COMMUNICATION FROM THE COMMISSION TO THE COUNCIL Financial information on the European Development Fund
Date: 2012-07-10
Institutions: European Commission
Subjects: European Development Fund, European Investment Bank, financial situation, national budget

EUROPEAN COMMISSION 

Brussels, 10.7.2012  
COM(2012) 386 final 

COMMUNICATION FROM THE COMMISSION TO THE COUNCIL 

Financial information on the European Development Fund 

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COMMUNICATION FROM THE COMMISSION TO THE COUNCIL 

Financial information on the European Development Fund 

1. 

FOREWORD 

In accordance with Article 7(3) of the Internal Agreement1 and Articles 57(3) and (4) 
of  the  10th  EDF  Financial  Regulation2,  the  Commission  presents  in  this  document 
estimates of commitments, payments and contributions for the period 2012 to 2013, 
taking into account the forecasts of the European Investment Bank (EIB) concerning 
the Investment Facility. 

This  document  sets  out  the  financial  implementation  of  the  EDFs  (8th  to  10th)  for 
2011 and the forecasts of implementation for 2012 to 2014. 

The  Member  States  contribute  funds  directly  to  the  European  Investment  Bank  for 
the  instruments  which  it  manages  under  the  9th  and  10th  EDFs  (the  Investment 
Facility  and  interest-rate  subsidies).  Contributions  for  other  instruments,  including 
contributions for the old instruments managed by the EIB (risk capital and interest-
rate subsidies), go to the Commission. 

2. 

INTRODUCTION 

The Commission and the EIB have updated their commitment and payment forecasts 
for  2012  and  2013  for  each  of  the  ACP  countries3  and  the  OCTs4.  The  payment 
forecasts in particular have been compiled with the aim of helping the Member States 
to assess as accurately as possible the amounts they need to earmark in their national 
budgets while ensuring that sufficient financial resources are available for the EDF to 
avoid liquidity problems. 

In accordance with Article 7 of the Internal Agreement on the 10th EDF5 and Article 
57(5) of the Financial Regulation6, the estimates provided in this  document will  be 
updated in the October 2012 communication. 

The graph below shows the general trend in commitments and payments, including 
projections for 2012 - 2013 (Commission and EIB). 

1 

2 

3 
4 
5 
6 

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, OJ L 247, 9.9.2006, p. 32. 
Council Regulation (EC) No 215/2008 of 18 February 2008 on the Financial Regulation applicable to 
the 10th European Development Fund. 
African, Caribbean and Pacific States. 
Overseas Countries and Territories. 
OJ L 247, 9.9.2006, p. 32. 
Council Regulation (EC) No 215/2008 of 18 February 2008 on the Financial Regulation applicable to 
the 10th European Development Fund. 

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Gross commitments and payments: trend 1998-2013 (Million EUROS)7 

5,500

4,750

4,000

3,250

2,500

1,750

COMMITM

PAYMENTS

1,000

1998

COMMITM 2,606

PAYMENTS

1,595

1999

2,958

1,352

2000

4,007

1,640

2001

1,927

1,779

2002

2,125

1,922

2003

4,137

2,349

2004

2,972

2,558

2005

4,020

2,704

2006

4,049

3,062

2007

3,922

3,251

2008

5,241

3,483

2009

4,158

3,359

2010

3,113

3,660

2011

3,740

3,308

2012

4,022

3,538

2013

4,836

3,806

3. 

IMPLEMENTATION  OF  THE  EUROPEAN  DEVELOPMENT  FUNDS  AT  31  DECEMBER 
2011 (COMMITMENTS, PAYMENTS AND FINANCIAL SITUATION) 

The  annexes 1,  2  and  3  show  respectively  the  actual  commitments,  payments  and 
financial  situation  recorded  in  2011  compared  with  the  forecasts  made  in  October 
20118, and the projections made for 2012 and 2013. 

At  year  end  2011,  around  63%  of  the  10th  EDF  had  been  committed,  on  track  to 
meet our target to commit the 10th EDF before the end of 2013. 

4. 

FINANCIAL FORECASTS FOR 2012 – 20149 

The following table provides an update based on our latest forecasts. 

7 
8 
9 

For 2012-2013, forecasted amounts 
COM(2011) 692 final of 26.10.2011. 
As  the  financial  framework  for  the  period  after  2013  has  not  been  agreed  and  is  expected  to  have  a 
material impact on the implementation figures, amounts for 2014 are given p.m. and no forecasts are 
given for the year 2015. 

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Forecasts 2012-2014 (*)

Commitments

Commission
EIB
Payments

Commission
EIB
Contributions

Commission
EIB

2012

3,400
622

3,103
435

2,600
280

2013

2014

4,200
636

3,400
406

3,300
250

3,750
685

3,400
545

3,400
520

* gross amounts, i.e. no decommitments or recoveries/reflows have been deducted. This 
approach is in line with that used for the general budget of the EU.

5. 

FINANCIAL IMPLEMENTATION FORECASTS FOR 2012 AND 2013 

The new forecasts are set out in Annexes 1 to 3. 

The Member States contributions to the EDF for 2012 were decided by the Council 
in October 201110, at EUR 3 600 million for the Commission and EUR 280 million 
for  the  EIB.  The  new  2012  forecasts  confirm  the  EIB's  treasury  needs  of 
EUR 280 million. Due to lower than forecasted payments in 2011 and the fact that a 
considerable  cash  balance  was  carried  over  from  2010,  the  Commission's  believes 
that it is justified to reduce its request to EUR 2 600 million. 

The  new  ceiling  proposed  for  the  Member  States  contributions  in 2013  amounts  to 
EUR 3 300 million for the Commission and EUR 250 million for the EIB 11. 

It should be stressed that these figures are a preliminary forecast and must be treated 
with  caution.  The  Commission  and  the  EIB  will  make  more  reliable  forecasts  after 
the summer. They will be presented in the October communication. 

10 
11 

Council Decision of 18 November 2011– Council document 16965/11. 
Council Decision of 18 November 2011– Council document 16965/11. 

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Annex 1: Gross commitments made in 2011 and forecast 2012 and 2013 (EUR million)

2011

2012

2013

COM Oct 11

Made

COM Oct 11 Revised  COM Oct 11

Revised

Regions

East Africa

West Africa

Central Africa

Caribbean

Pacific

Southern Africa

Sub-total

Other

388

841

440

395

41

199

438

1001

453

231

41

220

703

1,168

192

60

167

540

774

986

352

310

141

483

2304

2384

2830

3046

Water and Energy Facility

Other*

127

819

107

788

93

827

81

273

Total European Commission

3,250

3,279

3,750

3,400

3,900

4,200

Investment facility

Interest rate subsidies

Total EIB

TOTAL EC+EIB

504

75

579

407

54

461

450

90

540

500

122

622

500

90

590

3829

3740

4290

4022

4490

550

86

636

4836

Gross commitments, i.e. without decommitments being deducted.

*Includes certain support expenditures, e.g. to support joint institutions and the ACP Secretariat.

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Annex 2: Gross payments made in 2011 and forecasts 2012 and 2013 (EUR million)

2011

2012

2013

COM Oct 11

Made

COM Oct 11

Revised COM Oct 11 Revised

Regions

East Africa

West Africa

Central Africa

Caribbean

Pacific

Southern Africa

Sub-total

Other 

Peace Facility

Infrastructure Trust Fund

Vulnerability Flex  

Water and Energy Facility

Risk capital (*) 
Other 

Sub-total

Stabex

Total European Commission

Investment facility

Interest rate subsidies

Total  EIB

TOTAL EC+EIB

477

738

441

234

90

340

499

724

360

183

76

303

521

850

546

297

99

485

431

797

401

271

130

363

2,320

2,145

2,798

2,393

116

50

66

158

25
748

3,483

17

3,500

310

75

385

142

0

4

154

19
477

2,941

4

2,945

309

54

363

150

54

0

87

20
541

3,650

0

3,650

300

90

390

92

50

0

113

20
435

3,103

0

3,103

313

122

435

3,900

3,400

300

90

390

320

86

406

3,885

3,308

4,040

3,538

4,290

3,806

Gross payments, i.e. without recoveries being deducted.

* Including interest rate subsidies under previous EDFs

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Annex 3: Financial situation end 2011 and forecast 2012 and 2013 (EUR million)

COM October 20111

Revision

TOTAL

C o m m is s io n

C o m m is s io n

715
3,100
1,910
1,000
190
-272
124

90

10

-3,500
17

284
3,600
1,950
1,200
450

65

-3,650

299
3,800

E IB

129
200
100
100
0

140

-385

84
280
100
100
80

110

-390

84
250
110

-3,900

-390

199

54

Balance 31/12/2010 2
Contributions 2011, of which:

1st instalment
2nd instalment
3rd instalment

Contributions 2011 received  in 2010
Contributions 2010 received  in 2011
Contributions 2012 received  in 2011
Contributions 2011 not received at year end
Reflows  3
Recoveries, interest and other
Stabex recoveries (transferable to 10th EDF 
NIP)
Total payments  4
Payments Stabex (already financed)
Balance at 31/12/2011 5
Contributions 2012 of which:

1st instalment
2nd instalment
3rd instalment

Contributions 2012 received in 2011
Contributions 2011 received in 2012
Reflows  3
Recoveries, interest and other
Total payments  4
Payments Stabex (already financed)
Balance at 31/12/2012
Contributions 2013, of which:
Reflows  3
Recoveries, interest and other
Total payments  4
Payments Stabex (already financed)
Balance at 31/12/2013

COM(2011) 692 final dated 26.10.2011

Funds available for operations,

 Net of EIB management fees

1
1
0
2

2
1
0
2

3
1
0
2

1

2

3

4

5

715
3,100
1,910
1,000
190
-272
124
295
-7

97

26

-2,941
3

1,140
2,600
1,950
450
200
-295
7

65

-3,103
0
414
3,300

50

-3,400

844
3,300
2,010
1,100
190
-272
124
0
0

140
90

10

-3,885
17

368
3,880
2,050
1,300
530
0
0

110
65

-4,040
0
383
4,050
110
0

-4,290
0
253

E IB

129
200
100
100
0

127

-363

93
280
100
100
80

110

-435

48
250
110

-406

TOTAL

844
3,300
2,010
1,100
190
-272
124
295
-7

127
97

26

-3,304
3

1,233
2,880
2,050
550
280
-295
7

110
65

-3,538
0
462
3,550
110
50

-3,806
0
366

364

2

 Including interest rates subsidies under the previous EDFs

 T his balance does not include:

     - cofinancings received from Member States, their balance amounting to EUR 79 million at 31.12.2011

     - balance on the stabex security accounts, amounting to EUR 5 million at 31.12.2011

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Annex 4. Contributions to the EDF for 2012 by Member State (EUR) 

MEMBER ST AT ES

Key 9th 
EDF

Key 
10th 
EDF

%

%

1st instalme nt made

2nd instalme nt re que ste d

3rd instalme nt fore caste d

paid to

EIB

paid to

Commission

paid to

EIB

paid to

Commission

paid to

EIB

paid to

Commission

9th EDF

10th EDF

9th EDF

10th EDF

9th EDF

10th EDF

Total 1st 
instalme nt   

Total 2nd 
instalme nt   

Total 3rd 
instalme nt   

2012 Total 
EIB (9th EDF)

2012 Total 
Commission 
(10th EDF)

Overall total 
2012

3.92

2.14

3.53

2.00

3,920,000

68,835,000

3,920,000

15,885,000

3,136,000

2,140,000

39,000,000

2,140,000

9,000,000

1,712,000

7,060,000

4,000,000

72,755,000

19,805,000

10,196,000

10,976,000

91,780,000

102,756,000

41,140,000

11,140,000

5,712,000

5,992,000

52,000,000

57,992,000

23.36

20.50

23,360,000

399,750,000

23,360,000

92,250,000

18,688,000

41,000,000

423,110,000

115,610,000

59,688,000

65,408,000

533,000,000

598,408,000

BELGIUM

DENMARK

GERMANY

GREECE

SPAIN

FRANCE

IRELAND

IT ALY

LUXEMBOURG

NET HERLANDS

AUST RIA

PORT UGAL

FINLAND

SWEDEN

1.25

5.84

24.30

0.62

12.54

0.29

5.22

2.65

0.97

1.48

2.73

UNIT ED KINGDOM 12.69

BULGARIA

CZECH REPUBLIC

EST ONIA

CYPRUS

LAT VIA

LIT HUANIA

HUNGARY

MALT A

POLAND

ROMANIA

SLOVENIA

SLOVAKIA

1.47

7.85

19.55

0.91

12.86

0.27

4.85

2.41

1.15

1.47

2.74

14.82

0.14

0.51

0.05

0.09

0.07

0.12

0.55

0.03

1.30

0.37

0.18

0.21

1,250,000

28,665,000

1,250,000

6,615,000

1,000,000

2,940,000

29,915,000

7,865,000

3,940,000

3,500,000

38,220,000

41,720,000

5,840,000

153,075,000

5,840,000

35,325,000

4,672,000

15,700,000

158,915,000

41,165,000

20,372,000

16,352,000

204,100,000

220,452,000

24,300,000

381,225,000

24,300,000

87,975,000

19,440,000

39,100,000

405,525,000

112,275,000

58,540,000

68,040,000

508,300,000

576,340,000

620,000

17,745,000

620,000

4,095,000

496,000

1,820,000

18,365,000

4,715,000

2,316,000

1,736,000

23,660,000

25,396,000

12,540,000

250,770,000

12,540,000

57,870,000

10,032,000

25,720,000

263,310,000

70,410,000

35,752,000

35,112,000

334,360,000

369,472,000

290,000

5,265,000

290,000

5,220,000

2,650,000

94,575,000

5,220,000

46,995,000

2,650,000

970,000

22,425,000

970,000

1,480,000

28,665,000

1,480,000

1,215,000

21,825,000

10,845,000

5,175,000

6,615,000

232,000

4,176,000

2,120,000

776,000

1,184,000

2,730,000

53,430,000

2,730,000

12,330,000

2,184,000

540,000

5,555,000

1,505,000

772,000

812,000

7,020,000

7,832,000

9,700,000

4,820,000

2,300,000

2,940,000

5,480,000

99,795,000

27,045,000

13,876,000

14,616,000

126,100,000

140,716,000

49,645,000

13,495,000

23,395,000

30,145,000

6,145,000

8,095,000

56,160,000

15,060,000

6,940,000

3,076,000

4,124,000

7,664,000

7,420,000

62,660,000

70,080,000

2,716,000

4,144,000

29,900,000

32,616,000

38,220,000

42,364,000

7,644,000

71,240,000

78,884,000

12,690,000

288,990,000

12,690,000

66,690,000

10,152,000

29,640,000

301,680,000

79,380,000

39,792,000

35,532,000

385,320,000

420,852,000

0

0

0

0

0

0

0

0

0

0

0

0

2,730,000

9,945,000

975,000

1,755,000

1,365,000

2,340,000

10,725,000

585,000

25,350,000

7,215,000

3,510,000

4,095,000

0

0

0

0

0

0

0

0

0

0

0

0

630,000

2,295,000

225,000

405,000

315,000

540,000

2,475,000

135,000

5,850,000

1,665,000

810,000

945,000

0

0

0

0

0

0

0

0

0

0

0

0

280,000

1,020,000

100,000

180,000

140,000

240,000

1,100,000

60,000

2,730,000

9,945,000

975,000

1,755,000

1,365,000

2,340,000

630,000

2,295,000

225,000

405,000

315,000

540,000

10,725,000

2,475,000

585,000

2,600,000

25,350,000

740,000

360,000

420,000

7,215,000

3,510,000

4,095,000

135,000

5,850,000

1,665,000

810,000

945,000

280,000

1,020,000

100,000

180,000

140,000

240,000

1,100,000

60,000

2,600,000

740,000

360,000

420,000

0

0

0

0

0

0

0

0

0

0

0

0

3,640,000

3,640,000

13,260,000

13,260,000

1,300,000

2,340,000

1,820,000

3,120,000

1,300,000

2,340,000

1,820,000

3,120,000

14,300,000

14,300,000

780,000

780,000

33,800,000

33,800,000

9,620,000

4,680,000

5,460,000

9,620,000

4,680,000

5,460,000

TO TAL EUR-27

10 0

10 0

10 0 ,0 0 0 ,0 0 0

1,9 5 0 ,0 0 0 ,0 0 0

10 0 ,0 0 0 ,0 0 0

4 5 0 ,0 0 0 ,0 0 0

8 0 ,0 0 0 ,0 0 0

2 0 0 ,0 0 0 ,0 0 0

2 ,0 5 0 ,0 0 0 ,0 0 0

5 5 0 ,0 0 0 ,0 0 0

2 8 0 ,0 0 0 ,0 0 0

2 8 0 ,0 0 0 ,0 0 0

2 ,6 0 0 ,0 0 0 ,0 0 0

2 ,8 8 0 ,0 0 0 ,0 0 0

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