetedik napján.

Magħmul fi Brussel, fis-sbatax jum ta' Lulju tas-sena elfejn u sitta.

Gedaan te Brussel, de zeventiende juli tweeduizend zes.

Sporządzono w Brukseli, dnia siedemnastego lipca roku dwa tysiące szóstego.

Feito em Bruxelas, em dezassete de Julho de dois mil e seis.

V Bruseli dňa sedemnásteho júla dvetisícšesť.

V Bruslju, sedemnajstega julija leta dva tisoč šest.

Tehty Brysselissä seitsemäntenätoista päivänä heinäkuuta vuonna kaksituhattakuusi.

Som skedde i Bryssel den sjuttonde juli tjugohundrasex.

9.9.2006

EN

Official Journal of the European Union

L 247/41

Pour Sa Majesté le Roi des Belges
Voor Zijne Majesteit de Koning der Belgen
Für Seine Majestät den König der Belgier

Za prezidenta České republiky

For Hendes Majestæt Danmarks Dronning

Für den Präsidenten der Bundesrepublik Deutschland

Eesti Vabariigi Presidendi nimel

L 247/42

EN

Official Journal of the European Union

9.9.2006

Για τον Πρόεδρο της Ελληνικής Δημοκρατίας

Por Su Majestad el Rey de España

Pour le Président de la République française

Thar ceann Uachtarán na hÉireann
For the President of Ireland

Per il Presidente della Repubblica italiana

9.9.2006

EN

Official Journal of the European Union

L 247/43

Για τον Πρόεδρο της Κυπριακής Δημοκρατίας

Latvijas Republikas Valsts prezidentes vārdā

Lietuvos Respublikos Prezidento vardu

Pour Son Altesse Royale le Grand-Duc de Luxembourg

A Magyar Köztársaság Elnöke részéről

L 247/44

EN

Official Journal of the European Union

9.9.2006

Għall-President ta' Malta

Voor Hare Majesteit de Koningin der Nederlanden

Für den Bundespräsidenten der Republik Österreich

Za Prezydenta Rzeczypospolitej Polskiej

Pelo Presidente da República Portuguesa

9.9.2006

EN

Official Journal of the European Union

L 247/45

Za predsednika Republike Slovenije

Za prezidenta Slovenskej republiky

Suomen Tasavallan Presidentin puolesta
För Republiken Finlands President

För Konungariket Sveriges regering

For Her Majesty the Queen of the United Kingdom of Great Britain and Northern Ireland