COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL AND THE COURT OF AUDITORS FINAL ACCOUNTS OF THE 8TH, 9TH AND 10TH EUROPEAN DEVELOPMENT FUNDS - FINANCIAL YEAR 2011
Date: 2012-07-25
Institutions: European Commission
Subjects: European Development Fund, closing of accounts, consolidated account, financial situation, implementation of the budget

EUROPEAN COMMISSION 

Brussels, 25.7.2012 
COM(2012) 435 final 

COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN 
PARLIAMENT, THE COUNCIL AND THE COURT OF AUDITORS 

FINAL ACCOUNTS OF THE 8TH, 9TH AND 10TH EUROPEAN DEVELOPMENT 
FUNDS - FINANCIAL YEAR 2011 

 
 
 
  
 
 
 
  
 
 
TABLE OF CONTENTS 

NOTE ACCOMPANYING THE ACCOUNTS ................................................................... 2 

IMPLEMENTING AND ACCOUNTING FOR THE EDF RESOURCES.................................... 3 

PART I – EDF ANNUAL ACCOUNTS: FUNDS MANAGED BY THE EUROPEAN COMMISSION. 8 

1. 

1.1 

1.2 

1.3 

1.4 

FINANCIAL STATEMENTS OF THE 8TH, 9TH AND 10TH EUROPEAN DEVELOPMENT 
FUNDS .................................................................................................... 9 

8TH, 9TH AND 10TH EDFs: AGGREGATED BALANCE SHEET, ECONOMIC 
OUTTURN ACCOUNT, CASH FLOW STATEMENT AND STATEMENT OF CHANGES IN 
NET ASSETS ............................................................................................ 9 

8TH EDF: BALANCE SHEET, ECONOMIC OUTTURN ACCOUNT AND STATEMENT OF 
CHANGES IN NET ASSETS........................................................................ 13 

9TH EDF: BALANCE SHEET, ECONOMIC OUTTURN ACCOUNT AND STATEMENT OF 
CHANGES IN NET ASSETS........................................................................ 16 

10TH EDF: BALANCE SHEET, ECONOMIC OUTTURN ACCOUNT AND STATEMENT 
OF CHANGES IN NET ASSETS ................................................................... 19 

1.5 

NOTES TO THE FINANCIAL STATEMENTS OF THE 8TH, 9TH AND 10TH EDFs ... 22 

2.  

REPORT ON FINANCIAL IMPLEMENTATION ................................................. 44 

2.1 

ALLOCATIONS ........................................................................................ 48 

2.2  

CONSOLIDATED ACCOUNTS ..................................................................... 51 

2.3. 

OTHER MANAGEMENT INFORMATION ........................................................ 56 

PART II – EDF ANNUAL ACCOUNTS: FINANCIAL STATEMENTS OF THE INVESTMENT 

FACILITY ............................................................................................... 57 

3. 

3.1 

3.2 

3.3 

3.4 

3.5 

FINANCIAL STATEMENTS OF THE INVESTMENT FACILITY ............................. 59 

STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 
31 DECEMBER 2011 ................................................................................ 59 

STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2011.................. 60 

STATEMENT OF CHANGES IN CONTRIBUTORS' RESOURCES.......................... 61 

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2011 ...... 62 

NOTES TO THE FINANCIAL STATEMENTS ................................................... 63 

ANNEX TO PART I – CHAPTER 2 (REPORT ON THE FINANCIAL IMPLEMENTATION): 

SITUATION BY COUNTRY AND BY INSTRUMENT .......................................... 93 

1 

 
 
 
 
CERTIFICATION OF THE ACCOUNTS 

The annual accounts of the 8th, 9th and 10th European Development Funds for the year 2011 have 
been  prepared  in  accordance  with  Title  VIII  of  the  Financial  Regulation  of  the  10th  European 
Development Fund and with the accounting principles, rules and methods set out in annex to the 
financial statements. 

I acknowledge my responsibility for the preparation and presentation of the annual accounts of the 
8th,  9th  and  10th  European  Development  Funds  in  accordance  with  Article  125  of  the  Financial 
Regulation of the 10th European Development Fund. 

I have obtained from the authorising officer and from the EIB, who guarantee its reliability, all the 
information  necessary  for  the  production  of  the  accounts  that  show  the  European  Development 
Funds' assets and liabilities and the budgetary implementation. 

I hereby certify that based on this information, and on such checks as I deemed necessary to sign 
off the accounts, I have a reasonable assurance that the accounts present a true and fair view of 
the financial position of the European Development Funds in all material aspects. 

[signed] 

Philippe Taverne 

Accounting Officer 

2 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IMPLEMENTING AND ACCOUNTING FOR THE EDF RESOURCES 

1. 

BACKGROUND 

The  European  Union  has  cooperative  development  relations  with  a  large  number  of  developing 
countries. The main purpose is to promote economic and social development with a particular focus 
on  reducing  and  alleviating  poverty  in  the  long-term,  by  providing  beneficiary  countries  with 
development  aid  and  technical  assistance.  To  achieve  this,  the  Union  draws  up,  jointly  with  the 
partner countries, cooperation strategies and mobilises the financial resources to implement them. 
These Union resources allocated to development come from three sources: 

–  The European Union budget 

–  The European Development Fund 

–  The European Investment Bank 

The  European  Development  Fund  (EDF)  is  the  main  instrument  for  providing  Union  aid  for 
development  cooperation  to  the  African,  Caribbean  and  Pacific  (ACP)  States  and  Overseas 
Countries and Territories (OCTs). The 1957 Treaty of Rome made provision for its creation with a 
view  to  granting  technical  and  financial  assistance,  initially  limited  to  African  countries  which  at 
that time were still colonised and with which some Member States had historical links. 

The EDF is not funded by the European Union's budget. It is funded by the Member States, subject 
to its own financial regulation and managed by a specific committee. The European Commission is 
responsible  for  the  financial  implementation  of  the  operations  carried  out  with  EDF  resources  and 
the European Investment Bank (EIB) manages the Investment Facility.  

During the period 2008-2013, the geographic aid granted to ACP States and OCTs will continue to 
be  mainly  funded  by  the  EDF.  Each  EDF  is  usually  concluded  for  a  period  of  around  five  years. 
Since the conclusion of the first partnership convention in 1964, the EDF programming cycles have 
generally followed the partnership agreement/convention cycles. Each EDF is governed by its own 
Financial Regulation which imposes the preparation of financial statements for each individual EDF. 
Accordingly, financial statements are prepared separately for each EDF in respect of the part that is 
managed  by  the  European  Commission.  These  financial  statements  are  also  presented  in  an 
aggregated way so as to provide a global view of the financial situation of the resources for which 
the European Commission is responsible. 

Within  the  framework  of  the  Cotonou  agreement,  the  Investment  Facility  was  established.  This 
Investment  Facility  is  managed  by  the  European  Investment  Bank  and  is  used  to  support  private 
sector  development  in  the  ACP  States  by  financing  essentially  –  but  not  exclusively  –  private 
investments.  The  Facility  is  designed  as  a  renewable  fund,  so  that  loan  repayments  can  be 
reinvested  in  other  operations,  thus  resulting  in  a  self-renewing  and  financially  independent 
Facility.  As  the  Investment  Facility  is  not  managed  by  the  European  Commission,  it  is  not 
consolidated in the first part of the annual accounts – the financial statements of the 8th, 9th and 
10th  EDFs  and  the  related  report  on  financial  implementation.  The  financial  statements  of  the 
Investment Facility are included as a separate part of the annual accounts (part 2) to provide a full 
picture of the development aid of the EDF. The 10th EDF covers the period from 2008 to 2013 and 
has an overall budget of EUR 22 682 million. Of this amount, EUR 21 966 million is allocated to the 
ACP  countries,  EUR  286  million  to  the  OCTs  and  EUR  430  million  to  the  Commission  as  support 
expenditure for programming and implementation of the EDF1. 

2. 

HOW IS THE EDF FUNDED? 

The European Council of 15-16 December 2005 adopted the financial perspectives for 2007-2013. 
In  this  context  it  was  decided  that  geographical  cooperation  with  the  ACP  States  would  not  be 
integrated into the European Union budget (budgetised), but would continue to be funded through 
the existing inter-governmental EDF for the period 2008-2013. 

1 

OJ L 247 of 09.09.2006 

3 

 
 
 
 
 
 
 
 
 
 
 
 
                                                 
The  European  Union  budget  is  annual  and  according  to  the  budgetary  principle  of  annuality, 
expenditure and revenue are planned and authorised for one year. Unlike the European Union, the 
EDF  is  a  fund  operating  on  the  basis  of  multiannuality.  Each  EDF  is  concluded  through  a 
partnership  agreement  between  Member  States  and  is  associated  with  an  overall  fund  to 
implement  development  cooperation  during  a  period  of  usually  five  years.  As  resources  are 
allocated on a multiannual basis, the allocated funds may be used over the period of the EDF. The 
lack  of  budget  annuality  is  highlighted  in  the  budgetary  reporting,  where  the  budgetary 
implementation of the EDFs is measured against the total funds. 

The  EDF  resources  are  “ad  hoc”  contributions  from  the  EU  Member  States.  Approximately  every 
five years, Member State representatives meet at intergovernmental level to decide on an overall 
amount that will be allocated to the Fund and to oversee its implementation. The Commission then 
manages the fund. Since Member States have their own development and aid policies in addition to 
the  Union  wide  policies,  the  Member  States  must  coordinate  their  policies  with  the  EU  to  ensure 
they  are  complementary.  Until  2010,  contributions  were  called  from  the  15  participating  Member 
States.  In  2011,  the  first  contributions  under  the  10th  EDF,  in  which  the  27  Member  States 
participate, were called. 

While  some  funds  of  the  10th  EDF  have  been  set  aside  for  unforeseen  needs,  most  are  being 
programmed in indicative multi-annual frameworks, mainly geographic but also thematic, currently 
set  for  the  years  2008-2013.  Country  strategy  papers,  regional  strategy  papers  and  intra-ACP 
strategy  papers  have  been  adopted  by  the  Commission  accordingly.  Their  implementation  is 
monitored  annually  and  the  strategies  are  reviewed  at  mid-term  (2010,  ongoing)  and  at  end-of-
term  (2012).  As  a  result  of  these  mid-term  or  end-of-term  reviews,  the  Commission  may,  on 
behalf  of  the  European  Union,  revise  the  strategies  and  resource  allocation  in  the  light  of  the 
current needs and the performance of the ACP states or regions concerned. 

In addition to the above mentioned contributions, it is also possible for Member States to enter into 
co-financing arrangements or to make voluntary financial contributions to the EDF.  

3. 

HOW ARE THE EDF RESOURCES MANAGED AND SPENT? 

3.1  Operational expenditure 

EDF  operational  expenditure  takes  different  forms,  depending  on  how  the  money  is  paid  out  and 
managed.  In  accordance  with  the  Financial  Regulation,  the  Commission  implements  the  EDF 
resources using the following methods: 

Decentralised management: these are the cases where the Commission delegates, more or less 
substantially  according  to  the  local  situation  of  the  beneficiary  concerned,  certain  tasks  for 
implementation of the budget to third countries. 

Centralised  management:  this  is  where  the  budget  is  implemented  either  directly  by  the 
Commission  services  or  indirectly  where  the  Commission  confers  tasks  of  implementation  of  the 
budget  to  bodies  of  European  Union  law  or  national  law,  such  as  the  European  Union  agencies  of 
public law or with public service missions. 

Joint  management  with  international  organisations:  under  this  method,  the  Commission 
entrusts certain implementation tasks to an international organisation. 

3.2 

The different financial actors  

The  responsibility  of  the  Authorising  Officer  by  delegation  covers  the  entire  management 
process,  from  determining  what  needs  to  be  done  to  achieve  the  policy  objectives  set  to  manage 
the activities launched from both an operational and budgetary standpoint, including signing legal 
commitments, monitoring performance, making payments and even recovering funds, if necessary. 

The Head of the Delegation of the European Union is the local liaison between the Commission 
and  the  national  or  regional  ACP/OCT  authorities  in  the  field.  He/she  works  in  close  collaboration 
with  the  national  or  Regional  Authorising  Officers  in  defining  the  implementing  strategy  and 
Sectoral policies, preparing, studying and reviewing EDF programmes and projects. 

The  National  Authorising  Officer  in  the  recipient  country  is  a  senior  official  appointed  by  the 
government  of  each  ACP  State/OCT.  He/she  represents  the  authorities  of  his/her  country  for  all 

4 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
activities  financed  by  the  Fund  and  managed  by  the  Commission  and  by  the  EIB.  In  most  cases, 
these  functions  are  exercised  by  a  member  of  the  government,  generally  the  State  Minister  of 
Planning  or  Finance.  The  National Authorising  Officer  carries  out  the  administrative,  technical  and 
financial duties of managing EDF programmes and projects. 

The Accounting Officer executes payment and recovery orders drawn up by Authorising Officers 
and  is  responsible  for  managing  the  treasury,  laying  down  accounting  rules  and  methods, 
validating  accounting  systems,  keeping  the  accounts  and  drawing  up  the  corresponding  annual 
accounts. Furthermore, the Accounting Officer is required to sign the accounts declaring that they 
provide a true and fair view of the financial position. 

3.3 

Implementing the EDF resources 

The  vast  majority  of  financial  resources  awarded  to  ACP  States  and  OCTs  through  the  EDF  are 
grants.  At  the  beginning  of  each  EDF,  the  European  Union  informs  the  ACP  States  and  the  OCTs 
about the level of grants which should be available to them over the period of the fund. Resources 
are  allocated  based  on  a  country’s  specific  needs,  taking into  account  the  recipient  country’s  own 
policies and development efforts. 

The beneficiary country develops a cooperation strategy while or after holding consultations with its 
development  partners  (donors).  The  cooperation  strategies  set  with  the  European  Union  normally 
include  both  the  country’s  own  medium-term  development  strategies,  an  analysis  of  the  political 
and  socio-economic  context,  plus  the  European  Union’s  own  assessment.  The  European 
Commission’s  staff  provide  technical  support  to  the  national  authorities  in  preparing  the 
cooperation strategy document.  

A  National  Indicative  Programme  (NIP)  is  then  drawn  up  to  implement  the  cooperation  strategy. 
The NIP targets the sectors and fields which will receive the aid, explains how the aid will fulfil its 
objectives,  gives  a  timetable  for  implementation,  and  specifies  how  other  actors  such  as 
International Organisations or NGOs will be involved in the programme (if relevant). This indicative 
global  programme  is  subject  to  an  annual,  mid-term  and  end-of-the-EDF-term  review  and 
improvements and changes are made when necessary during its operation period. 

3.4 

Committing to spend the EDF resources 

No EDF resources can be spent unless and until the Commission and the possible recipient of EDF 
money have entered into a written legal commitment. 
Before a legal commitment (for example a contract or grant agreement) can be entered into with a 
third party, there must be a budget line with sufficient funds authorising the activity in question. If 
this condition is met, the funds required must be reserved in the budget by means of a budgetary 
commitment made in the accounting system. This, however, has no effect on the general accounts 
(or general ledger) since no charge has yet been incurred. This is because the accounting system 
of the EDF comprises two separate but linked elements: 

(a) 

budget accounts, which provide a detailed record of budget implementation; and, 

(b) 

general accounts, used to prepare the balance sheet and economic outturn. 

The  budget  accounts  show  the  commitments  and  payments  made.  They  are  based  on  the  cash 
accounting principle, whereby an item of expense or income is only recorded in the accounts when 
cash  is  committed,  paid  out  or  received.  This  type  of  accounting  is  typical  of  the  public  sector 
whose focus has, historically, tended to be on the budget and its implementation.  

The general accounts (based on the accrual accounting principle) show all expenditure and revenue 
over the financial year (and thus the economic outturn) and establish the financial position of the 
EDF in the form of a balance sheet of assets and liabilities at 31 December of a given year. 

3.5  Making a payment 

No  payment  can  be  made  unless  a  budgetary  commitment  has  already  been  approved  by  the 
Authorising Officer. 

5 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pre-financing is a payment intended to provide the beneficiary with a cash advance, i.e. a float. It 
may  be  split  into  a  number  of  payments  over  a  period  defined  in  the  particular  pre-financing 
agreement. The float or advance is either used for the purpose for which it was provided during the 
period defined in the agreement or is repaid – if the beneficiary does not incur eligible expenditure 
he/she is obliged to return the pre-financing advance to the EDF. Thus pre-financing paid is not a 
definitive expense until the relevant contractual conditions are met and so is recorded as an asset 
on  the  balance  sheet  when  the  initial payment  is made.  The  amount  of  the  pre-financing  asset  is 
reduced  (wholly  or  partially)  by  the  acceptance  of  eligible  costs  (which  are  taken  as  expenses  in 
the economic outturn account) and amounts returned. 

At year-end, an assessment has to be made concerning eligible expenses incurred by beneficiaries 
of EDF funds but not yet reported. Following these cut-off calculations, estimated eligible amounts 
are  recorded  as  accrued  charges,  while  the  estimated  non-eligible  parts  remain  open  in  the 
“eligibility to be checked” accounts. These amounts are shown under current liabilities so as not to 
overestimate assets and liabilities.  

3.6  Recovering undue payments 

The  eligibility  of  expenditure  charged  to  the  EDF  is  verified  on  the  basis  of  the  supporting 
documents  stipulated  in  the  applicable  rules  or  in  the  conditions  of  each  grant.  With  the  aim  of 
optimising  the  relationship  between  the  costs  and  the  benefits  of  control  systems,  checks  on  the 
supporting documents for final claims tend to be more detailed than those on interim claims, and 
thus  may  detect  errors  in  interim  payments  which  are  corrected  by  adjustment  of  the  final 
payment.  Furthermore,  the  Commission  has  the  right  to  verify  the  probity  of  the  supporting 
documents by making checks on the claimant's premises, during the implementation of the action 
financed  and/or  afterwards  (ex-post).  Errors  found  during  the  implementation  period  may  be 
corrected  by  adjustment  of  subsequent  claims.  Errors  found  ex-post  will  be  the  subject  of  a 
recovery order. 

4. 

YEAR-END REPORTING 

4.1  Annual accounts 

It  is  the  Accounting  Officer's  responsibility  to  prepare  the  annual  accounts  and  ensure  that  they 
present a true and fair view of the financial position of the EDF. 
The annual accounts are presented as follows: 

Part I: Funds managed by the European Commission 

–  Financial statements of the 8th, 9th and 10th European Development Funds  

–  Report  on  financial  implementation  of  the  8th,  9th  and  10th  European  Development 

Funds  

Part II: Funds managed by the European Investment Bank 

–  Financial statements of the Investment Facility  

The  financial  statements  of  the  Investment  Facility  are  included  as  a  separate  part  of  the  annual 
accounts so as to provide a full picture of the development aid of the EDF.  

Following  audit  by  the  Court  of  Auditors,  the  annual  accounts  are  adopted  by  the  Commission  by 
31 July of the subsequent year and presented to the Council and Parliament for discharge. 

4.2  Annual Activity Report 

The  Authorising  Officer  is  required  to  prepare  an  Annual  Activity  Report  (AAR)  on  the  activities 
under  his/her  responsibility.  In  this  AAR,  the  Authorising  Officer  reports  on  policy  results  and  on 
the reasonable assurance he may have that the resources assigned to the activities described in his 
report  have  been  used  for  their  intended  purpose  and  in  accordance  with  the  principles  of  sound 
financial management, and that the control procedures put in place give the necessary guarantees 
concerning the legality and regularity of the underlying transactions. 

6 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5. 

AUDIT AND DISCHARGE 

5.1  Audit 

The  EDF  annual  accounts  and  resource  management  are  overseen  by  its  external  auditor,  the 
European  Court  of  Auditors,  which  draws  up  an  annual  report  for  the  Council  and  the  European 
Parliament. The Court's main task is to conduct an external, independent audit of the EDF annual 
accounts. As part of its activities, the Court of Auditors produces: 

(1) 

(2) 

an annual report, detailing its observations on the annual accounts and underlying 
transactions; 

an  opinion,  based  on  its  audits  and  given  in  the  annual  report  in  the  form  of  a 
statement  of  assurance,  on  (i)  the  reliability  of  the  accounts  and  (ii)  the  legality 
and regularity of the underlying transactions; 

(3) 

special  reports  giving  the  findings  of  audits  covering  specific  areas  of 
management. 

The  Court  of  Auditors  is  entitled  to  access  all  documents  required  during  the  course  of  its  audit. 
The Court audits all areas of EDF activities, right down to examining the legality and regularity of 
individual  transactions  and  payments.  It  also  audits  the  annual  accounts  themselves,  reviewing 
individual balance sheet and economic outturn account items, as well as the overall presentation of 
the financial statements. Thus the Court can offer its opinion not only on the figures presented, but 
also on the system and controls in place. 

5.2  Discharge 

The final control is the discharge of the financial implementation of the EDF resources for a given 
financial  year.  The  European  Parliament  is  the  discharge  authority  of  the  EDF.  This  means  that 
following the audit and finalisation of the annual accounts it falls to the Council to recommend and 
then  to  the  Parliament  to  decide  whether  to  grant  discharge  to  the  Commission  for  the  financial 
implementation  of  the  EDF  resources  for  the  preceding  financial  year.  This  decision is  based  on  a 
review  of  the  accounts  and  the  annual  report  of  the  Court  of  Auditors  (which  includes  an  official 
statement  of  assurance)  and  replies  of  the  Commission,  and  also  following  questions  and  further 
information requests to the Commission. 

The discharge represents the political aspect of the external control of financial implementation and 
is the decision by which the European Parliament, acting on a Council recommendation, "releases" 
the Commission from its responsibility for management of the financial implementation of a given 
financial  year.  This  discharge  procedure  may  produce  one  of  two  outcomes:  the  granting  or 
postponement  of  the  discharge.  When  granting  discharge  the  Parliament  may  highlight 
observations it considers important, often recommending actions that the Commission should take 
concerning these matters. The Commission sets out the measures taken in a follow-up report and 
an action plan which it sends to both the Parliament and the Council. 

7 

 
 
 
 
 
 
 
 
 
PART  I  –  EDF  ANNUAL  ACCOUNTS:  FUNDS  MANAGED  BY  THE  EUROPEAN 

COMMISSION2

2 

All  figures  are  rounded  into  millions  of  euros.  It  should  be  noted  that  due  to  the  rounding  of  figures, 
some  financial  data  in  the  tables  may  not  add  up.  Amounts  shown  as  0  represent  figures  of  less  than 
EUR 500 000. Amounts that equal to zero are shown as a dash (-). 

8 

 
 
 
 
  
                                                 
1. 

FINANCIAL  STATEMENTS  OF  THE  8TH,  9TH  AND  10TH  EUROPEAN 
DEVELOPMENT FUNDS 

1.1 

8TH,  9TH  AND  10TH  EDFs:  AGGREGATED  BALANCE  SHEET,  ECONOMIC 
OUTTURN  ACCOUNT,  CASH  FLOW  STATEMENT  AND  STATEMENT  OF 
CHANGES IN NET ASSETS 

AGGREGATED BALANCE SHEET of the 8th, 9th and 10th EDFs 

NON-CURRENT ASSETS 
Long-term pre-financing 

CURRENT ASSETS 
Short-term pre-financing 
Short-term receivables 
Cash and cash equivalents 

TOTAL ASSETS 

CURRENT LIABILITIES 
Short-term payables 

Note 

31.12.2011 

31.12.2010 

EUR millions 

2.1

2.2
2.3
2.5

380 

353

1 175 
111 
1 224 

1 096
247
808

2 891 

2 503

2.6

(1 033) 

(1 045)

TOTAL LIABILITIES 

(1 033) 

(1 045)

NET ASSETS 

1 858 

1 458

FUNDS & RESERVES 
Called fund capital 
Other reserves 
Economic  outturn  carried  forward  from  previous 
years 
Economic outturn of the year 
NET ASSETS 

2.7
2.8

26 979 
2 252 
(24 674) 

(2 700) 
1 858 

23 879
2 252
(21 909)

(2 765)
1 458 

9 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
AGGREGATED  ECONOMIC  OUTTURN  ACCOUNT  of  the  8th,  9th  and  10th  EDFs 

OPERATING REVENUE 

OPERATING EXPENSES 
Operating expenses  
Administrative expenses 

SURPLUS (DEFICIT) FROM OPERATING ACTIVITIES 

Financial revenue 
SURPLUS (DEFICIT) FROM FINANCIAL ACTIVITIES 

EUR millions 

Note

2011 

2010 

3.1

3.2
3.3

3.4

99 

140

(2 702) 
(75) 

(2 914)
(86)

(2 679) 

(2 860)

(20) 
(21) 

95
95

ECONOMIC OUTTURN OF THE YEAR 

(2 700) 

(2 765)

10 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
AGGREGATED CASH FLOW STATEMENT of the 8th, 9th and 10th EDFs 

EUR millions 

Note 

2011 

2010 

Economic outturn of the year 

(2 700) 

(2 765)

OPERATING ACTIVITIES 
Ordinary contributions from Member States 
Co-financing contributions from Member States 
(Reversal of) impairment losses on receivables 

(Increase)/decrease in long-term pre-financing 
(Increase)/decrease in short-term pre-financing 
(Increase)/decrease in short-term receivables 
Increase/(decrease) in short-term payables 

NET CASH FLOW 

NET  INCREASE/(DECREASE)  IN  CASH  AND  CASH 
EQUIVALENTS  
Cash and cash equivalents at the beginning of the year 
Cash and cash equivalents at the end of the year 

4.2

3 238 
7 
6 

(28) 
(79) 
14 
(42) 

417 

417 

2.5
2.5

808 
1 224 

3 420
65
2

(157)
(296)
(62)
78

285

285

523
808

11 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
AGGREGATED STATEMENT OF CHANGES IN NET ASSETS of the 8th, 9th and 10th EDFs 

BALANCE AS AT 31 DECEMBER 2009 

45 761 

25 381 

20 381 

(21 909) 

2 252 

Fund Capital 
(a) 

Uncalled funds 
(b) 

Called fund 
capital (c)=(a)-
(b) 

Cumulative 
reserves (d) 

Other reserves 
(e) 

EUR millions 

Total Net 
Assets 
(c)+(d)+(e) 
724 

Capital increase – ordinary contributions 
Reclassification of co-financing contributions3 
Economic outturn of the year 
BALANCE AS AT 31 DECEMBER 2010 

Capital increase – ordinary contributions 
Economic outturn of the year 
BALANCE AS AT 31 DECEMBER 2011 

-
(70)
-
45 691

-
-
45 691

(3 500)
(69)
-
21 812

(3 100)
-
18 712

3 500
(2)
-
23 879

3 100
-
26 979

-
-
(2 765)
(24 674)

-
(2 700)
(27 374)

-
-
-
2 252

-
-
2 252

3 500 
(2) 
(2 765) 
1 458 

3 100 
(2 700) 
1 858 

3 

In  2010,  the  co-financing  contributions  were  reclassified  and  presented  as  payables  to  Member  States.  The  co-financing  contributions  fulfil  the  criteria  of  revenues  from 
non-exchange transactions under condition and should be presented as such. The amount reclassified represents the cumulative co-financing contributions from the years 
2008 and 2009. 

12 

 
 
  
 
 
 
 
                                                 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1.2 

8TH  EDF:  BALANCE  SHEET,  ECONOMIC  OUTTURN  ACCOUNT  AND 
STATEMENT OF CHANGES IN NET ASSETS 

BALANCE SHEET of the 8th EDF   

Note 

31.12.2011 

31.12.2010 

EUR millions 

CURRENT ASSETS 
Short-term pre-financing 
Short-term receivables 
Liaison accounts 

TOTAL ASSETS 

CURRENT LIABILITIES 
Short-term payables 

TOTAL LIABILITIES 

NET ASSETS 

FUNDS & RESERVES 
Called fund capital 
Other reserves 
Economic  outturn  carried  forward  from  previous 
years 
Economic outturn of the year 
NET ASSETS 

2.2
2.3
2.4

2.6

2.7
2.8

70 
4 
387 

461 

(29) 

(29) 

432 

12 840 
(2 276) 
(10 042) 

(90) 
432 

100
9
497

605

(45)

(45)

560

12 840
(2 237)
(9 985)

(58)
560

13 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ECONOMIC OUTTURN ACCOUNT of the 8th EDF 

OPERATING REVENUE 

OPERATING EXPENSES 

SURPLUS (DEFICIT) FROM OPERATING ACTIVITIES 

Financial revenue 
SURPLUS (DEFICIT) FROM FINANCIAL ACTIVITIES 

EUR millions 

Note

2011 

2010 

3.1

3.2

3.4

40 

54 

(128) 

(116) 

(88) 

(61) 

(1) 
(2) 

4 
4 

ECONOMIC OUTTURN OF THE YEAR 

(90) 

(58) 

14 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
STATEMENT OF CHANGES IN NET ASSETS of the 8th EDF 

Fund Capital 
(a) 

Uncalled 
funds (b) 

Called fund 
capital (c)=(a)-
(b) 

Cumulative 
reserves (d) 

Other reserves 
(e) 

12 840 

(9 985) 

(2 153) 

EUR millions 
Total Net 
Assets 
(c)+(d)+(e) 
703 

- 
- 
- 
12 840 

- 
- 
- 
12 840 

- 
- 
(58) 
(10 042) 

- 
- 
(90) 
(10 132) 

- 

(85)   

- 
(2 237) 

- 
(38) 
- 
(2 276) 

- 
(85) 
(58) 
560 

- 
(38) 
(90) 
432 

BALANCE AS AT 31 DECEMBER 2009 

12 840 

Capital increase – ordinary contributions 
Transfers to the 10th EDF 
Economic outturn of the year 
BALANCE AS AT 31 DECEMBER 2010 

Capital increase – ordinary contributions 
Transfers to the 10th EDF 
Economic outturn of the year 
BALANCE AS AT 31 DECEMBER 2011 

- 
- 
- 
12 840 

- 
- 
- 
12 840 

- 

- 
- 
- 
- 

- 
- 
- 
- 

15 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1.3 

9TH  EDF:  BALANCE  SHEET,  ECONOMIC  OUTTURN  ACCOUNT  AND 
STATEMENT OF CHANGES IN NET ASSETS 

BALANCE SHEET of the 9th EDF 

NON-CURRENT ASSETS 
Long-term pre-financing 

CURRENT ASSETS 
Short-term pre-financing 
Short-term receivables 
Liaison accounts 
Cash and cash equivalents 

Note 

31.12.2011 

31.12.2010 

EUR millions 

2.1

2.2
2.3
2.4
2.5

191 

158 

569 
87 
2 557 
6 

742 
233 
2 516 
7 

TOTAL ASSETS 

3 410 

3 655 

CURRENT LIABILITIES 
Short-term payables 

2.6

(315) 

(392) 

TOTAL LIABILITIES 

(315) 

(392) 

NET ASSETS 

 3 096 

3 263 

FUNDS & RESERVES 
Called fund capital 
Other reserves 
Economic  outturn  carried  forward  from  previous 
years 
Economic outturn of the year 
NET ASSETS 

2.7
2.8

11 699 
4 227 
(11 932) 

(898) 
3 096 

11 039 
4 157 
(10 854) 

(1 078) 
3 263 

16 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ECONOMIC OUTTURN ACCOUNT of the 9th EDF 

EUR millions 

Note

2011 

2010 

OPERATING REVENUE 

3.1

49 

82 

OPERATING EXPENSES 
Operating expenses  
Administrative expenses 

3.2
3.3

(924) 
(3) 

(1 230) 
(6) 

SURPLUS (DEFICIT) FROM OPERATING ACTIVITIES 

(879) 

(1 155) 

Financial revenue 
SURPLUS (DEFICIT) FROM FINANCIAL ACTIVITIES 

3.4

(19) 
(19) 

77 
77 

ECONOMIC OUTTURN OF THE YEAR 

(898) 

(1 078) 

17 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
STATEMENT OF CHANGES IN NET ASSETS of the 9th EDF 

Fund Capital 
(a) 

Uncalled 
funds (b) 

BALANCE AS AT 31 DECEMBER 2009 

11 699 

4 160 

Capital increase – ordinary contributions 
Transfers to the 10th EDF 
Economic outturn of the year 
BALANCE AS AT 31 DECEMBER 2010 

Capital increase – ordinary contributions 
Transfers to and from the 10th EDF 
Economic outturn of the year 
BALANCE AS AT 31 DECEMBER 2011 

- 
- 
- 
11 699 

- 
- 
- 
11 699 

(3 500) 
- 
- 
660 

(660) 
- 
- 
0 

Called fund 
capital 
(c)=(a)-(b) 
7 539 

3 500 
- 
- 
11 039 

660 
- 
- 
11 699 

Cumulative 
reserves (d) 

Other 
reserves 
(e) 

EUR 
millions 
Total Net 
Assets 
(c)+(d)+(e) 

(10 854) 

4 308 

993 

- 
- 
(1 078) 
(11 932) 

- 
- 
(898) 
(12 830) 

- 
(151) 
- 
  4 157 

- 
70 
- 
4 227 

3 500 
(151) 
(1 078) 
3 263 

660 
70 
(898) 
3 096 

18 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1.4 

10TH  EDF:  BALANCE  SHEET,  ECONOMIC  OUTTURN  ACCOUNT  AND 
STATEMENT OF CHANGES IN NET ASSETS 

BALANCE SHEET of the 10th EDF 

Note

31.12.2011 

31.12.2010 

EUR millions 

NON-CURRENT ASSETS 
Long-term pre-financing 

CURRENT ASSETS 
Short-term pre-financing 
Short-term receivables 
Cash and cash equivalents 

TOTAL ASSETS 

CURRENT LIABILITIES 
Short-term payables 
Liaison accounts 

TOTAL LIABILITIES 

NET ASSETS 

FUNDS & RESERVES 
Called fund capital 
Other reserves 
Economic  outturn  carried  forward  from  previous 
years 
Economic outturn of the year 
NET ASSETS4 

2.1

2.2
2.3
2.5

2.6
2.4

2.7
2.8

189 

195 

536 
20 
1 218 

255 
5 
801 

1 963 

1 255 

(689) 
(2 944) 

(608) 
(3 013) 

(3 633) 

(3 621) 

(1 670) 

(2 366) 

2 440 
301 
(2 699) 

(1 712) 
(1 670) 

- 
333 
(1 070) 

(1 629) 
(2 366) 

4 

The net assets of the 10th EDF are negative due to the fact that contributions have been called for the 
first time only in 2011. 

19 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                 
ECONOMIC OUTTURN ACCOUNT of the 10th EDF 

EUR millions 

Note

2011 

2010 

OPERATING REVENUE 

3.1

10 

4 

OPERATING EXPENSES 
Operating expenses  
Administrative expenses 

3.2
3.3

(1 650) 
(72) 

(1 567) 
(80) 

SURPLUS (DEFICIT) FROM OPERATING ACTIVITIES 

(1 712) 

(1 643) 

Financial revenue 
SURPLUS (DEFICIT) FROM FINANCIAL ACTIVITIES 

3.4

0 
(1) 

14 
14 

ECONOMIC OUTTURN OF THE YEAR 

(1 712) 

(1 629) 

20 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
STATEMENT OF CHANGES IN NET ASSETS of the 10th EDF 

Fund 
Capital (a) 

Uncalled 
funds (b) 

Called fund 
capital 
(c)=(a)-
(b) 

Cumulative 
reserves 
(d) 

Other 
reserves 
(e) 

BALANCE AS AT 31 DECEMBER 2009 

21 222 

21 221 

2 

(1 070) 

of 

Capital increase – ordinary contributions 
Reclassification 
co-financing 
contributions5 
Transfers from the 8th and the 9th EDF 
Economic outturn of the year 
BALANCE AS AT 31 DECEMBER 2010 

Capital increase – ordinary contributions 
Transfers  from/to  the  8th  and  the  9th 
EDF 
 Economic outturn of the year 
BALANCE AS AT 31 DECEMBER 2011 

- 
(70) 

- 
- 
21 152 

- 
- 

- 
21 152

- 
(69) 

- 
- 
21 152 

(2 440) 
- 

- 
18 712

- 
(2) 

- 
- 
- 

2 440 
- 

- 
2 440 

- 
- 

- 
(1 629) 
(2 699) 

- 
- 

(1 712) 
(4 411) 

97 

- 
- 

236 
- 
333 

- 
(32) 

- 
301

EUR 
millions 
Total Net 
Assets 
(c)+(d)+(e) 

(971) 

- 
(2) 

236 
(1 629) 
(2 366) 

2 440 
(32) 

(1 712) 
(1 670) 

5 

In 2010, the co-financing contributions were reclassified and presented as payables to Member States. The co-financing contributions fulfil the criteria of 
revenues  from  non-exchange  transactions  under  condition  and  should  be  presented  as  such.  The  amount  reclassified  represents  the  cumulative  co-
financing contributions from the years 2008 and 2009. 

21 

 
 
 
 
 
                                                 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1.5 

NOTES  TO  THE  FINANCIAL  STATEMENTS  OF  THE  8TH,  9TH  AND  10TH 
EDFs  

1. 

SIGNIFICANT ACCOUNTING POLICIES 

1.1.  LEGAL PROVISIONS AND THE FINANCIAL REGULATION 

The financial statements are drawn up in accordance with the Financial Regulation applicable to the 
10th  EDF.  In  accordance  with  the  provisions  of  Article  121  of  this  regulation,  the  financial 
statements are prepared respecting the principles of accrual based accounting. 

These financial statements have been drafted in conformity with the accounting rules and methods 
of the EDF, themselves drawn up on the basis of International Public Sector Accounting Standards 
(IPSAS) or by default, International Financial Reporting Standards (IFRS) as respectively issued by 
the  International  Public  Sector  Accounting  Standard  Board  (IPSASB)  and  the  International 
Accounting Standard Board (IASB). The rules on valuation and accounting methods adopted by the 
Accounting  Officer  of  the  EDF  have  been  applied  in  respect  of  the  part  of  the  EDF  resources  for 
which the European Commission is responsible for financial management. 

The EDF Accounting Officer must submit the provisional accounts to the Court of Auditors for audit 
by 31 March of the following year. The Court of Auditors shall in turn make its observations on the 
accounts  known  to  the  Commission  by  15  June  (Article  125).  On  the  basis  of  these  observations, 
the  Commission  approves  the  final  accounts  by  31  July  and  sends  them  to  the  European 
Parliament,  the  Council  and  the  Court  of Auditors.  The  accounts  are  then  published in  the  Official 
Journal by 15 November, together with the statement of assurance given by the Court of Auditors 
in respect of the part of the EDF resources for which the Commission is responsible for the financial 
management. 

1.2.  ACCOUNTING PRINCIPLES 

The  objective  of  the  financial  statements  is  to  provide  information  about  the  financial  position, 
performance and cash flows of an entity that is useful to a wide range of users. For a public sector 
entity  such  as  the  EDF,  the  objectives  are  more  specifically  to  provide  information  useful  for 
decision making, and to demonstrate the accountability of the entity for the resources entrusted to 
it. 

If  they  are  to  present  a  true  and  fair  view,  financial  statements  must  not  only  supply  relevant 
information  to  describe  the  nature  and  range  of  an  organisation’s  activities,  explain  how  it  is 
financed  and  supply  definitive  information  on  its  operations,  but  do  so  in  a  clear  and 
comprehensible manner which allows comparisons between financial years. It is with these goals in 
mind that the present document has been drawn up. 

The  accounting  system  of  the  EDF  comprises  general  accounts  and  budget  accounts.  The  budget 
accounts give a detailed picture of the implementation of the budget. They are based on the cash 
accounting principle. The general accounts allow for the preparation of the financial statements as 
they show all expenses and income for the financial year based on accrual accounting rules and are 
designed to establish the financial position in the form of a balance sheet at 31 December. 

Article 120 of the 10th EDF Financial Regulation sets out the accounting principles to be applied in 
drawing up the financial statements: 

–  going concern basis; 

–  prudence; 

–  consistent accounting methods; 

–  comparability of information; 

–  materiality; 

–  no netting; 

22 

 
 
 
 
 
 
 
 
 
 
–  reality over appearance; 

–  accrual-based accounting. 

1.3.  BASIS OF PREPARATION 

1.3.1.  Functional and reporting currency 

The  financial  statements  are  presented  in  millions  of  euros,  the  euro  being  the  functional  and 
reporting currency of the EDF. 

1.3.2.  Currency and basis for conversion 

Foreign currency transactions are translated into euros using the exchange rates prevailing on the 
dates  of  the  transactions.  Foreign  exchange  gains  and  losses  resulting  from  the  settlement  of 
foreign  currency  transactions  and  from  the  translation  at  year-end  exchange  rates  of  monetary 
assets  and  liabilities  denominated  in  foreign  currencies  are  recognised  in  the  economic  outturn 
account. 
Year-end  balances  of  monetary  assets  and  liabilities  denominated  in  foreign  currencies  are 
converted into euros on the basis of the below exchange rates applying on 31 December: 

Currency 

BGN 
CZK 
DKK 
EEK 
GBP 
HUF 
LVL 

31.12.2011 
1.9558 
25.7870 
7.4342 
N/A 
0.8353 
314.5800 
0.6995 

31.12.2010 
1.9558 
25.0610 
7.4535 
15.6466 
0.8607 
277.9500 
0.7094 

Currency 

LTL 
PLN 
RON 
SEK 
CHF 
JPY 
USD 

31.12.2011 
3.4528 
4.4580 
4.3233 
8.9120 
1.2156 
100.2000 
1.2939 

31.12.2010 
3.4528 
3.9750 
4.2620 
8.9655 
1.2504 
108.6500 
1.3362 

1.3.3.  Use of estimates 

In  accordance  with  IPSAS  and  generally  accepted  accounting  principles,  the  financial  statements 
necessarily  include  amounts  based  on  estimates  and  assumptions  by  management  based  on  the 
most  reliable  information  available.  Significant  estimates  include,  but  are  not  limited  to,  amounts 
for provisions, impairment losses on accounts receivable and accrued charges. Actual results could 
differ from those estimates. Changes in estimates are reflected in the period in which they become 
known. 

1.4.  BALANCE SHEET 

1.4.1  Pre-financing amounts 

Pre-financing is a payment intended to provide the beneficiary with a cash advance, i.e. a float. It 
may  be  split  into  a  number  of  payments  over  a  period  defined  in  the  particular  pre-financing 
agreement. The float or advance is repaid or used for the purpose for which it was provided during 
the period defined in the agreement. If the beneficiary does not incur eligible expenditures, he/she 
has  to  return  the  pre-financing  advance  to  the  EDF.  The  amount  of  the  pre-financing  is  reduced 
(wholly or partially) by the acceptance of eligible costs and amounts returned. 

At  year-end,  outstanding  pre-financing  amounts  are  valued  at  the  original  amount(s)  paid  less: 
amounts  returned,  eligible  amounts  cleared,  estimated  eligible  amounts  not  yet  cleared  at  year-
end and value reductions. 

Interest  on  pre-financing  is  recognised  as  it  is  earned  in  accordance  with  the  provisions  of  the 
relevant  agreement.  An  estimate  of  the  accrued  interest  revenue,  based  on  the  most  reliable 
information, is made at year-end. 

23 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1.4.2  Receivables 

Receivables  are  carried  at  original  amount  less  write-down  for  impairment.  A  write-down  for 
impairment of receivables is established when there is objective evidence that the full amount due 
cannot be collected according to the original terms of the receivable. The amount of the write-down 
is  the  difference  between  the  asset’s  carrying  amount  and  the  recoverable  amount,  being  the 
present  value  of  expected  future  cash  flows,  discounted  at  the  market  rate  of  interest  for  similar 
borrowers.  Also  recognised  is  a  general  write-down  for  outstanding  recovery  orders  not  already 
subject to a specific write-down. This general write-down is based on the historical loss rates. The 
amount of the write-down is recognised in the economic outturn account.  

1.4.3  Cash and cash equivalents 

Cash  and  cash  equivalents  are  financial  instruments  and  are  defined  as  short-term  assets.  They 
include  cash  at  hand,  deposits  held  at  call  with  banks  and  other  short-term  highly  liquid 
investments with original maturities of three months or less. 

1.4.4  Payables 

A  significant  amount  of  the  payables  of  the  EDF  are  not  related  to  the  purchase  of  goods  or 
services – instead they are unpaid cost claims from beneficiaries of grants or other funding. They 
are  recorded  as  payables  for  the  requested  amount  when  the  cost  claim  is  received  and,  after 
verification, accepted as  eligible by the relevant financial agents. At this stage they are valued at 
the accepted and eligible amount. 

Payables  arising  from  the  purchase  of  goods  and  services  are  recognised  at  invoice  reception  for 
the original amount and corresponding expenses are entered in the accounts when the supplies or 
services are delivered and accepted. 

1.4.5  Provisions 

Provisions are recognised when the EDF has a present legal or constructive obligation towards third 
parties  as  a  result  of  past  events;  it  is  more  likely  than  not  that  an  outflow  of  resources  will  be 
required  to  settle  the  obligation,  and  the  amount  can  be  reliably  estimated.  The  amount  of  the 
provision  is  the  best  estimate  of  the  expenditures  expected  to  be  required  to  settle  the  present 
obligation at the reporting date. 

1.4.6  Accrued and deferred income and charges 

A critical element in accrual accounting is the exercise of ensuring that transactions are recorded in 
the  accounting  year  to  which  they  relate.  This  exercise  is  referred  to  as  the  cut-off  exercise.  In 
particular, an assessment has to be made concerning eligible expenses incurred by beneficiaries of 
EDF funds but not yet reported to the EDF (accrued charges). Conversely, some payments made in 
the  current  year  relate  to  subsequent  periods  (deferred  charges)  and  these  have  to  be  identified 
and included in the subsequent period(s). 

According  to  the  EDF  accounting  rules,  transactions  and  events  are  recognised  in  the  financial 
statements  in  the  period  to  which  they  relate.  At  the  end  of  the  accounting  period,  accrued 
expenses  are  recognised  based  on  an  estimated  amount  of  the  transfer  obligation  of  the  period. 
The  calculation  of  the  accrued  expenses  is  made  in  accordance  with  detailed  operational  and 
practical guidelines issued by the Commission which aim at ensuring that the financial statements 
reflect a true and fair view. 

Revenue is also accounted for in the period to which it relates. At year-end, if an invoice is not yet 
issued  but  the  service  has  been  rendered,  the  supplies  have  been  delivered  by  the  EDF  or  a 
contractual agreement exists (i.e. by reference to a treaty), an accrued income will be recognised 
in the financial statements. 

In addition, at year-end, if an invoice is issued but the services have not yet been rendered or the 
goods  supplied  have  not  yet  been  delivered,  the  revenue  will  be  deferred  and  recognised  in  the 
subsequent accounting period. 

24 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
1.5.  ECONOMIC OUTTURN ACCOUNT 

1.5.1  Revenue 

There  is  no  revenue  budgeted  for  the  European  Development  Fund.  The  ordinary  contributions 
from  Member  States  are  treated  as  fund  capital.  Revenue  comprises  recovery  of  expenses  and 
interest income.  

Recovery of expenses 

For operations giving rise to reimbursement of expenditures previously paid by the EDF to a final 
beneficiary  or  third  country,  recovery  orders  and  deductions  from  subsequent  payments  are 
established and accounted for as follows: 

–  Recovery  of  expenses:  the  recovery  order  issued  results  in  a  receivable  with  the 
corresponding entry being income in the economic outturn account for that year; or, 

–  Recovery of pre-financing amounts: in this case the amount is included under the pre-

financing heading on the balance sheet. 

Interest income 

Interest income is recognised in the economic outturn account using the effective interest method. 
The  interest  income  comprises  interest  received  or  receivable  on  cash  balances  and  demandable 
deposits  held  with  commercial  banks  and  on  late  payment  of  entitlements  to  the  EDF.  Interest 
income is recognised as it accrues. 

1.5.2  Expenditure 

Exchange  expenses  arising  from  the  purchase  of  goods  and  services  are  recognised  when  the 
supplies are delivered and accepted. They are valued at original invoice cost. 

Non-exchange expenses account for the majority of the EDF's expenditure. They relate to transfers 
to  beneficiaries  and  can  be  of  three  types:  entitlements,  transfers  under  agreement  and 
discretionary grants, or contributions and donations. 

Transfers  are  recognised  as  expenses  in  the  period  during  which  the  events  giving  rise  to  the 
transfer  occurred,  as  long  as  the  nature  of  the  transfer  is  allowed  by  regulation  (Financial 
Regulation or other) or a  contract has  been signed  authorising the transfer;  any eligibility criteria 
have been met by the beneficiary; and a reasonable estimate of the amount can be made. 

When  any  request  for  payment  or  cost  claim  is  received  and  meets  the  recognition  criteria,  it  is 
recognised as an expense for the eligible amount. At year-end, incurred eligible expenses already 
due to the beneficiaries but not yet reported are estimated and recorded as accrued expenses. 

Interest expense 

Interest  expense  is  recognised  in  the  economic  outturn  account  using  the  effective  interest 
method. The interest expense comprises interest paid or payable and is recognised as it accrues. 

1.6.  CONTINGENT ASSETS AND LIABILITIES  

1.6.1  Contingent assets 

A  contingent  asset  is  a  possible  asset  that  arises  from  past  events  and  whose  existence  will  be 
confirmed  only  by  the  occurrence  or  non-occurrence  of  one  or  more  uncertain  future  events  not 
wholly  within  the  control  of  the  EDF.  A  contingent  asset  is  disclosed  when  an  inflow  of  economic 
benefits or service potential is probable. 

Contingent  assets  are  assessed  at  each  balance  sheet  date  to  ensure  that  developments  are 
appropriately reflected in the financial statements. If it has become virtually certain that an inflow 
of economic benefits or service potential will arise and the asset’s value can be measured reliably, 

25 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
the asset and the related revenue are recognised in the financial statements of the period in which 
the change occurs. 

Guarantees are possible assets that arise from past events and whose existence will be confirmed 
by the occurrence or non-occurrence of the object of the guarantee. Guarantees can thus qualify as 
contingent  assets.  A  guarantee  is  settled  when  the object  of  the  guarantee  no  longer  exists.  It  is 
crystallised when the conditions are fulfilled for calling for a payment from the guarantor. 

1.6.2  Contingent liabilities 

A contingent liability is a possible obligation that arises from past events and whose existence will 
be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not 
wholly within the control of the EDF; or a present obligation that arises from past events but is not 
recognised  because:  it  is  not  probable  that  an  outflow  of  resources  embodying  economic  benefits 
or service potential will be required to settle the obligation or, in the rare circumstances where the 
amount  of  the  obligation  cannot  be  measured  with  sufficient  reliability.  A  contingent  liability  is 
disclosed unless the possibility of an outflow of resources embodying economic benefits or service 
potential is remote. 

Contingent liabilities are assessed at each balance sheet date to determine whether an outflow of 
resources  embodying  economic  benefits  or  service  potential  has  become  probable.  If  it  becomes 
probable  that  an  outflow  of  resources  embodying  economic  benefits  or  service  potential  will  be 
required  for  an  item  dealt  with  as  contingent  liability,  a  provision  is  recognised  in  the  financial 
statements of the period in which the change of probability occurs. 

26 

 
 
 
 
 
2. 

NOTES TO THE BALANCE SHEET 

NON CURRENT ASSETS 

2.1 

LONG-TERM PRE-FINANCING 

Long-term pre-financing  
TOTAL 

8th EDF 
-
-

9th EDF 
191
191

10th EDF 
189
189

EUR millions

TOTAL 
31.12.2011 
380 
380 

TOTAL 
31.12.2010
353
353

Many  contracts  provide  for  payments  of  advances  before  the  commencement  of  works,  deliveries 
of  supplies  or  the  provision  of  services.  Sometimes  the  payment  schedules  of  contracts  foresee 
payments  on  the  basis  of  progress  reports.  Pre-financing  is  normally  paid  in  the  currency  of  the 
country or territory where the project is executed. 

Pre-financing is presented net of open recovery orders related to advances and estimated amounts 
not  yet  cleared  at  year-end.  The  timing  of  the  recoverability  or  utilisation  of  the  pre-financing 
governs whether it is disclosed as a short-term or a long-term pre-financing asset. The utilisation is 
defined  by  the  project's  underlying  agreement.  Any  repayments  or  utilisation  due  within  twelve 
months  of  the  reporting  date  is  disclosed  as  short-term  pre-financing  and  therefore  as  current 
assets.  As  many  of  the  EDF  projects  are  long-term  in  nature,  it  is  necessary  that  the  related 
advances  are  available  for  more  than  one  year.  Thus  these  pre-financing  amounts  are  shown  as 
long-term assets. 

The  increase  in  long-term  pre-financing  of  EUR  28  million  compared  to  31.12.2010  is  mainly 
explained by an increase in long-term pre-financing related to Intra ACP Projects (EUR 49 million)  
and  to  Administrative  Expenditure  (EUR  14  million),  offset  by  a  decrease  in  the  long-term  pre-
financing related to Sectoral Policy (EUR 17 million) and to Programmable Aid (EUR 15 million).  

CURRENT ASSETS 

2.2 

SHORT-TERM PRE-FINANCING 

Short-term pre-financing 
(gross) 
Less estimated clearing of 
pre-financing 
TOTAL 

8th EDF 

9th EDF 

10th EDF 

EUR millions

TOTAL 
31.12.2011 

TOTAL 
31.12.2010

148

1 659

1 608

3 415 

3 115

(78)
70

(1 090)
569

(1 072)
536

(2 240) 
1 175 

(2 019)
1 096

The increase in net short-term pre-financing of EUR 79 million is mainly due to an increase in net 
short-term pre-financing related to Administrative Expenditure (EUR 77 million), Programmable Aid 
(EUR 29 million), Institutional support (EUR 44 million) and Sectoral Policy (EUR 25 million). This 
increase  was  offset  by  a  decrease  in  Intra  ACP  Projects  (EUR  68  million),  Other  aid  programmes 
related to former EDFs (EUR 20 million), and Emergency aid (EUR 7 million). 

2.2.1 Guarantees received in respect of pre-financing 

Guarantees  are  held  to  secure  pre-financing  and  released  when  the  final  claim  under  a  project  is 
paid. A guarantee has two different values referred to as the “nominal” and the “on-going” values. 
For the “nominal” value, the generating event is linked to the existence of the guarantee. For the 
“on-going”  value,  the  guarantee’s  generating  event  is  the  pre-financing  payment  and/or 
subsequent clearings. 

At  31  December  2011  the  "nominal"  value  of  guarantees  received  by  the  EDF  in  respect  of  pre-
financing  amounts  to  EUR  637  million.  The  "on-going"  value  of  those  guarantees  amounts  to 

27 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
EUR 394  million.  At  31  December  2010  these  values  were  EUR  674  million  and  EUR  363  million 
respectively. 

2.3 

SHORT-TERM RECEIVABLES 

from  Member 

Receivables from customers  
Receivables 
States 
Accrued  income  and  deferred 
charges 
TOTAL 

8th EDF 
2

9th EDF 
10

10th EDF 
1

EUR millions

TOTAL 
31.12.2011 
13 

TOTAL 
31.12.2010
10

-

2
4

-

77
87

9

10
20

9 

89 
111 

125

112
247

2.3.1 Receivables from customers 

Receivables from customers 
-Impairment  of 
from customers  
TOTAL 

receivables 

8th EDF 
6

9th EDF 
18

10th EDF 
2

EUR millions

TOTAL 
31.12.2011 
27 

TOTAL 
31.12.2010
18

(4)
2

(8)
10

(1)
1

(13) 
13 

(8)
10

These  are  recovery  orders  entered  in  the  accounts  at  31  December  2011  as  established 
entitlements to be recovered and not already included under other headings on the assets side of 
the balance sheet. The closing balance for recovery orders represents the value of recovery orders 
issued but not yet paid at year-end. 

A  provision  is  estimated  for  impairment  losses  for  the  amounts  owed  by  beneficiaries  that  are 
unlikely to be recovered. This provision has two elements: 

–  Specific cases: Based on the risk of non recovery. 
–  General: Applying a provision based on historical loss rates to receivables which are not subject 

to a specific write-down.  

The  fact  that  such  an  adjustment  is  made  does  not  mean  that  the  future  recovery  of  these 
amounts is waived. 

The movements in open recovery orders during the period are detailed below. 

EUR millions

TOTAL 
2011 

TOTAL 
2010 

18 
130 
(123) 
(108) 
(1) 
(2) 
(13) 

20
164
(166)
(143)
(1)
(5)
(17)

25 

18

8th EDF 

9th EDF 

10th EDF 

Open  recovery  orders  at 
beginning of year 
Recovery orders issued  
Recovery orders closed  
Cashed 
Waived (art 73 FR) 
Cancelled 
Offset 
Open  recovery  orders  at 
end of year 

7
11
(12)
(9)
0
(1)
(3)

6

0
55
(55)
(53)
0
0
(1)

1

11
63
(56)
(46)
(1)
(1)
(8)

19

28 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2.3.2 Receivables from Member States 

The  EUR  9  million  receivable  from  Member  States  in  the  10th  EDF  comprises    contributions 
receivable  due  from  Hungary  and  Portugal  which  were  received  in  January  and  February  2012 
respectively and a cofinancing contribution from Denmark not yet due. 

2.3.3 Accrued income and deferred charges 

Accrued  income  and  deferred  charges  mainly  include  accrued  interest  on  pre-financing  amounts. 
Furthermore,  accrued  interest  income  on  late  payment  of  contributions  is  included  under  this 
heading. 

The  decrease  in  accrued  income  and  deferred  charges  of  EUR  23  million  is  explained  by  lower 
accrued interest on pre-financing (EUR 23 million) (see note 3.4.2). 

2.4 

LIAISON ACCOUNTS 

EUR millions

9th EDF 
(214)
to/from 6th EDF 
2 279
to/from 7th EDF 
(3 037)
to/from 8th EDF 
-
to/from 9th EDF 
3 529
to/from 10th EDF 
TOTAL 
2 557
For reasons of efficiency, the single treasury covering all the EDFs is allocated to the 10th EDF; this 
leads  to  operations  between  the  various  EDFs,  which  are  balanced  out  in  the  liaison  accounts 
between the various EDF balance sheets. 

10th EDF 
-
-
584
(3 529)
-
(2 944)

8th EDF 
(2 065)
-
-
3 037
(584)
387

TOTAL 
31.12.2011 
(2 279) 
2 279 
(2 453) 
(491) 
2 944 
0 

TOTAL 
31.12.2010
(2 279)
2 279
(2 563)
(450)
3 013
0

The  major  2011  movements  in  the  liaison  accounts  include  payments  made  by  the  10th  EDF  for 
implementation of the 8th and 9th EDFs and cash received by the 10th EDF related to contributions 
called under the 9th EDF. 

2.5 

CASH AND CASH EQUIVALENTS6 

Cash at banks 
STABEX security accounts  
Co-financing bank accounts 
Democratic  Republic  Congo 
special fund7 
TOTAL 

8th EDF 
-
-
-

9th EDF 
-
-
6

10th EDF 
1 211
5
2

TOTAL 
31.12.2011 
1 211 
5 
8 

EUR millions

TOTAL 
31.12.2010
781
17
10

-
-

-
6

1
1 218

1 
1 224 

0
808

6 

7 

In  accordance  with  Article 153  of  the  10th  EDF  Financial  Regulation,  the  treasury  is  presented  in  the 
balance  sheet  of  the  10th  EDF.  The  nature  of  the  various  bank  accounts  is  outlined  in  chapter  6, 
Financial Risk Management 
This balance represents the amounts available for the Democratic Republic of the Congo in accordance 
with the provisions of Council Decision 2003/583/EC7. These funds are earmarked for a specific purpose 
and beneficiary state. 

29 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                 
2.5.1 Cash at banks 

Special  accounts  -  financial 
institutions of Member States 
Current 
commercial banks 
Local Paying Agents  
TOTAL  

accounts 

– 

8th EDF 

9th EDF 

10th EDF 

EUR millions

TOTAL 
31.12.2011 

TOTAL 
31.12.2010

-

-
-
-

-

-
-
-

1 129

80
2
1 211

1 129 

80 
2 
1 211 

599

180
1
781

The overall increase in cash at banks is mainly explained by a lower budget execution in 2011 than 
planned.  

Local paying agent accounts represent amounts held in bank accounts within ACP States and OCTs 
used for making payments in local currency within the beneficiary state. These accounts are kept in 
euros  or  in  a  currency  of  a  Union  Member  State.  In  order  to  achieve  a  more  centralised 
management of payments, during 2011, 2 out of the 8 remaining local paying agent accounts were 
closed. 

2.5.2 STABEX Security accounts 

Saint Lucia 
St Vincent and the Grenadines 
Ivory Coast 
Malawi 
Other countries 
TOTAL 

Balance at 
31.12.2011 
0 
0 
2 
1 
2 
5 

EUR millions

Balance at 
31.12.2010
7
4
2
1
3
17

STABEX  is  the  acronym  for  a  European  Union  compensatory  finance  scheme  to  stabilise  export 
earnings  of  the  ACP  countries.  It  was  first  introduced  in  the  Lomé  Convention  (1975)  with  the 
purpose  of  remedying  the  harmful  effects  of  the  instability  of  export  revenue  from  agricultural 
products.  The  balance  on  the  STABEX  security  accounts  represents  the  total  of  STABEX  funds 
available  which  will  be  transferred  to  the  relevant  beneficiary  ACP  State  at  a  future  date.  This 
balance is allocated to the 10th EDF. In 2011, two STABEX security accounts were closed following 
the winding up of the STABEX aid instrument.  

In addition to these funds, there are other STABEX funds held by beneficiary ACP States. Once the 
Commission and the beneficiary (ACP) State reach agreement on how the STABEX funds are to be 
utilised, a transfer convention is signed by both parties. In accordance with the provisions of Article 
211  of  the  Lomé  IV  Agreement8  (as  revised),  the  funds  are  transferred  into  an  interest  bearing 
double signature account (European Commission and Beneficiary State) opened in the name of the 
ACP State. The funds remain in these double signature accounts until a FMO (Framework of Mutual 
Obligations) justifies a transfer for a project. 

The  Commission's  Authorising  Officer  retains  the  power  of  signature  over  the  account  in  order  to 
ensure  that  the  funds  are  disbursed  as  intended.  The  funds  in  the  double  signature  accounts  are 
the  property  of  the  ACP  State  and  are  consequently  not  recorded  as  assets  in  the  EDF  accounts. 
The transfers to these accounts are recorded as STABEX payments.  

In 2011, EUR 26 million was returned to the EDF from double signature accounts in ACP countries 
following  Article  1.4  of  the  Internal  Agreement  of  the  10th  EDF9.  These  funds  were  transferred 
mainly from Saint Lucia (EUR 9 million), Kenya (EUR 7 million) and Togo (EUR 4 million).  These 
revenues  are  included  in  operating  income  (STABEX  aid  instrument)  in  the  economic  outturn 
account of the 8th EDF. 

8 
9 

OJ L 156 of 29.05.1998 pp. 3-106 
OJ L 247 of 09.09.2006 

30 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                 
2.5.3 Co-financing bank accounts 

EUR millions

Co-financing bank accounts 
TOTAL  
These bank accounts include amounts related to co-financing agreements dated 2007 and earlier. 
These  co-financing  funds  are  the  property  of  the  Member  States  concerned  and  hence  a 
corresponding amount is registered as payable. Therefore, the effect on the net assets is nil.  

8th EDF 
-
-

9th EDF 
6
6

10th EDF 
2
2

TOTAL 
31.12.2011 
8 
8 

TOTAL 
31.12.2010
10
10

The Italian co-financing under the 9th EDF is still ongoing in Somalia. 

The co-financing bank accounts of the 10th EDF relate to old co-financing projects in the process of 
closure.  These  funds  will be  returned  to  the  Member  States  after  instruction  from  the Authorising 
Officer.  

CURRENT LIABILITIES 

2.6 

SHORT-TERM PAYABLES 

Current payables 
Accrued charges  
Deferred capital contribution 

8th EDF 
9
20
 -

9th EDF 
146
168
-

10th EDF 
243
151
295

TOTAL 
31.12.2011 
399 
339 
295 

EUR millions

TOTAL 
31.12.2010
487
286
272

TOTAL 

29

315

689

1 033 

1 045

Short-term payables include cost statements received by the EDF under the framework of the grant 
and procurement activities. They are recorded for the amount being claimed from the moment the 
demand  is  received.  The  same  procedure  applies  to  invoices  and  credit  notes  received  under 
procurement  activities.  The  cost  claims  concerned  have  been  taken  into  account  for  the  year-end 
cut-off procedures. Following the cut-off entries, estimated eligible amounts have been recorded as 
accrued charges. 

2.6.1 Current payables 

Suppliers and other 
Payables  to  Member  States  – 
co-financing 
Sundry payables 

TOTAL 

8th EDF 
9

9th EDF 
140

10th EDF 
159

EUR millions

TOTAL 
31.12.2011 
308 

TOTAL 
31.12.2010
400

-
-

9

6
-

146

75
10

243

81 
10 

399 

75
12

487

2.6.1.1 Suppliers and other 

Included  under  this  heading  are  amounts  owed  to  suppliers  as  well  as  amounts  payable  to  public 
bodies and third states.  

The  decrease  of  EUR  92  million  compared  to  the  previous  reporting  period  includes  primarly  a 
EUR 62 million decrease in payables to third states.  

31 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2.6.1.2 Payables to Member States co-financing 

Co-financing contributions received are presented as payables to Member States as they fulfil the 
criteria  of  revenues  from  non-exchange  transactions  under  condition.  The  EDF  is  required  to  use 
the  contributions  to  deliver  services  to  third  parties  or  is  otherwise  required  to  return  the  assets 
(the  contributions  received)  to  the  Member  States.  The  outstanding  payable  for  co-financing 
agreements represents the co-financing contribution received less the expenses incurred related to 
the project. The effect on the net assets is nil.  

EUR  8  million  of  the  co-financing  payables  to  Member  States  relate  to  co-financing  agreements 
dated 2007  and earlier. These funds  are kept in dedicated bank accounts, see 2.5.3, co-financing 
bank accounts, above.  

In  2011,  new  co-financing  contributions  of  EUR  7  million  were  received  (Belgium  EUR 3 million, 
United  Kingdom  EUR  2  million,  Sweden  EUR  1  million  and  Switzerland  EUR  1 million).  The  funds 
relating  to  co-financing  agreements  signed  in  2008  and  later  are  not  kept  in  dedicated  bank 
accounts. 

The co-financing payables were decreased by EUR 2 million to recognise revenue  related to the co-
financing projects (see 3.1.4 and 3.2.2). 

2.6.1.3 Sundry payables 

Sundry payables mainly comprise unallocated cash receipts and returned amounts. 

2.6.2 Accrued charges 

Accrued charges  

TOTAL 

8th EDF 
20
20

9th EDF 
168
168

10th EDF 
151
151

EUR millions

TOTAL 
31.12.2011 
339 
339 

TOTAL 
31.12.2010
286
286

At year-end, an assessment is made concerning eligible expenses incurred by beneficiaries of EDF 
funds  but  not  yet  reported.  Following  these  cut-off  calculations,  estimated  eligible  amounts  are 
recorded  as  accrued  charges.  Estimated  utilisation  of  pre-financing  amount  is  presented  as  an 
estimated clearing of pre-financing (see 2.2).  

2.6.3 Deferred fund capital contribution 

United Kingdom 
Ireland 
Lithuania 
TOTAL  

8th EDF 
-
-
-
-

9th EDF 
-
-
-
-

10th EDF 
289
5
1
295

TOTAL 
31.12.2011 
289 
5 
1 
295 

EUR millions

TOTAL 
31.12.2010
269
3
-
272

This comprises Member States' contributions paid in advance. 

32 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NET ASSETS 

2.7 

CALLED FUND CAPITAL 

Fund Capital  
Uncalled fund capital  
Called fund capital 31.12.2010 

Fund Capital 
Uncalled fund capital  
Called fund capital 31.12.2011 

EUR millions

8th EDF 

9th EDF 

10th EDF 

TOTAL 

12 840
-
12 840

12 840
-
12 840

11 699
(660)
11 039

11 699
-
11 699

21 152 
(21 152) 
- 

21 152 
(18 712) 
2 440 

45 691
(21 812)
23 879

45 691
(18 712)
26 979

The  fund  capital  represents  the  total  amount  of  contributions  from  the  Member  States  for  the 
relevant EDF fund as laid down in each of the Internal Agreements. 

Uncalled funds represent the initial allocation not yet called up from Member States. 

Called  fund  capital  represents  the  amount  of  the  initial  allocations  which  has  been  called  up  for 
transfer to the treasury accounts by the Member States in accordance with the procedure laid down 
in Article 16 of the 10th EDF Financial Regulation. 

The capital of the 8th and the 9th EDF has been called up and received in its entirety.  

The  10th  EDF  entered  into  force  in  2008  with  a  fund  capital  amounting  to  EUR 21 152 million, 
according to the Internal Agreement applicable to the 10th EDF.  

Fund capital  

Contributions 
Austria 
Belgium 
Denmark 
Finland 
France 
Germany 
Greece 
Ireland 
Italy 
Luxemburg 
Netherlands 
Portugal 
Spain 
Sweden 
United Kingdom 
EIB  
TOTAL  

uncalled 
9th EDF 
31.12.2010
(19)
(27)
(15)
(10)
(170)
(164)
(9)
(4)
(88)
(2)
(37)
(7)
(41)
(19)
(89)
40
(660)

% 
2.65 
3.92 
2.14 
1.48 
24.30 
23.36 
1.25 
0.62 
12.54 
0.29 
5.22 
0.97 
5.84 
2.73 
12.69 
N.A. 
100,00 

EUR millions 
uncalled 
9th EDF 
31.12.2011 
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

called up 
in 2011 
19
27
15
10
170
164
9
4
88
2
37
7
41
19
89
(40)
660

33 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Contributions 
Austria 
Belgium 
Denmark 
Finland 
France 
Germany 
Greece 
Ireland 
Italy 
Luxemburg 
Netherlands 
Portugal 
Spain 
Sweden 
United Kingdom 
Cyprus 
Czech Republic 
Estonia 
Hungary 
Lithuania 
Latvia 
Malta 
Poland 
Slovenia 
Slovakia 
Bulgaria 
Romania 
TOTAL  

uncalled 
10th EDF 
31.12.2010
(510)
(747)
(423)
(311)
(4 135)
(4 336)
(311)
(192)
(2 720)
(57)
(1 026)
(243)
(1 660)
(580)
(3 135)
(19)
(108)
(11)
(116)
(25)
(15)
(6)
(275)
(38)
(44)
(30)
(78)
(21 152)

% 
2.41 
3.53 
2.00 
1.47 
19.55 
20.50 
1.47 
0.91 
12.86 
0.27 
4.85 
1.15 
7.85 
2.74 
14.82 
0.09 
0.51 
0.05 
0.55 
0.12 
0.07 
0.03 
1.3 
0.18 
0.21 
0.14 
0.37 
100,00 

EUR millions 
uncalled 
10th EDF 
31.12.2011 
451
661
374
275
3 658
3 836  
275
170
2 406
51
908
215
1 469
513
2 773
17
95
9
103
22
13
6
243
34
39
26
69
18 712

called up 
in 2011 
59
86
49
36
477
500
36
22
314
7
118
28
192
67
362
2
12
1
13
3
2
1
32
4
5
3
9
2 440

In 2011, the final call under the 9th EDF was made and the first contributions under the 10th EDF, in 
which the 27 Member States participate, were called. 

2.8  OTHER RESERVES 

to/from 6th EDF 
to/from 7th EDF 
to/from 8th EDF 
to/from 9th EDF 
to/from 10th EDF 
TOTAL 

8th EDF 
94
533
-
(2 762)
(141)
(2 276)

9th EDF 
490
1 135
2 762
-
(161)
4 227

10th EDF 
-
-
141
161
-
301

TOTAL 
31.12.2011 
584 
1 668 
2 903 
(2 601) 
(302) 
2 252 

EUR millions

TOTAL 
31.12.2010
584
1 668
2 864
(2 531)
(333)
2 252

Since  the  entry  into  force  of  the  10th  EDF  in  2008,  all  decommitted  funds  of  previous  EDFs  are 
transferred  to  the  reserve  of  the  10th  EDF.  This  reserve  may  be  committed  only  under  the 
conditions set out in Article 1.4 of the Internal Agreement on the 10th EDF. 

34 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
In 2011, EUR 38 million and EUR 80 million of decommitted funds were transferred to the 10th EDF 
from  the  8th  and  9th  EDFs  respectively  and  EUR  150  million  were  transferred  from  performance 
reserve of the 10th EDF to the 9th EDF.10  

On 23 May 2011 a Council decision was taken11 to allocate an amount of EUR 200 million to South 
Sudan from funds decommitted from projects under the 9th and previous EDF's. At year-end 2011 
this  amount  is  still  allocated  to  the  performance  reserve  of  the  10th  EDF  but  should  be  released 
from these reserves in 2012. 

3. 

NOTES TO THE ECONOMIC OUTTURN ACCOUNT 

3.1  OPERATING REVENUE 

Recovery of expenses 
Recovery of STABEX funds 
Exchange gains 

Operating income co-financing  
TOTAL 

8th EDF 
3
26
11
-
40

9th EDF 
11
-
37
-
49

10th EDF 
2
-
7
2
10

3.1.1 Recovery of expenses 

EUR millions

TOTAL 
2011 

TOTAL 
2010 

16 
26 
54 
2 
99 

29
32
78
1
140

This heading represents the recovery orders issued by the EDF and the deduction from subsequent 
payments  recorded  in  the  EDF  accounting  system,  to  recover  expenditures  previously  paid  out, 
based  on  controls,  audits  or  eligibility  analysis.  It  should  be  noted  that  recovery  of  pre-financing 
amounts  is  not  included  as  revenue,  but  credited  to  the  pre-financing  heading  on  the  balance 
sheet.  

3.1.1.1 Recovery of undue payments 

In 2011, recovery orders for EUR 12 million were issued in respect of undue payments, compared 
to  EUR  11  million  in  2010.  Of  these,  EUR  8  million  related  to  the  recovery  of  expenses  and  were 
thus recorded as operating revenue. EUR 4 million represented recoveries of pre-financing amounts 
paid and were credited to the pre-financing asset on the balance sheet.  

The nature of the recovery of undue payments can be summarised as follows:  

Error 
Irregularity 
OLAF Notified 
TOTAL  

Revenue
2
6
1
8

Pre-
financing
1
3
-
4

TOTAL 
2011 
3
8
1
12

Revenue 
1
5
1
7

EUR millions

Pre-
financing 
1 
3 
- 
4 

TOTAL 
2010 
2
8
1
11

3.1.2 Recovery of STABEX funds 

In 2011, EUR 26 million was returned to the EDF from double signature accounts in ACP countries 
following  Article  1.4  of  the  Internal  Agreement  of  the  10th  EDF12.  These  funds  were  transferred 
mainly  from  Saint  Lucia  (EUR  9  million),  Kenya  (EUR  7  million)  and  Togo  (EUR  4  million).  These 

10  

11  
12 

Council Decision 2010/406/EU of 12 July 2010 concerning the allocation of the funds decommitted from 
projects under the ninth and previous European Development Funds (EDF) for the purpose of addressing 
the needs of the most vulnerable population in Sudan. 
Council Decision 2011/315/EU of 23 May 2011. 
OJ L 247 of 09.09.2006 

35 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                 
revenues  are  included  in  operating  income  (STABEX  aid  instrument)  in  the  economic  outturn 
account of the 8th EDF. 

3.1.3 Exchange gains 

Exchange  gains  arise  from  the  everyday  activities  and  related  transactions  made  in  currencies 
other than the euro, as well as the year-end revaluation required to prepare the annual accounts. 
They contain both realised and unrealised gains. 

3.1.4 Operating income co-financing 

The  operating  income  relating  to  co-financing  represents  the  contributions  used  (see 
3.2.2).  As  these  contributions  fulfil  the  criteria  of  revenues  from  non-exchange 
transactions  under  condition,  the  contribution  is  recognised  in  accordance  with  the 
implementation of the co-financing project.  

3.2  OPERATING EXPENSES 

Operating  expenses  –  aid 
instruments  
Operating 
financing  
Exchange losses 
Impairment of receivables 

expenses 

co-

TOTAL 

8th EDF 

9th EDF 

10th EDF 

114

-
11
3
128

879

-
41
4
924

1 640

2
8
-
1 650

EUR millions

TOTAL 
2011 

TOTAL 
2010 

2 633 

2 852

2 
61 
7 
2 702 

1
58
3
2 914

3.2.1 Operating expenses – aid instruments 

10th EDF 

TOTAL 
2011 

EUR millions
TOTAL 
2010 

8th EDF 

9th EDF 
56
51
372
-
301
63
-
-
-
-

1 127
35
765

58
-
0
0
-
-
0
19
12
(8)

1 136
-
0
-
349
149
-
-
-
-

1 251 
51 
371 
0 
650 
212 
0 
19 
12 
(8) 

Programmable aid 
Macro-economic support 
Sectoral policy 
Interest rate subsidies 
Intra ACP projects 
Emergency aid 
Refugee aid 
Risk capital 
STABEX 
Sysmin13 
Other  aid  programmes  related 
to former EDFs 
Debt  relief  -  Heavily  Indebted 
Poor  Countries  and  World 
Bank 
Institutional support 
Compensation export receipts 
Democratic  Republic  Congo 
Fund 
Total 
The  EDF  operating  expenditure  covers  the  various  aid  instruments  and  takes  different  forms, 
depending on how the money is paid out and managed.  

0 
2 633 

336
442
(1)

-
1 640

15
2 852

- 
8 
42 

14
44
37

-
2
10

-
-
32

-
114

0
879

46
10

-
6
-

(17)

24 

24

-

-

13 

The negative balance for Sysmin is caused by a reversal of accrued charges.  

36 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                 
3.2.2 Operating expenses co-financing 

These are the expenses incurred on co-financing projects in 2011. As the co-financing contributions 
received  fulfil  the  criteria  of  revenues  from  non-exchange  transactions  under  condition,  a 
corresponding amount of contributions has been recognised as operating revenue (see 3.1.4).  

3.2.3 Exchange losses 

Exchange losses occur on the everyday activities and related transactions made in currencies other 
than the euro, as well as the year-end revaluation required to prepare the annual accounts – they 
are both realised and unrealised. 

Looking at the net position, there was a net exchange loss of EUR 6 million for the year (exchange 
losses of EUR 61 million less exchange gains of EUR 54 million).  

3.2.4 Impairment of receivables 

This  heading  includes  mainly  pre-financing  corrections  and  amounts  written  down/lost  on 
realisation concerning debtors. 

3.3  ADMINISTRATIVE EXPENSES 

Administrative expenses 

TOTAL 

8th EDF 
0

9th EDF 
3

10th EDF 
72

0

3

72

EUR millions

TOTAL 
2011 

TOTAL 
2010 

75 

75 

86

86

This  heading  includes  support  expenditure;  i.e.  the  administrative  costs  related  to  the 
programming  and  implementation  of  the  EDFs.  This  includes  expenses  for  preparation,  follow-up, 
monitoring,  and  evaluation  of  projects  as  well  as  expenses  for  computer  networks,  Technical 
Assistance etc. 

3.4 

FINANCIAL REVENUE 

Interest  income  -  European 
banks 
Interest income – STABEX 
Interest 
income 
payments of recovery orders 
Interest on pre-financing 

late 

on 

TOTAL 

8th EDF 

9th EDF 

10th EDF 

EUR millions

TOTAL 
2011 

TOTAL 
2010 

-
0

0
(1)

(1)

0
-

0
(19)

(19)

1
-

0
(1)

0

1 
0 

0 
(21) 

(20) 

1
0

3
91

95

The interest income in 2011 remains low due to the continued low interest rates.  

37 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3.4.1 Interest income on late payments of recovery orders 

This is interest earned on late payments of recovery orders by debtors, including late payments of 
contributions by Member States. Such funds can be used for financing projects in accordance with 
Articles 1 and 6 of the Internal Agreement applicable to the 10th EDF. 

3.4.2 Interest on pre-financing 

Interest on pre-financing is recognised in the accounts in accordance with the provisions of article 7 
paragraph 3 and article 8 of the 10th EDF Financial Regulation.  
The accrued interest on pre-financing amounts for 2011 is lower than that of 2010 and in fact the 
reversal  of  the  2010  accrual  resulted  in  negative  interest  revenue.  This  was  caused  by  a 
reclassification during 2011 of several contracts which were previously labelled as grant contracts 
in  2010  to  joint  management  contracts  with  International  organisations.  According  to  the 
provisions  of  the  Financial  Regulation  articles  mentioned  above  the  former  type  of  contracts  give 
rise to calculation of interest accruals on prefinancing while the latter type of contracts does not. 

4. 

NOTES TO THE CASH FLOW STATEMENT 

4.1 

PURPOSE AND PREPARATION OF THE CASH FLOW STATEMENT 

Cash  flow  information  is  used  to  provide  a  basis  for  assessing  the  ability  of  the  EDF  to  generate 
cash and cash equivalents, and its needs to utilise those cash flows. 

The cash flow statement is prepared using the indirect method. This means that the net surplus or 
deficit for the financial year is adjusted for the effects of transactions of a non-cash nature and any 
deferrals or accruals of past or future operating cash receipts or payments. 

Cash  flows  arising  from  transactions  in  a  foreign  currency  are  recorded  in  the  EDF's  reporting 
currency (euro), by applying to the foreign currency amount the exchange rate between the euro 
and the foreign currency at the date of the cash flow. 

4.2  OPERATING ACTIVITIES 

The EDF cash flow statement only shows cash flows from operating activities as the EDF does not 
have investment or financing activities. The objective of the operating activities is to participate in 
the achievement of policy targeted outcomes.  

5. 

CONTINGENT ASSETS AND LIABILITIES AND OTHER DISCLOSURES 

5.1 

CONTINGENT ASSETS  

Performance guarantees 
Retention guarantees 
Contingent  assets  relating  to 
legal cases 
TOTAL 

8th EDF 
16
5

9th EDF 
221
151

10th EDF 
88
40

EUR millions

TOTAL 
31.12.2011 
325 
197 

TOTAL 
31.12.2010
360
227

-
21

1
373

-
128

1 
523 

1
587

5.1.1 Performance guarantees  

Performance guarantees are sometimes requested to ensure that beneficiaries of EDF funding meet 
the obligations of their contracts with the EDF. 

The decrease of EUR 35 million in performance guarantees is a difference between the  guarantees 
released  and  new  guarantees  received.  Most  of  the  guarantees  were  relased  under  the  8th  EDF 

38 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(EUR 23 million linked mainly to programmable aid) and 9th EDF (EUR 90 million mainly linked to 
Sectoral policy aid). 

5.1.2 Retention guarantees 

Retention  guarantees  concern  only  works  contracts.  Typically,  10%  of  the  interim  payments  to 
beneficiaries  are  withheld  to  ensure  that  the  contractor  fulfils  his/her  obligations.  These  withheld 
amounts  are  reflected  as  amounts  payable.  Subject  to  the  approval  of  the  contracting  authority, 
the contractor may instead submit a retention guarantee which replaces the amounts withheld on 
interim payments. These received guarantees are disclosed as contingent assets. 

The  decrease  of  EUR  30  million  in  retention  guarantees  is  a  difference  between  the    guarantees 
released  and  new  guarantees  received.  Most  of  the  guarantees  were  released  under  the  9th  EDF 
(EUR  63  million  linked  mainly  to  Sectoral  policy  aid).  The  new  guarantees  were  mainly  received 
under the 9th EDF (EUR 31 million mainly linked to Sectoral policy aid) and the 10th EDF (EUR 22 
million). 

5.2 

CONTINGENT LIABILITIES  

8th EDF 

9th EDF 

10th EDF 

EUR millions

TOTAL 
31.12.2011 

TOTAL 
31.12.2010

relating 

to 

legal 

Amounts 
cases  
TOTAL 

-
-

0
0

-
-

0 
0 

6
6

The  above  amounts  relate  to  actions  for  damages  currently  being  brought  against  the  EDF,  other 
legal  disputes  and  the  estimated  legal  costs.  All  contingent  liabilities  and  commitments  would  be 
financed, should they fall due, by the EDF in the future.  

5.3  OTHER DISCLOSURES  

5.3.1 Budgetary commitments  

8th EDF 

9th EDF 

10th EDF 

EUR millions

TOTAL 
31.12.2011 

TOTAL 
31.12.2010

budgetary 

Outstanding 
commitments not yet paid 
Related  amounts  included  in 
the economic outturn account 
TOTAL 

157

1 643

3 794

5 594 

5 991

(29)
128

(308)
1 335

(309)
3 485

(646) 
4 948 

(714)
5 277

Outstanding  budgetary  commitments  represent  open  commitments  for  which  payments  and/or 
decommitments  have  not  yet  been  made.  This  is  a  normal  consequence  of  the  existence  of 
multiannual programmes. At 31 December 2011 the outstanding budgetary commitments totalled 
EUR 5 594 million. The amount disclosed as a future commitment to be funded is this outstanding 
budgetary  commitment  less  related  amounts  that  have  been  included  as  expenses  in  the  2011 
economic outturn account, giving a total of EUR 4 948 million. 

6. 

FINANCIAL RISK MANAGEMENT 

The  following  disclosures  with  regard  to  the  financial  risk  management  of  the  European 
Development  Fund  relate  to  the  treasury  operations  carried  out  by  the  European  Commission  on 
behalf of the European Development Fund in order to implement its resources. 

39 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
6.1  RISK MANAGEMENT POLICIES AND HEDGING ACTIVITIES 

The  rules  and  principles  for  the  management  of  the  EDF's  treasury  operations  are  laid  down  in 
Council  Regulation  215/2008  on  the  Financial  Regulation  applicable  to  the  10th  EDF,  and  in  the 
Internal Agreement. 

As a result of the above regulation, the following main principles apply: 

–  The EDF contributions are paid by Member States  in special accounts opened with the bank of 
issue  of  each  Member  State  or  the  financial  institution  designated  by  it.  The  amounts  of  the 
contributions shall remain in those special accounts until the payments of EDF need to be made. 

–  EDF  contributions  are  paid  by  Member  States  in  EUR,  while  the  EDF's  payments  are 

denominated in EUR and in other currencies, including less well-known ones. 

–  Bank accounts opened by the Commission on behalf of the EDF may not be overdrawn. 

In addition to the special accounts, other bank accounts are opened by the Commission on behalf 
of  the  EDF,  with  financial  institutions  (central  banks  and  commercial  banks),  for  the  purpose  of 
executing  payments  and  receiving  receipts  other  than  the  Member  State  contributions  to  the 
budget according to art. 44 of the Council Regulation 215/2008 (see 6.4 below).  

All  commercial  banks  where  accounts  other  than  the  "special  accounts"  mentioned  above  have 
been opened for the EDF, are selected by the Commission by call for tenders.  

Treasury and payment operations are highly automated and rely on modern information systems. 
Specific procedures are applied to guarantee system security and to ensure segregation of duties in 
line  with  the  Financial  Regulation,  the  Commission’s  internal  control  standards,  and  audit 
principles. 

A written set of guidelines and procedures regulate the management of the treasury and payment 
operations  with  the  objective  of  limiting  operational  and  financial  risk  and  ensuring  an  adequate 
level of control. They cover the different areas of operation, and compliance with the guidelines and 
procedures is checked regularly. 

6.2  MARKET RISK 

6.2.1  Currency risk 

All  contributions  are  held  in  EUR,  and  other  currencies  are  purchased  only  when  they  are  needed 
for  the  execution  of  payments.  As  a  result  the  EDF's  treasury  operations  are  not  exposed  to 
currency risk. 

6.2.2  Interest rate risk 

The EDF does not borrow monies; as a consequence it is not exposed to interest rate risk. 

It however earns interest on balances it holds on its different banks accounts. The Commission, on 
behalf  of  the  EDF,  has  therefore  put  in  place  measures  to  ensure  that  interest  earned  regularly 
reflect market interest rates as well as their possible fluctuation.  

Overnight  balances  held  on  commercial  bank  accounts  are  remunerated  on  a  daily  basis.  The 
remuneration  of  balances  on  such  accounts  is  based  on  variable  market  rates  to  which  a 
contractual  margin  (positive  or  negative)  is  applied.  For  most  of  the  accounts  the  interest 
calculation is linked to the EONIA (Euro Over Night Index Average), and is adjusted to reflect any 
fluctuations  of  this  rate.  For  some  other  accounts  the  interest  calculation  is  linked  to  the  ECB 
marginal rate (the one used for the ECB refinancing operations). As a result no risk is taken by the 
EDF that its balances be remunerated at rates lower than market rates. 

6.3 

CREDIT RISK (COUNTERPARTY RISK) 

Most of the EDF's treasury resources are kept, in accordance with Council Regulation 215/2008, in 
the  "special  accounts"  opened  by  Member  States  for  the  payment  of  their  contributions.  The 

40 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
majority of such accounts are held with Member States' treasuries or national central banks. These 
institutions carry the lowest counterparty risk for the EDF (exposure is with its Member States). 

For  the  part  of  the  EDF's  treasury  resources  kept  with  commercial  banks  in  order  to  cover  the 
execution of payments, replenishment of these accounts is executed on a just-in-time basis and is 
automatically  managed  by  the  Commission  treasury's  cash  management  system.  Minimum  cash 
levels,  proportional  to  the  average  amount  of  daily  payments  made  from  it,  are  kept  on  each 
account. As a consequence the amounts kept overnight on these accounts remain constantly at low 
levels which ensure the EDF's risk exposure is limited. 

In addition, specific guidelines are applied for the selection of commercial banks in order to further 
minimise counterparty risk to which the EDF is exposed. 

All  commercial  banks  are  selected  by  call  for  tenders.  The  minimum  short-term  credit  rating 
required for admission to the tendering procedures is Moody's P-1 or equivalent (S&P A-1 or Fitch 
F1). A lower level may be required in specific and duly justified circumstances. 

6.4 

LIQUIDITY RISK 

Budget  principles  applied  to  the  EDF  ensure  that  overall  cash  resources  for  the  budgetary  period 
are  always  sufficient  for  the  execution  of  all  related  payments.  Indeed  the  total  Member  States' 
contributions  equal  the  overall  amount  of  payment  appropriations  for  the  relevant  budgetary 
period. 

Member  States  contributions  to  EDF,  however,  are  paid  in  three  instalments  per  year,  while 
payments are subject to certain seasonality. 

In  order  to  ensure  that  treasury  resources  are  always  sufficient  to  cover  the  payments  to  be 
executed in any given month, information on the treasury situation is regularly exchanged between 
the Commission' treasury and the relevant spending departments in order to ensure that payments 
executed in any given period do not exceed the available treasury resources. 

In  addition  to  the  above,  in  the  context  of  the  EDF's  daily  treasury  operations,  automated  cash 
management tools ensure that sufficient liquidity is available on each of the EDF's bank accounts, 
on a daily basis. 

7. 

RELATED PARTY DISCLOSURES 

No related party transactions requiring separate disclosure under this heading have been identified. 

8. 

EVENTS AFTER THE BALANCE SHEET DATE 

At the date of transmission of these accounts, no material issues had come to the attention of the 
Accounting Officer of the EDF or were reported to him that would require separate disclosure under 
this  section.  The  annual  accounts  and  related  notes  were  prepared  using  the  most  recently 
available information and this is reflected in the information presented above. 

9. 

RECONCILIATION ECONOMIC OUTTURN - BUDGET OUTTURN 

The  economic  outturn  of  the  year  is  calculated  on  the  basis  of  accrual  accounting  principles.  The 
budget  outturn  is  however  based  on  cash  accounting  rules,  in  accordance  with  the  Financial 
Regulation.  As  both  are  the  result  of  the  same  underlying  transactions,  it  is  a  useful  control  to 
ensure  that  they  are  reconcilable.  The  table  below  shows  this  reconciliation,  highlighting  the  key 
reconciling amounts, split between revenue and expenditure items. 

41 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2011 

EUR millions 
2010 

ECONOMIC OUTTURN OF THE YEAR 

(2 700) 

(2 765)

REVENUE 

Entitlements not affecting the budget outturn 
Entitlements  established  in  the  current  year  but  not  yet 
collected 
Entitlements  established  in  previous  years  and  collected  in  the 
current year 
Net effect of pre-financing 
Net accrued revenue  

EXPENDITURE 
Expenses of the current year not yet paid 
Expenses of previous years paid in the current year 
Payment cancellations 
Net effect of pre-financing 
Net accrued expenses  

(52) 

(3) 

10 

46 
(13) 

98 
(249) 
17 
(346) 
317 

(33)

(4)

10

53
(173)

178
(155)
39
(353)
(31)

BUDGET OUTTURN OF THE YEAR 

(2 874) 

(3 233)

9.1 Reconciling items – Revenue 

The budgetary revenue of a financial year corresponds to the revenue collected from entitlements 
established  in  the  course  of  the  year  and  amounts  collected  from  entitlements  established  in 
previous years.  

The  entitlements  not  affecting  the  budget  outturn  are  recorded  in  the  economic  outturn  but 
from  a  budgetary  perspective  cannot  be  considered  as revenues as the cashed amount is 
transferred to reserves and cannot be recommitted without a Council decision.  

The  entitlements  established  in  the  current  year  but  not  yet  collected  are  to  be  deducted 
from  the  economic  outturn  for  reconciliation  purposes  as  they  do  not  form  part  of  budgetary 
revenue.  On  the  contrary,  the  entitlements  established  in  previous  years  and  collected  in 
the current year must be added to the economic outturn for reconciliation purposes. 

The net effect of pre-financing is the clearing of the recovered pre-financing amounts. This is a 
cash receipt which has no impact on the economic outturn. 

The  net  accrued  revenue  mainly  consists  of  accruals  made  for  year-end  cut-off  purposes.  Only 
the net effect, i.e. the accrued revenue of the current year less the reversal of accrued revenue of 
the previous year, is taken into consideration. 

9.2 Reconciling items – Expenditure 

Expenses of the current year not yet paid are to be added for reconciliation purposes as they 
are  included  in  the  economic  outturn  but  do  not  form  part  of  budgetary  expenditure.  On  the 
contrary, the expenses of previous years paid in the current year must be deducted from the 
economic  outturn  for  reconciliation  purposes  as  they  are  part  of  the  current  year's  budgetary 
expenditure  but  have  either  no  effect  on  the  economic  outturn  or  they  decrease  the  expenses  in 
case of corrections. 

The cash receipts from payment cancellations do not affect the economic outturn whereas they 
impact the budget outturn. 

42 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The net effect of pre-financing is the combination of the new pre-financing amounts paid in the 
current  year  (recognised  as  budgetary  expenditure  of  the  year)  and  the  clearing  of  pre-financing 
paid  in  the  current  year  or  previous  years  through  the  acceptance  of  eligible  costs.  The  latter 
represents an expense in accrual terms but not in the budgetary accounts since the payment of the 
initial  pre-financing  had  already  been  considered  as  a  budgetary  expenditure  at  the  time  of  its 
payment. 

The  net  accrued  expenses  mainly  consist  of  accruals  made  for  year-end  cut-off  purposes,  i.e. 
eligible expenses incurred by beneficiaries of EDF funds but not yet reported to the EDF. Only the 
net  effect,  i.e.  the  accrued  expenses  of  the  current  year  less  the  reversal  of  accrued  expenses  of 
the previous year, is taken into consideration.   

43 

 
 
2. REPORT ON FINANCIAL IMPLEMENTATION 

INTRODUCTORY NOTE 

Previous EDFs 

•  Decision 1/2000 of the ACP-EC Council of 27 July 2000 regarding transitional measures 
provides  for  some  of  the  unallocated  resources  from  previous  EDFs  to  be  used  for 
programmes consistent with the relevant provisions of the Cotonou Agreement and put 
into early application under transitional measures. 

•  Commission  Decision  410/2001  of  16  March  2001,  which  fixes  the  allocations  for  the 
indicative programmes of the ACP countries under the ACP-EC Partnership Agreement, 
provides that the unallocated resources from previous EDFs up to a maximum of EUR 
1.2  billion  are  to  be  used  for  implementation  in  accordance  with  the  rules  and 
procedures of the relevant EDFs, pending the entry into force of the Financial Protocol 
to the 9th EDF. 

•  Commission  Decision  1033/2001  of  15  June  2001  fixed  the  allocations  for  regional 
programmes  and  intra-ACP  cooperation  under  the  Financial  Protocol  to  the  ACP-EC 
Partnership Agreement. 

•  Commission Decision 1252/2002 of 11 July 2002 increased the envelope intended for 
intra-ACP cooperation by EUR 60 million, from the general reserves of the 6th and 7th 
EDFs,  and  also  provided  for  the  use  of  these  additional  funds  pending  the  entry  into 
force  of  the  Financial  Protocol  to  the  9th  EDF,  in  accordance  with  the  rules  and 
procedures applicable to the original EDFs. 

•  Lastly, Decision 3/2002 of the ACP-EC Council of Ministers of 23 December 2002 took 
an  amount  of  EUR  25  million  from  the  unallocated  resources  of  the  8th  EDF  (general 
reserve)  and  allocated  it  to  regional  cooperation  under  the  ACP-EC  Partnership 
Agreement. 

•  As  the  6th  EDF  was  closed  in  2006  and  the  7th  EDF  was  closed  in  2008,  the  annual 
accounts  no  longer  contain  implementation  tables  for  these  EDFs.  However, 
implementation of the transferred balances can be found in the 9th EDF. 

•  As in past years, to ensure transparency in the presentation of the accounts for 2009, 
the tables below set out separately for the 8th EDF the part used for Lomé Convention 
programming  and  the  part  used  for  programming  under  the  Cotonou  Agreement. 
Regarding the latter, entry in the accounts and the presentation of accounts is based 
on  Article  3(2)  of  Annex  IV  to  the  ACP-EC  Partnership  Agreement,  as  regards 
countries. That Article gives the ACP countries an A envelope to cover macroeconomic 
support  and  support  for  programmes  and  projects  and  a  B  envelope  to  cover 
unforeseen needs such as emergency assistance, debt relief initiatives and support to 
offset  the  adverse  effects  of  instability  in  export  earnings14.  For  the  regions,  the 
accounts are set out according to the regional programming as referred to in Chapter 2 
of  the  ACP-EC  Partnership  Agreement  (i.e.  regional  indicative  programmes  and  intra-
ACP cooperation). 

•  Under  Point  4  of  Annex  Ib  (Multiannual  financial  framework  for  the  period  2008  to 
2013) to the ACP-EC Partnership Agreement, the remaining balances and the amounts 
decommitted  under  the  Funds  between  31.12.2007  and  the  entry  into  force  of  the 
10th EDF were transferred to the 9th EDF to ensure that the EU administration could 
do  its  work  and  to  cover  the  costs  of  ongoing  projects  until  the 10th  EDF  comes  into 
force. 

14 

The  unallocated  resources  from  the  previous  EDFs  include  the  balance  of  the  Sysmin  funds,  which  by 
Decision  3/2000  of  the  ACP-EC  Council  of  Ministers  was  set  at  EUR  410,926  million.  Commission 
Decision  PE/410/2001  includes  these  resources  in  programming  for  the  national  indicative  allocations 
(part B) under the financial protocol to the ACP-EC Partnership Agreement. 

44 

 
 
 
 
 
                                                 
•  Council  Decision  2010/406/EU  decided  to  use  for  the  benefit  of  Sudan  an  amount  of 
EUR150 million from the funds de-committed from projects under the 9th and previous 
EDF's for the purpose of addressing the needs of the most vulberable population. This 
amount has been allocated during 2011. 

•  Council  Decision  2011/315/EU  decided  to  use  for  the  benefit  of  South  Sudan  an 
amount  of  EUR  200  million  from  the  funds  de-committed  from  projects  under  the  9th 
and  previous  EDF's  to  be  used  to  support  the  implementation  of  the  Three  Year 
Southern  Sudan  Development  plan.  This  amount  has  not  yet  been  allocated  for 
programming. 

10th EDF 
The  ACP-EC Partnership  Agreement  signed  on  23 June  2000  in  Cotonou  by  the  Member  States  of 
the  European  Community  and  the  States  of  Africa,  the  Caribbean  and  the  Pacific  (ACP  States) 
entered  into  force  on  1  April  2003.  The  Cotonou  Agreement  was  amended  on  25  June  2005  and 
23 June 2010.  

The  EU  Council  Decision  of  27  November  2001  (2001/822/EC)  on  the  association  of  the  overseas 
countries  and  territories  (OCT)  with  the  European  Union  entered  into  force  on  2  December  2001. 
This Decision was amended on 19 March 2007 (Decision 2007/249/EC). 

The  Internal  Agreement  on  the  financing  of  Community  aid  under  the  multiannual  financial 
framework for the period 2008-2013 in accordance with the revised Cotonou Agreement, adopted 
by the Representatives of the Governments of the Member States of the European Community on 
17 July 2006, entered into force on 1 July 2008. 

Under  the  Cotonou  Agreement,  the  second  period  (2008-2013)  of  EU  aid  to  the  ACP  States  and 
OCTs is funded by the 10th EDF to the tune of EUR 22 682 million, of which: 

–  EUR 21 966 million is allocated to the ACP countries in accordance with the multiannual financial 
framework set out in Annex Ib to the revised Cotonou Agreement, of which EUR 20 466 million  
is managed by the European Commission; 

–  EUR  286  million is  allocated  to  the  OCTs  in  accordance  with Annex  IIAa  of  the  revised  Council 
Decision  on  the  association  of  the  OCTs  with  the  European  Community,  of  which 
EUR 256 million is managed by the European Commission; 

–  EUR  430  million  is  for  the  Commission  to  finance  the  costs  arising  from  the  programming  and 
implementation of 10th EDF resources, in accordance with Article 6 of the Internal Agreement. 

On the date of entry into force of the 10th EDF, these amounts were supplemented by unexpended 
balances and are still supplemented by decommitted funds resulting from the system to guarantee 
the  stabilisation  of  export  earnings  from  primary  agricultural  products  (STABEX)  under  the  Funds 
prior  to  the  9th  EDF.  These  balances  and  decommitted  funds  should  be  used  and  managed  in 
Internal  Agreement.  
accordance  with 

revised  Cotonou  Agreement 

and 

the 

the 

Of the above mentioned 10th EDF allocations, the European Commission manages the amount 
of EUR 21 152 million as follows 

–  EUR 15 300 million for the national indicative programmes, comprising: 

•  EUR 13 500 million for the A envelopes, of which EUR 12 467 million in allocations are 
opened  and,  from  this  amount,  a  sum  of  EUR  33  million  was  transferred  to  regional 
allocations  (MTR  region-PALOP).  In  addition,  the  A  envelope  was  increased  by 
EUR 57 million representing Stabex decommitted funds; 

•  EUR 1 800 million for the B envelopes, of which EUR 601 million as initial allocations, 
and EUR 1 199 million as a reserve for unforeseen needs (used for financing different 
instruments  like  the  yearly  FLEX,  and  the  ad-hoc  Vulnerability  FLEX  and  response  to 
food prices crisis). Of this total an amount EUR 1 624 Million are openend. 

–  EUR  1  783  million  for  the  regional  indicative  programmes,  together  with  a  transfer  of 

EUR 33 million resulting in EUR 1 816 of allocations opened; 

45 

 
 
 
 
 
 
 
 
 
–  EUR 2 700 million in Intra-ACP allocations, of which EUR 2 664 million opened; 

–  EUR  683  million  as  a  reserve  for  subsequent  allocation  to  the  national  and  regional  indicative 

programmes following the mid-term and end-of-term reviews; 

–  EUR 430 million for implementation costs, all opened; 

–  EUR 256 million OCT allocations: 

• 

• 

• 

• 

A enveloppe funds for EUR 195 million, of which EUR 66 million are opened 

B enveloppe funds of EUR 15 million, of which EUR 7 million are opened  

Regional allocations funds of EUR 40 million, all are opened 

Studies/technical assistance funds of EUR 6 million, all opened. 

- 10th EDF non-mobilisable performance reserve 

Since  the  10th  EDF  came  into  force  on  1  July  2008,  the  remaining  balances  and  the  amounts 
decommitted  from  projects  under  the  9th  and  previous  EDFs  are  transferred  to  the  performance 
reserve of the 10th EDF, with the exception of Stabex funds and 9th EDF administrative envelope. 
This reserve may be used under the conditions set out in Article 1(4) of the Internal Agreement on 
the 10th EDF.  
Please find below the detail of this reserve as at 31.12.2011 (EUR million): 

Total funds transferred to the 10th EDF non-mobilisable reserve: 

minus funds transferred to the 9th EDF in favour of  Sudan, Council 

Decision 2010/406/EU of 12.07.2010 
Total available in the reserve (ACP+OCT): 

438

-150
288

Note: this reserve is to be decreased by EUR 200 million following Council Decision 2011/315/EU of 
23/05/2011 in favour of South Sudan and to be transfered to the 9th EDF 

- 10th EDF Stabex reserve 
Following  the  closure  of  Stabex  accounts,  unused/decommitted  funds  are  transferred  to  the  10th 
EDF  Stabex  A  Envelope  reserve  (10th  EDF  Internal  Agreement  Art.  1(4))  and  then  to  the  national 
indicative programmes of the countries concerned.  

- 10th EDF Co-financings 
Under  the  10th  EDF,  transfer  agreements  for  co-financings  from  Member  States  were  signed  for  
EUR 89 million and commitment appropriations were opened for a total amount of EUR 79 million, 
while payment appropriations were opened for the cashed amounts totalling EUR 73 million.  

46 

 
 
 
 
 
 
 
 
 
 
The situation of co-financing appropriations at 31.12.2011 is shown in the table below (EUR 
million):  

Co-financing - A Envelope 
Co-financing - Intra ACP 
Co-financing – Administrative 
expenses 

Commitments 
appropriations 

Payment 
appropriations 

69
12

2

83

61 
12 

2 

75 

The following tables, concerning the amounts decided, contracted and paid, show net figures.  
The tables presenting the situation by country and by instrument are annexed. 

47 

 
 
 
 
 
 
 
2.1 

ALLOCATIONS 

TABLE 1.1

INSTRUMENT

ACP
Lomé
Total indicative programmes
Interest-rate subsidies
Emergency aid
Aid for refugees
Risk capital
Stabex
Sysmin
Structural adjustment
Heavily indebted poor countries
Use of interest income
Cotonou
A envelope
B envelope
TOTAL ACP
OCT
Total indicative programmes
Interest-rate subsidies
Emergency aid
Aid for refugees
Risk capital
Stabex
Sysmin
TOTAL OCT
TOTAL 8th EDF

 8th EDF
EVOLUTION OF APPROPRIATIONS:  31 December 2011
ANALYSIS OF CREDITS PER INSTRUMENT
(EUR million)
INCREASES/DECREASES 
IN CUMULATIVE  
RESOURCES AT 
31 DECEMBER 2010

INCREASE OR 
DECREASE IN 
RESOURCES IN 2011

INITIAL 
APPROPRIATION

(EUR million)

Notes

CURRENT 
APPROPRIATION

7 562
 370
 140
 120
1 000
1 800
 575
1 400

12 967

 115
 9
 3
 1
 30
 6
 3
165
13 132

( 29)
( 9)

(1)

( 0)

(1)

( 38)

( 0)

(1)

( 0)
( 38)

5 138
 83
 136
 108
1 037
 723
 112
1 497
1 060
 37

 429
 255
10 615

 37
 1

 6
 1
 2
 48
10 663

(2 396)
( 278)
( 4)
( 11)
 37
(1 077)
( 463)
 97
1 060
 37

 429
 255
(2 314)

( 77)
( 7)
( 3)
( 1)
( 24)
( 4)
( 0)
( 116)
(2 430)

48 

(1) all decreases are decommitments transferred to the non-mobilisable performance reserve 10th EDF

 
 
 
 
 
 
TABLE 1.2

INSTRUMENT

ACP
A Envelope
B Envelope
National allocations reserve
CDE, CTA and Parliamentary Assembly
Long term development reserve
Regional allocations
Intra ACP
Implementation costs
Interests and other revenue
Administrative costs
Special allocation R.D. Congo
Special allocation Sudan
Transfers from 6th EDF - Lomé
Transfers from 7th EDF - Lomé
Voluntary contribution Peace facility
TOTAL ACP
OCT
A Envelope
B Envelope/ Use of  C reserve
Long term development reserve
Regional allocations
Technical assistance envelope
Transfers from 6th EDF - Lomé
Transfers from 7th EDF - Lomé
TOTAL OCT
TOTAL 9th EDF

9th EDF

EVOLUTION OF APPROPRIATIONS:  31 December 2011
ANALYSIS OF CREDITS PER INSTRUMENT

INITIAL 
APPROPRIATION

INCREASES/DECREASES 
IN CUMULATIVE  
RESOURCES AT 
31 DECEMBER 2010

INCREASE OR 
DECREASE IN 
RESOURCES IN 2011*

(EUR million)

Notes

CURRENT LEVEL 
APPROPRIATION

5 318
2 108
1 224
 164
 258
 904
 300
 125

10 401

 0
 0
 144
 8
 2

154
10 555

4 095
( 807)
(1 224)
 7
( 258)
 7
2 936
 0
 69
 46
 108

 24
 731
 39
5 772

 249
 7
( 144)
 41
( 1)
 0
 3
154
5 926

(1)

(1)

(1)

(1)

(2)

(2)

(1)

(1)

( 51)
( 6)

( 12)
( 6)
 3

 147
( 1)
( 4)

 70

( 0)

(1)

( 0)
70

9 363
1 294

 171
 0
 899
3 230
 128
 69
 46
 108
 147
 22
 728
 39
16 244

 249
 7

 49
 1
 0
 3
 308
16 552

(1) all decreases are decommitments transferred to the non-mobilisable performance reserve 10th EDF

(2) following Council Decision 2010/406/EU 150 million was added from non-mobilisable performance reserve 10th EDF for Sudan (147 million to special allocation Sudan and 3 million to implementation costs)

49 

 
 
 
 
 
 
TABLE 1.3

10th EDF
EVOLUTION OF APPROPRIATIONS:  31 December 2011
ANALYSIS OF CREDITS PER INSTRUMENT

INSTRUMENT

INITIAL 
APPROPRIATION

INCREASES/DECREASES 
IN CUMULATIVE  
RESOURCES AT 
31 DECEMBER 2010

INCREASE OR DECREASE 
IN RESOURCES IN 2011

Notes

CURRENT LEVEL 
APPROPRIATION

(EUR million)

ACP
A Envelope
A Envelope reserve
B Envelope
B Envelope reserve
Regional allocations
Regional allocations reserve
National Allocation Reserve Enveloppe A Stabex
NIP/RIP reserve
Intra-ACP
Intra-ACP Reserve
Implementation costs
Interests and other receipts
Cofinancing
Non-mobilisable reserve ACP
TOTAL ACP
OCT
A Envelope
A Envelope reserve
B Envelope
B Envelope reserve
Regional allocations reserve
Regional allocations
Studies/technical assistance OCT
Non-mobilisable reserve OCT
TOTAL OCT
TOTAL 10th EDF

13 500

1 800

1 783

 683

2 700
 430

20 896

 195

 15
 40

 6

256
21 152

12 378
(12 385)
1 464
(1 464)
1 816
(1 783)
 6
 0
2 330
(2 330)
 0
 32
 79
 312
 455

 0
 4
( 4)
 0
 0
 0
 7
 7
 462

(3)

(3)

(2)

(2)

(5)

(2)

(2)

(4)

(1)

(2)

(2)

(2)

(2)

(2)

(2)

(1)

 113
( 82)
 161
( 161)

( 5)

 334
( 334)
( 0)
 27
 4
( 33)
 24

 66
( 66)
 3
( 3)
( 40)
 40

 1
1
25

12 491
1 034
1 624
 176
1 816
 0
 0
 683
2 664
 36
 430
 58
 83
 280
21 375

 66
 129
 7
 8
 0
 40
 6
 8
264
21 639

(1) transfer in decommitments from projects of the 9th and previous EDF's to the non mobilisable performance reserve for 118 million less transfer out of reserves to Sudan for 150 million (to 9th EDF)

(2) transfers in / from the 10th EDF reserves

(3) transfer from National allocation reserve Env A Stabex for 31 million and from A enveloppe reserve for 82 million
(4) for the cofinancings, the table only presents  the commitment appropriations

(5) difference between transfer out to A enveloppe for 31 million and cash receipt following closure of stabex accounts (art 1.4 of 10th EDF internal agreement) for 26 Million

50 

 
 
 
 
2.2 CONSOLIDATED ACCOUNTS  

TABLE 2.1

EDF AGGREGATED ACCOUNTS AT 31.12.2011:

PROGRESS REPORT

ALLOCATION

8th EDF

9th EDF

10th EDF

(EUR million)
8th, 9th and 
10th EDF

5 175
4 767

 37

 429
 255

 753

9 611
1 301
 947
3 230
171
 108
 147
 39

 243

Programmable aid
Non-programmable aid
Transfers from other funds
Sundry revenue

A envelope
B envelope
Regional allocation
Intra ACP allocation 
CDE, CTA and Joint Assembly
Special allocation Congo, Council Dec.  2003/583/EC
Special allocation Sudan, Council Dec. 2010/406/EU
Voluntary contribution Peace facility
Co-financing (commitment credits)
Implementation costs and interest.
NIP/RIP reserve 
Regional allocations reserve
Intra-ACP reserve 
Country reserve
Stabex - NIP Reserve A Envelope
Non-mobilisable performance reserve

TOTAL

10 663

16 552

5 175
4 767
 753
 37

 0
22 598
3 188
2 804
5 894
 171
 108
 147
 39
 83
 737
 683
 0
 36
1 346
 0
 288
48 854

12 557
1 632
1 856
2 664

 83
 494
 683
 0
 36
1 346
 0
 288
21 639

Aggregate total

Annual figures

AT 31/12/11

%  of allocation

2.006  

2007

2008

2009

2010

2011

10 640
16 454
13 734
40 827

10 494
15 691
8 648
34 833

10 330
14 026
4 852
29 208

100%
99%
62%

98%
95%
40%

97%
85%
22%

( 265)
3 187

2 921

 202
2 915

3 117

 737
1 861

2 598

( 211)
3 455

3 244

 35
3 317

3 352

 483
2 294

2 777

( 53)
 775
4 766
5 488

 55
3 163
 130
3 348

 323
3 253
 90
3 666

( 42)
( 54)
3 501
3 405

( 42)
 997
3 184
4 140

 152
1 806
1 111
3 069

( 45)
( 116)
2 349
2 187

 8
 476
2 820
3 304

 158
1 304
1 772
3 233

( 60)
( 9)
3 118
3 049

( 13)
 9
2 514
2 509

 90
 906
1 879
2 874

é
m
o
L

u
o
n
o
t
o
C

FED

8 
9 
10 

8 
9 
10 

8 
9 
10 

DECISIONS

TOTAL

ASSIGNED FUNDS

TOTAL

PAYMENTS

TOTAL

* Negative figures represent decommitments

51 

 
 
 
 
 
TABLE 2.2

EDF aggregated accounts at 31.12.2011
CLASS OF AID

9th EDF

%
(1)

10th EDF

%
(1)

TOTAL

%
(1)

L
o
m
é

C
o
t
o
n
o
u

PROGRAMMABLE AID (NIP)

Appropriations

Decisions

Assigned funds

Payments

NON-PROGRAMMABLE AID

Appropriations

Decisions

Assigned funds

Payments

TRANSFERS FROM OTHER FUNDS

Appropriations

Decisions

Assigned funds

Payments

SUNDRY REVENUE

Appropriations

Decisions

Assigned funds

Payments

TOTAL

Appropriations

Decisions

Assigned funds

Payments

A envelope

Appropriations

Decisions

Assigned funds

Payments

B envelope 

Appropriations

Decisions

Assigned funds

Payments

CDE, CTA and Joint Assembly

Appropriations

Decisions

Assigned funds

Payments

Regional allocation

Appropriations

Decisions

Assigned funds

Payments

Intra-ACP allocation 

Appropriations

Decisions

Assigned funds

Payments

Voluntary contribution Peace Facility

Appropriations

Decisions

Assigned funds

Payments

Special allocation Congo Council Dec.2003/583/EC

Appropriations

Decisions

Assigned funds

Payments

Special allocation Sudan Council Dec.2010/406/EU

Appropriations

Decisions

Assigned funds

Payments

Implementation costs and interest

Appropriations

Decisions

Assigned funds

Payments

TOTAL

Appropriations

Decisions

Assigned funds

Payments

NIP/RIP RESERVE 
REGIONAL ALLOCATIONS RESERVE

INTRA-ACP RESERVE 

Stabex - NIP Reserve A Envelope
COUNTRIES RESERVE

Co-financing

Appropriations

Decisions

Assigned funds

Payments

Non-mobilisable performance reserve

TOTAL

Appropriations

Decisions

Assigned funds
Payments

(1)  %  of appropriations

8th EDF

%
(1)

100%

98%

96%

100%

99%

98%

96%

96%

94%

100%

99%

97%

100%

98%

97%

99%

90%

80%

5 175

5 166

5 066

4 981

4 767

4 756

4 742

4 693

 37

 36

 36

 35

9 979

9 958

9 843

9 708

 429

 429

 421

 417

 255

 252

 229

 204

 684

 682

 651

 621

100%

95%

91%

 753

 751

100%

 709

 654

94%

87%

 753

 751

100%

 709

 654

94%

87%

99%

96%

88%

9 611

9 546

9 181

8 448

1 301

1 301

100%

1 261

1 150

97%

88%

 171

 169

 159

 154

 947

 941

 888

 673

99%

93%

90%

99%

94%

71%

3 230

3 227

100%

3 117

2 590

97%

80%

100%

95%

62%

97%

97%

97%

 39

 39

 37

 24

 108

 105

 105

 105

 147

 137

93%

 0

 0

0%

0%

 243

 238

 233

 227

15 799

15 702

14 982

13 372

98%

96%

94%

99%

95%

85%

10 663

10 640

10 494
10 330

100%

98%
97%

16 552

16 454

15 691
14 026

99%

95%
85%

52 

5 175

5 166

100%

5 066

4 981

98%

96%

4 767

4 756

100%

4 742

4 693

99%

98%

 753

 751

100%

 709

 654

94%

87%

 37

 36

 36

 35

96%

96%

94%

10 733

10 709

100%

10 552

10 363

98%

97%

22 598

19 251

15 237

11 644

3 188

2 742

2 497

2 209

 171

 169

 159

 154

2 804

1 520

1 133

 765

5 894

5 377

4 555

3 441

 39

 39

 37

 24

 108

 105

 105

 105

 147

85%

67%

52%

86%

78%

69%

99%

93%

90%

54%

40%

27%

91%

77%

58%

100%

95%

62%

97%

97%

97%

 137

93%

 0

 0

0%

0%

95%

72%

68%

84%

68%

53%

 737

 700

 530

 501

35 686

30 040

24 253

18 843

 683
0

 36

1 346

 83

 78

 28

 3

 288

95%

4%

0%

48 854

40 827

34 833
29 208

84%

71%
60%

12 557

9 276

5 635

2 778

1 632

1 188

1 006

 855

1 856

 579

 245

 92

2 664

2 150

1 438

 850

 494

 462

 297

 274

19 203

13 656

8 620

4 849

 683
 0

 36

 0
1 346

 83

 78

 28

 3

 288

21 639

13 734

8 648
4 852

74%

45%

22%

73%

62%

52%

31%

13%

5%

81%

54%

32%

93%

60%

55%

71%

45%

25%

95%

34%

3%

63%

40%
22%

 
 
 
 
TABLE 2.3

Total indicative programmes

ACP

Total non-programmable aid
Interest-rate subsidies
Emergency aid
Aid for refugees
Risk capital
Stabex
Sysmin
Structural adjustment
Heavily indebted poor countries
Utilisation of interest income

TOTAL

A Envelope 

B Envelope

TOTAL

L
o
m
é

C
o
t
o
n
o
u

EDF AGGREGATED ACCOUNTS AT 31.12.2011:
ANALYSIS BY INSTRUMENT

       ACP + OCT  - 8th EDF

APPROPRIATIONS

(1)

AGG. TOTAL
(2)

DECISIONS 

ANNUAL

%
 (2) : (1)

AGG. TOTAL.
(3)

ANNUAL

%
 (3) : (2)

AGG. TOTAL 
(4)

ASSIGNED FUNDS

PAYMENTS
ANNUAL

(EUR million)

%
 (4) : (3)

5 138

4 793
83
136
108
1 037
723
112
1 497
1 060
37

9 931

 429

 255

 684

5 129

4 781
83
136
108
1 037
722
102
1 497
1 060
36

9 910

 429

 252

( 35)

100%

( 22)
( 9)

( 1)

( 1)
( 10)

( 1)

( 57)

100%
100%
100%
100%
100%
100%
91%
100%
100%
96%

100%

100%

( 2)

99%

5 031

4 766
83
136
106
1 029
719
101
1 497
1 060
36

9 797

 421

 229

( 23)

( 18)
( 8)

( 1)
0
1
( 9)

( 1)

( 41)

( 2)

 30

98%

100%
99%
100%
98%
99%
99%
98%
100%
100%
98%

99%

99%

78%

4 945

4 717
68
136
100
1 010
711
101
1 497
1 060
35

9 662

 417

 204

98%

99%
82%
100%
94%
98%
99%
100%
100%
100%
98%

99%

99%

36

23

( 1)
19
4
0

0

 58

 1

 30

 682

( 2)

199%

 651

 28

177%

 621

 31

99%

TOTAL ACP             (a)

10 615

10 591

( 59)

100%

10 448

( 13)

99%

10 284

90

98%

Total indicative programmes

OCT

Total non-programmable aid
Interest-rate subsidies
Emergency aid
Aid for refugees
Risk capital
Stabex
Sysmin
TOTAL OCT         (b)

37

11
1

6
1
2
48

37

11
1

6
1
2
48

( 0)

100%

0

100%
100%

100%
100%
100%
100%

( 0)

35

11
1

6
1
2
46

( 0)

0

0
0

93%

100%
100%

100%
100%
99%
95%

35

11
1

6
1
2
46

0

0

0
0

100%

100%
100%

100%
100%
99%
100%

TOTAL             (a) + (b) 

10 663

10 640

( 60)

100%

10 494

( 13)

99%

10 330

 90

98%

53 

 
 
 
TABLE 2.4

EDF AGGREGATED ACCOUNTS AT 31.12.2011:
ANALYSIS BY INSTRUMENT

       ACP + OCT  - 9th EDF

APPROPRIATIONS

(1)

AGG. TOTAL
(2)

DECISIONS 

ANNUAL

%
 (2) : (1)

ASSIGNED FUNDS
ANNUAL

AGG. TOTAL.
(3)

%
 (3) : (2)

AGG. TOTAL 
(4)

(EUR million)

PAYMENTS

ANNUAL

%
 (4) : (3)

ACP

A Envelope
Macroeconomic support
Sectorial Policies
B Envelope
Compensation export receipts
Emergency aid
Heavily indebted poor countries
Regional allocation
Intra-ACP allocation
Other
Implementation costs/Administrative expenditu
Interests and other revenue
Special allocation Congo
Special allocation Sudan
Voluntary contribution Peace Facility
Transfers from 6th EDF - Lomé
Transfers from 7th EDF - Lomé

9 363

1 294

899
3 230
171
173
69
108
147
39
22
728

9 297
2 271
7 026
1 294
170
1 113
11
893
3 227
169
170
67
105
137
39
22
726

TOTAL ACP             (a)

16 244

16 146

OCT

A Envelope
Macroeconomic support
Sectorial Policies
B Envelope
Regional allocation
Studies/Technical assistance
Transfers from 6th EDF - Lomé
Transfers from 7th EDF - Lomé
TOTAL OCT         (b)

249

7
49
1
0
3
308

248
15
234
7
49
1
0
3
308

( 101)
( 9)
( 92)
( 7)
( 0)
( 6)

( 14)
( 9)
( 2)
( 0)
( 2)
( 3)
137

( 1)
( 5)

( 8)

( 0)

( 0)
0
( 0)

0
( 0)

99%

100%

99%
100%
99%
98%
97%
97%
93%
100%
97%
100%

99%

100%

100%
100%
100%
100%
100%
100%

8 939
2 243
6 696
1 257
161
1 084
11
841
3 117
159
169
64
105
0
37
21
685

( 40)
( 15)
( 25)
3
0
2

9
35
( 7)
0
( 1)
( 0)
0

( 0)
( 13)

96%

97%

94%
97%
94%
99%
95%
100%
0%
95%
94%
94%

8 250
2 188
6 063
1 146
143
992
11
636
2 590
154
164
63
105
0
24
19
632

522
50
472
74
14
60

72
207
1
1
1

0

( 1)

92%

91%

76%
83%
97%
97%
98%
100%
0%
65%
93%
92%

15 394

( 15)

95%

13 783

 877

90%

241
14
228
4
47
1
0
3
297

26
0
26
( 2)
( 0)

( 0)
24

97%

64%
97%
100%
100%
99%
96%

198
9
189
4
37
1
0
3
243

21
1
20
( 2)
10

29

82%

100%
78%
100%
100%
100%
82%

TOTAL             (a) + (b) 

16 552

16 454

( 9)

99%

15 691

 9

95%

14 026

 906

89%

54 

 
 
 
 
TABLE 2.5

EDF AGGREGATED ACCOUNTS AT 31.12.2011:

ANALYSIS BY INSTRUMENT

       ACP + OCT - 10th FED

(EUR million)

APPROPRIATIONS

(1)

DECISIONS 

AGG. TOTAL
(2)

ANNUAL

%
  (2) : (1)

ASSIGNED FUNDS

AGG. TOTAL. ANNUAL

(3)

%
 (3) : (2)

AGG. TOTAL  ANNUAL

PAYMENTS

(4)

%
  (4) : (3)

ACP

A Envelope 
B Envelope 
Compensation export receipts
Emergency aid
Heavily indebted poor countries
Other chocs with budgetary impact
Regional Allocation
Intra-ACP Allocation 
Institutional and support costs
Peace Facility
Various intra ACP, other sectors programmed
Implementation costs
Interest and other revenue

TOTAL

COUNTRIES RESERVE  - COTONOU
NIP/RIP RESERVE
Stabex - NIP Reserve A Envelope
REGIONAL ALLOCATIONS RESERVE
INTRA-ACP RESERVE

Cofinancing Enveloppe A
Cofinancing Intra ACP
Cofinancement administrative expenditure
TOTAL Cofinancing

12 491
1 624

1 816
2 664
300
600
1 764
430
58
19 084

1 209
683
0

36

69
12
2
83

9 210
1 181
68
467
49
598
579
2 150
195
1 355
600
427
32
13 578

1 794
 183
 3
 143
( 1)
 37
 218
 591
 35
 255
 300
 237
 8
3 030

74%
73%

32%
81%
65%
226%
34%
99%
54%
71%

5 635
1 002
43
351
49
559
245
1 438
176
965
297
267
28
8 614

1 347
173
4
83
0
87
152
732
48
536
147
84
6
2 495

64
12
2
78

 4
 12
 1
 16

94%
100%
96%
95%

16
12

28

2
11

14

TOTAL ACP

21 095

13 657

3 046

65%

8 642

2 509

Non-mobilisable performance reserve ACP

280

61%
85%

42%
67%
90%
71%
49%
63%
87%
0

99%

36%

63%

2 778
855
34
279
46
495
92
850
119
479
252
256
17
4 848

1 131
 177
 4
 100
 12
 61
 82
 396
 42
 215
 139
 85
 5
1 876

0
2

3

 0
 2

 2

4 850

1 878

49%
85%
78%
80%
95%
88%
37%
59%
68%
50%
85%
96%
61%
56%

19%

10%

56%

TOTAL ACP + performance reserve (a)

21 375

13 657

3 046

64%

8 642

2 509

63%

4 850

1 878

56%

OCT

A Envelope
B Envelope
Compensation export receipts
Emergency aid
Heavily indebted poor countries
Other chocs with budgetary impact
Regional Allocation
Studies / Technical assistance OCT

TOTAL

COUNTRIES RESERVE
REGIONAL ALLOCATIONS RESERVE
NIP/RIP RESERVE 

TOTAL OCT        

Non-drawable performance reserve OCT

TOTAL OCT + performance reserve (b)

 66
7

40
6
119

137
0

256

8

 264

 66
7

7

4
77

 66
 3

 3

100%

 2
 71

67%
65%

77

 71

30%

 77

 71

29%

4

4

2
6

6

 6

4

4

0
5

54%
8%

5

8%

1
1

1

 5

8%

 1

 1
 1

 1

 1

TOTAL             (a) + (b) 

21 639

13 734

3 118

63%

8 648

2 514

63%

4 852

1 879

65%
22%

22%

22%

56%

55 

 
 
 
 
 
2.3. 

OTHER MANAGEMENT INFORMATION 

Italian co-financing (1985) 
In  1985  the  European  Commission  signed  an  agreement  with  the  Italian  Government 
providing for the co-financing of development projects managed by the Commission. 

The  agreement  was  regularly  extended  by  means  of  exchanges  of  letters  between  the 
Italian Government and the Development Commissioner until 31 December 2004. 

Then  by  written  procedure  E/1588/2004  the  Commission  took  a  decision  on 
implementation  of  the  co-financing  framework  agreement.  The  purpose  of  the  decision 
was to lay down the budgetary and regulatory framework for commitments made under 
the  agreement.  The  Commission  decision  accordingly  provided  that  this  co-financing 
should be implemented in accordance with the provisions of the EDF Financial Regulation. 
The  decision  empowered  the  EDF  authorising  officers  by  delegation  or  subdelegation  to 
manage Italy's contribution to this co-financing. They were also empowered to determine 
the final date for its implementation in compliance with the relevant rules. 

In accordance with Article 4, point 4 of the July 1985 agreement between the European 
Commission  and  the  Italian  Government,  a  provision  confirmed  in  Article  3,  point  3  of 
decision E/1588/2004, the Italian Government requested by letter of 15 December 2006 
that  the  Commission  repay  the  account  balances  of the  closed  projects. These balances 
then totalled EUR 4 708 867.66. This amount was reimbursed to the Italian Government 
in March 2008. 

The  situation  of  the  Italian  funds  managed  by  the  Commission  for  projects  in  the  ACP 
countries, at 31.12.2011, is presented below. 

In all, 52 projects implemented in the ACP countries have been co-financed by Italy since 
the signing of the above agreement, only one of which, '4th rehabilitation programme – 
Somalia', is still in progress and is managed by the EU delegation in Kenya, bank balance 
for each individual item are: 

Project N°   Country 

Project 

Balance (EUR)  Balance (EUR) 

ITA 
COF 
ITA 
COF 
ITA 
COF 

37 

40 

Interest from co-
financing 
Administrative 
expenditure 

31/12/2010 

31/12/2011 

317 230.20

320 646.67 

408 990.37

410 580.63 

50  SOMALIE  Rehabilitation 

6 722 163.55

5 452 595.91 

TOTAL     

7 429 706.86

6 183 823.21 

56 

 
 
 
 
 
 
 
 
 
  
  
  
  
 
 
  
 
 
PART  II  –  EDF  ANNUAL  ACCOUNTS:  FINANCIAL  STATEMENTS  OF  THE 

INVESTMENT FACILITY 

57 

 
 
 
EUROPEAN INVESTMENT BANK 

CA/454/12 

15 March 2012 

Document 12/069 

Audited by KPMG 

B O A R D   O F   D I R E C T O R S  

I NV ES T ME N T  F A C IL I T Y  

FINANCIAL STATEMENTS 

AS AT 31 DECEMBER 2011 

−  Statement of financial position 

−  Statement of comprehensive income 

−  Statement of changes in contributors’ 

resources 

−  Statement of cash flows 

−  Notes to the financial statements 

− 

Independent auditor’s report 

ORG.: E 

58 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3. 

FINANCIAL STATEMENTS OF THE INVESTMENT FACILITY 

3.1 

STATEMENT  OF  COMPREHENSIVE  INCOME  FOR  THE  YEAR  ENDED 
31 DECEMBER 2011 

(In EUR’000) 

Notes 

From 01.01.2011 
to 31.12.2011 

From 01.01.2010
to 31.12.2010

Interest and similar income 

Interest and similar expense   

Net interest and similar income 

Fee and commission income 

Fee and commission expenses 

Net fee and commission income 

Net result on financial operations 

Change in impairment on loans and receivables, net of 
reversal 

Impairment on available-for-sale financial assets 

General administrative expenses 

16 

16 

17 

17 

18 

7 

8 

19 

59 561 

-940 

54 601 

-2 591 

58 621 

52 010

2 149 

-144 

11 775 

-372 

2 005 

11 403

18 070 

-15 823 

27 452 

-6 888 

25 428 

-3 714 

-38 006 

-34 086 

Profit for the year 

61 254 

35 218

Other comprehensive income: 

Available-for-sale financial assets – Fair value reserve 
1. Net change in fair value of available-for-sale 
financial assets 
2. Net amount transferred to profit or loss 

Total available-for-sale financial assets 

20 574 

-3 394 

17 180 

2 962 

1 898 

4 860

Total other comprehensive income 

17 180 

4 860

Total comprehensive income for the year 

78 434 

40 078

59 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3.2 

STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2011 

(In EUR’000) 

ASSETS 

Cash and cash equivalents 

Derivative financial instruments 

Loans and receivables 

Available-for-sale financial assets 

Amounts receivable from contributors 

Other assets 

Total Assets 

LIABILITIES AND CONTRIBUTORS' 
RESOURCES 

LIABILITIES 

Derivative financial instruments 

Deferred income 

Amounts owed to third parties 

Other liabilities 

Notes 

31.12.2011

31.12.2010 

31.12.2009

5 

6 

7 

8 

9/14 

10 

452 279 

411 587 

330 057 

434 

1 033 160 

251 660 

87 310 

416 

1 376 

844 428 

194 828 

100 000 

3 172 

12 870 

693 441 

164 606 

87 310 

925 

1 825 259

1 555 391 

1 289 209

6 

11 

12 

13 

12 702 

33 003 

6 110 

29 579 

5 522 

24 317 

329 660 

298 415 

213 850 

1 113 

 940 

1 560 

Total Liabilities 

376 478

335 044 

245 249

CONTRIBUTORS' RESOURCES 

Member States Contribution called 

14 

1 281 309 

1 131 309 

995 000 

Fair value reserve  

Retained earnings 

41 750 

125 722 

24 570 

64 468 

19 710 

29 250 

Total Contributors' resources 

1 448 781

1 220 347 

1 043 960

Total Liabilities and Contributors' 
resources 

1 825 259

1 555 391 

1 289 209

60 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
3.3 

STATEMENT OF CHANGES IN CONTRIBUTORS' RESOURCES 

(In EUR’000) 

At 1 January 2011 

Contribution 
called

Fair Value 
Reserve  

Retained 
earnings 

Total 

1 131 309

24 570 

64 468

1 220 347

Member States contribution called during the year 

150 000

Profit for the year 2011 

Total other comprehensive income for the year 

-

-

- 

- 

-

150 000

61 254

61 254

17 180 

-

17 180

Changes in contributors’ resources 

150 000

17 180 

61 254

228 434

At 31 December 2011 

1 281 309

41 750 

125 722

1 448 781

At 1 January 2010 

Member States contribution called during the year 

Unused interest subsidies 

Profit for the year 2010 

Total other comprehensive income for the year 

Contribution 
called

Fair Value 
Reserve 

Retained 
earnings

Total 

995 000

19 710 

29 250

1 043 960

130 000

6 309

-

-

- 

- 

- 

-

-

35 218

130 000

6 309

35 218

4 860 

-

4 860

Changes in contributors’ resources 

136 309

4 860 

35 218

176 387

At 31 December 2010 

1 131 309

 24 570 

64 468

1 220 347

61 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3.4 

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2011 

OPERATING ACTIVITIES 

Profit for the financial year 

Adjustments 

Impairment on available-for-sale financial assets 

Net change in impairment on loans and receivables 

Interest capitalised on loans and receivables 
Change in accrued interest and amortised cost on loans and 

receivables 

Increase in deferred income 

From 
01.01.2011 
to 
31.12.2011 

From 
01.01.2010 
to 
31.12.2010

61 254 

35 218

3 172 

-27 452 

-10 512 

-2 801 

3 424 

3 714

-25 428

-13 239

-466

5 262

Effect of exchange rate changes on loans 
Effect of exchange rate changes on available-for-sale financial 

assets 
Profit on operating activities before changes in operating assets and 
liabilities 

-15 337 

-24 626

34 

-538

11 782 

-20 103

Loan disbursements 

Repayments of loans 

Fair value changes on derivatives 

Increase in available-for-sale financial assets 

Sale of available-for-sale financial assets 

Decrease/increase in other assets 

Increase/decrease in other liabilities 
Increase/decrease in other amounts payable to the European 
Investment Bank 

-237 040 

-206 952

104 410 

7 534 

-67 829 

24 971 

2 756 

173 

119 724

12 082

-50 952

22 414

-2 247

-620

4 144 

-2 324

Net cash flows from operating activities 

-149 099 

-128 978

FINANCING ACTIVITIES 

Contribution received from Member States 
Amounts received from Member States with regard to interest 
subsidies 
Amounts paid on behalf of Member States with regard to interest 
subsidies 

136 345 

187 310

76 345 

40 000

-22 899 

-16 802

Net cash flows from financing activities 

189 791 

210 508

Net increase in cash and cash equivalents 

Cash and cash equivalents at beginning of financial year 

40 692 

411 587 

81 530

330 057

Cash and cash equivalents at the end of the financial year 

452 279 

411 587

62 

 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3.5 

NOTES TO THE FINANCIAL STATEMENTS 

1  General information 

The  Investment  Facility  (“the  Facility”  or  “IF”)  has  been  established  within  the  framework  of  the 
Cotonou  Agreement  (the  “Agreement”)  on  co-operation  and  development  assistance  negotiated 
between  the  African,  Caribbean  and  Pacific  Group  of  States  (the  “ACP  States”)  and  the  European 
Union and its Member States on 23 June 2000, revised on 25 June 2005 and 23 June 2010. 

Financing  under  the  Agreement  is  provided  from  EU  Member  States’  budgets  and  is  disbursed 
according  to  financial  protocols  defined  for  successive  five-  to  six-year  periods.  Within  the 
framework of the Agreement and following the entry into force of a second financial protocol on 1st 
July  2008  (covering  the  period  2008-2013),  referred  to  as  the  10th  European  Development  Fund 
(“EDF”),  the  European  Investment  Bank  (“EIB”  or  “the  Bank”)  is  entrusted  with  the  management 
of: 

- 

- 

the Facility, a EUR 3 185.5 million  risk-bearing revolving fund geared to fostering private 
sector  investment  in  ACP  countries  of  which  EUR  48.5  million  are  allocated  to  Overseas 
Countries and territories (“OCT countries”); 
grants for the financing of interest rate subsidies worth EUR 400 million for ACP countries 
and EUR 1.5 million for OCT countries. Up to 10% of these subsidies can be used to fund 
project-related technical assistance. 

On a proposal from the Management Committee of EIB, the Board of Directors of EIB adopted the 
Financial Statements on 15 March 2012 and authorised their submission to the Board of Governors 
for approval by 30 April 2012. 

2  Significant accounting policies 

2.1 Basis of preparation – Statement of compliance 

In 2011, the Facility applied International Financial Reporting Standards (IFRS) as adopted by the 
European  Union  for  the  preparation  of  its  financial  statements  and  this  adoption  was  done 
according to IFRS 1 “First-time Adoption of IFRS” using 1 January 2011 as the transition date. 

2.2 Significant accounting judgments and estimates 

The  preparation  of  financial  statements  requires  the  use  of  accounting  estimates.  It  also  requires 
the European Investment  Bank’s Management to exercise its judgment in the process of applying 
the  Investment  Facility’s  accounting  policies.  The  areas  involving  a  higher  degree  of  judgment  or 
complexity,  or  areas  where  assumptions  and  estimates  are  significant  to  the  financial  statements 
are disclosed hereafter. 
The most significant use of judgments and estimates are as follows: 

(cid:131) 

Fair value of financial instruments 

Where  the  fair  values  of  financial  assets  and  financial  liabilities  recorded  on  the  statement  of 
financial  position  cannot  be  derived  from  active  markets,  they  are  determined  using  a  variety  of 
valuation  techniques  that  include  the  use  of  mathematical  models.  The  input  to  these  models  is 
taken  from  observable  markets  where  possible,  but  where  this  is  not  feasible,  a  degree  of 
judgment  is  required  in  establishing  fair  values.  The  judgments  include  considerations  of  liquidity 
and model inputs such as correlation and volatility for derivatives with maturity of more than three 
months. 

(cid:131) 

Impairment losses on loans and receivables 

The Facility reviews its problem loans and receivables at each reporting date to assess whether an 
allowance  for  impairment  should  be  recorded  in  the  statement  of  comprehensive  income.  In 
particular, judgment by the European Investment Bank’s Management is required in the estimation 
of  the  amount  and  timing  of  future  cash  flows  when  determining  the  level  of  allowance  required. 
Such estimates are based on assumptions about a number of factors and actual results may differ, 
resulting  in  future  changes  to  the  allowance.  In  addition  to  specific  allowance  against  individually 

63 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
significant  loans  and  receivables,  the  Facility  may  also  book  a  collective  impairment  allowance 
against exposures which, although not specifically identified as requiring a specific allowance, have 
a greater risk of default than when originally granted. 

In principle, a loan is considered as impaired when payment of interest and principal are past due 
by  90  days  or  more  and,  at  the  same  time,  the  European  Investment  Bank’s  Management 
considers that there is an objective indication of impairment. 

(cid:131) 

Valuation of unquoted available-for-sale equity investments 

Valuation  of  unquoted  available-for-sale  equity  investments  is  normally  based  on  one  of  the 
following:  

- 
- 
- 

- 

recent arms length market transactions;  
current fair value of another instrument that is substantially the same;  
the expected cash flows discounted at current rates applicable for items with similar terms 
and risk characteristics; or  
other valuation models. 

The  determination  of  the  cash  flows  and  discount  factors  for  unquoted  available-for-sale  equity 
investments  requires  significant  estimation.  The  Facility  calibrates  the  valuation  techniques 
periodically  and  tests  them  for  validity  using  either  price  from  observable  current  market 
transactions in the same instrument or from other available observable market data. 

(cid:131) 

Impairment of available-for-sale financial assets 

The  Facility  treats  available-for-sale  equity  investments  as  impaired  when  there  has  been  a 
significant or prolonged decline in the fair value below its cost or where other objective evidence of 
impairment  exists.  The  determination  of  what  is  “significant”  or  “prolonged”  requires  judgment. 
The Facility treats “significant” generally as 30% or more and “prolonged” greater than 12 months. 
In addition, the Facility evaluates other factors, including normal volatility in share price for quoted 
equities and the future cash flows and the discount factors for unquoted equities. 

2.3 Change in accounting policies 

For the preparation of its Financial Statements as at 31 December 2011, the Facility has changed 
its accounting policies from accounting policies guided by IFRS as adopted by the European Union 
to accounting policies based on IFRS as adopted by the European Union. The management of EIB 
believes  that  this  accounting  policy  change  will  provide  more  relevant  information  about  the 
Facility’s transactions and financial situation. The change of accounting policies does not have any 
effects  on  the  Facility’s  statement  of  financial  position,  statement  of  comprehensive  income, 
statement of changes in contributors’ resources or statement of cash flows. Changes only affect the 
Risk  Management  note  to  the  financial  statements  prepared  in  accordance  with  IFRS  7 as  well  as 
fair value disclosures for financial instruments in accordance with IFRS 7. 

A number of new applicable standards, amendments to standards and interpretations are effective 
for  annual  periods  beginning  after  1 January  2012, and  have not  been  applied in  preparing  these 
financial statements. 

IFRS 9 Financial instruments 
The  first  step  in  a  three  part  project  by  the  IASB  to  replace  IAS  39  Financial  instruments,  this 
standard redefines the categories of financial assets and liabilities and their accounting treatment. 
The  standard  remains  ‘work  in  progress’  and  it  will  eventually  replace  IAS39  in  its  entirety.  The 
current effective date for  adoption of the latest revision of the standard is 1  January 2013 with a 
proposed effective date of 1 January 2015. The Facility does not plan to adopt this standard early 
and the extent of the impact has not yet been determined. 

The following two applicable standards were issued in 2011, all with an effective date of 1 January 
2013. The impact of the adoption of these standards on the Facility’s financial statements has not 
yet been determined. 

IFRS 12 Disclosure of interests in other entities 
The  objective  of  this  standard  is  to  require  the  disclosure  of  information  that  enables  users  of 
financial  statements  to  evaluate  the  nature  of,  and  risks  associated  with,  its  interests  in  other 

64 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
entities  and the  effects  of  those  interests  on  its  financial  position,  financial  performance  and  cash 
flows. 

IFRS 13 Fair value measurement 
This  standard  defines  fair  value,  sets  out  a  framework  for  measuring  fair  value  and  requires 
disclosures about fair value measurements. 

2.4 Summary of significant accounting policies 

2.4.1  Foreign currency translation 

The Facility uses the Euro (EUR) for presenting its financial statements, which is also the functional 
currency.  

Foreign  currency  transactions  are  translated,  at  the  exchange  rate  prevailing  on  the  date  of  the 
transaction.  

Monetary assets and liabilities denominated in currencies other than Euro are translated into Euro 
at  the  exchange  rate  prevailing  at  the  balance  sheet  date.  The  gain  or  loss  arising  from  such 
translation is recorded in the statement of comprehensive income. 

Non-monetary  items  that  are  measured  in  terms  of  historical  cost  in  a  foreign  currency  are 
translated  using  the  exchange  rates  at  the  dates  of  the  initial  transactions.  Non-monetary  items 
measured  at  fair  value  in  a  foreign  currency  are  translated  using  the  exchange  rates  at  the  date 
when the fair value was determined. 

Exchange differences arising on the settlement of transactions at rates different from those at the 
date of the transaction, and unrealised foreign exchange differences on unsettled foreign currency 
monetary assets and liabilities, are recognised in the statement of comprehensive income. 

The  elements  of  the  statement  of  comprehensive  income  are  translated  into  Euro  on  the  basis  of 
the exchange rates prevailing at the end of each month. 

2.4.2  Cash and cash equivalents 

The  Facility  defines  cash  and  cash  equivalents  as  current  accounts,  short-term  deposits  or 
commercial papers with original maturities of three months or less. 

2.4.3  Financial assets other than derivatives 

Financial assets are accounted for using the settlement date basis. 

(cid:131) 

Loans 

Loans originated by the Facility are recognised in the assets of the Facility when cash is advanced 
to borrowers. They are initially recorded at cost (net disbursed amounts), which is the fair value of 
the  cash  given  to  originate  the  loan,  including  any  transaction  costs,  and  are  subsequently 
measured at amortised cost, using the effective yield method, less any provision for impairment or 
uncollectability. 

(cid:131) 

Available-for-sale financial assets 

Available-for-sale  financial  assets  are  those  which  are  designated  as  such  or  do  not  qualify  to  be 
classified  as  designated  at  fair  value  through  profit  or  loss,  held-to-maturity  or  loans  and 
receivables. They include equity instruments and investments in venture capital funds. 

After initial measurement, available-for-sale financial assets are subsequently carried at fair value. 
Note  the  following  details  for  the  fair value  measurement  of  equity investments,  which  cannot  be 
derived from active markets: 

a.  Venture capital funds 

65 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The fair value of each venture capital fund is based on the latest available Net Asset Value (NAV), 
reported by the fund, if calculated based on international valuation guidelines recognised to be in 
line  with  IFRS  (for  example:  the  International  Private  Equity  and  Venture  Capital  Valuation 
guidelines, IPEV Guidelines, as published by the European Venture Capital Association). The Facility 
may however decide to adjust the NAV reported by the fund if there are issues that may affect the 
valuation. 

b.  Direct equity investments 
The  fair  value  of  the  investment  is  based  on  the  latest  set  of  financial  statements  available,  re-
using, if applicable, the same model as the one used at the acquisition of the participation. 

Unrealised  gains  or  losses  on  venture  capital  funds  and  direct  equity  investments  are  reported  in 
contributors’  resources  until  such  investments  are  sold,  collected  or  disposed  of,  or  until  such 
investments are determined to be impaired. If an available-for-sale investment is determined to be 
impaired, the cumulative unrealised gain or loss previously recognised in equity is included in the 
statement of comprehensive income. 

For unquoted investment, the fair value is determined by applying recognised valuation techniques 
(for example discounted cash flows or multiple). These investments are accounted for at cost when 
the fair value cannot be reliably measured. 

The  participations  acquired  by  the  Facility  typically  represent  investments  in  private  equity  or 
venture  capital  funds. According  to  industry  practice,  such  investments  are  generally investments 
jointly subscribed by a number of investors, none of whom is in a position to individually influence 
the daily operations and the investment activity of such fund. As a consequence, any membership 
by  an  investor  in  a  governing  body  of  such  fund  does  not  in  principle  entitle  such  investor  to 
influence the day-to-day operations of the fund. In addition, individual investors in a private equity 
or  a  venture  capital  fund  do  not  determine  policies  of  a  fund  such  as  distribution  policies  on 
dividends  or  other  distributions.  Such  decisions  are  typically  taken  by  the  management  of  a  fund 
on  the  basis  of  the  shareholders  agreement  governing  the  rights  and  obligations  of  the 
management  and  all  shareholders  of  the  fund.  The  shareholders’  agreement  also  generally 
prevents  individual  investors  from  bilaterally  executing  material  transactions  with  the  fund, 
interchanging  managerial  personnel  or  obtaining  privileged  access  to  essential  technical 
information. The Facility’s investments are executed in line with the above stated industry practice, 
ensuring that the Facility neither controls nor exercises any form of significant influence within the 
meaning of IAS 27 and IAS 28 over any of these investments, including those investments in which 
the Facility holds over 20 % of the voting rights. 

(cid:131) 

Guarantees 

At initial recognition, the financial guarantees are recognised at fair value corresponding to the Net 
Present Value (NPV) of expected premium inflows. This calculation is performed at the starting date 
of  each  transaction  and  is  recognised  on  balance  sheet  as  “Financial  guarantees”  under  “other 
assets” and “other liabilities”.  

Subsequent  to  initial  recognition,  the  Facility’s  liabilities  under  such  guarantees  are  measured  at 
the higher of:  

- 

- 

the  best  estimate  of  expenditure  required  to  settle  any  financial  obligation  arising  as  a 
result  of  the  guarantee,  which  is  estimated  based  on  all  relevant  factors  and  information 
existing at the date of the statement of financial position. 
the  amount  initially  recognised  less  cumulative  amortisation.  The  amortisation  of  the 
amount initially recognised is done using the actuarial method. 

Any increase or decrease in the liability relating to financial guarantees is taken to the statement of 
comprehensive income under “fee and commission income”.  

The Facility’s assets under such guarantee are subsequently amortized using the actuarial method 
and tested for impairment. 

In addition, when a guarantee agreement is signed, it is presented as a contingent liability for the 
Facility and when the guarantee is engaged, as a commitment for the Facility. 

66 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
2.4.4  Impairment of financial assets 

The  Facility  assesses  at  each  balance  sheet  date  whether  there  is  any  objective  evidence  that  a 
financial asset is impaired. A financial asset or a group of financial assets is deemed to be impaired 
if, and only if, there is objective evidence of impairment as a result of one or more events that has 
occurred after the initial recognition of the asset (an incurred “loss event”) and that loss event has 
an impact on the estimated future cash flows of the financial asset or the group of financial assets 
that can be reliably estimated. Evidence of impairment may include indications that the borrower or 
a  group  of  borrowers  is  experiencing  significant  financial  difficulty,  default  or  delinquency  in 
interest or principal payments, the probability that they will enter into bankruptcy or other financial 
reorganisation  and  where  observable  data  indicate  that  there  is  a  measurable  decrease  in  the 
estimated future cash flows, such as changes in arrears or economic conditions that correlate with 
defaults. 

For  the  loans  outstanding  at  the  end  of  the  financial  year  and  carried  at  amortised  cost, 
impairments are made when presenting objective evidence of risks of non recovery of all or part of 
their  amounts  according  to  the  original  contractual  terms  or  the  equivalent  value.  If  there  is 
objective evidence that an impairment loss has been incurred, the amount of the loss is measured 
as  the  difference  between  the  assets  carrying  amount  and  the  present  value  of  estimated  future 
cash flows. The carrying amount of the asset is reduced through the use of an allowance account 
and  the  amount  of  the  loss  is  recognised  in  the  statement  of  comprehensive  income.  Interest 
income  continues  to  be  accrued  on  the  reduced  carrying  amount  based  on  the  effective  interest 
rate  of  the  asset.  Loans  together  with  the  associated  allowance  are  written  off  when  there  is  no 
realistic  prospect  of  future  recovery.  If,  in  a  subsequent  year,  the  amount  of  the  estimated 
impairment  loss  increases  or  decreases  because  of  an  event  occurring  after  the  impairment  was 
recognised,  the  previously  recognised  impairment  loss  is  increased  or  reduced  by  adjusting  the 
allowance account. 

The Facility conducts the credit risk assessments based on each individual operation and does not 
consider a collective impairment. 

For the available-for-sale financial assets, the Facility assesses at each balance sheet date whether 
there  is  objective  evidence  that  an  investment  is  impaired.  Objective  evidence  would  include  a 
significant or prolonged decline in the fair value of the investment below its costs. Where there is 
evidence  of  impairment,  the  cumulative  loss  (measured  as  the  difference  between  the  acquisition 
cost and the current fair value, less any impairment loss on that investment previously recognised 
in  the  statement  of  comprehensive  income)  is  removed  from  contributors’  resources  and 
recognised  in  the  statement  of  comprehensive  income.  Impairment  losses  on  available-for-sale 
financial  assets  are  not  reversed  through  the  statement  of  comprehensive  income;  increases  in 
their fair value after impairment are recognised directly in contributors’ resources. 

The European Investment Bank’s Risk Management reviews financial assets for impairment at least 
once  a  year.  Resulting  adjustments  include  the  unwinding  of  the  discount  in  the  statement  of 
comprehensive  income  over  the  life  of  the  asset,  and  any  adjustments  required  in  respect  of  a 
reassessment of the initial impairment. 

2.4.5  Derivative financial instruments 

Derivatives  include  cross  currency  swaps,  cross  currency  interest  rate  swaps  and  currency 
forwards. 

In the normal course of its activity, the Facility may enter into swap contracts with a view to hedge 
specific  lending  operations  or  into  currency  forward  contract  with  a  view  to  hedge  its  currency 
positions, denominated in actively traded currencies other than the Euro, in order to offset any gain 
or loss caused by foreign exchange rate fluctuations. 

The Facility has not entered into any hedge accounting transactions as at December 31, 2010 and 
2011.  All  derivatives  are  measured  at  fair  value  through  the  income  statement.  Fair  values  are 
derived  primarily  from  discounted  cash-flow  models,  option-pricing  models  and  from  third  party 
quotes. 

Derivatives are recorded at fair value and carried as assets when their fair value is positive and as 
liabilities  when  their  fair  value  is  negative.  Changes  in  the  fair  value  of  derivative  financial 
instruments are included in “Net result on financial operations”. 

67 

 
 
 
 
 
 
 
 
 
 
  
  
2.4.6  Contributions 

Contributions  from  Member  States  are  recognised  as  receivables  in  the  statement  of  financial 
position  on  the  date  of  the  Council  Decision  fixing  the  financial  contribution  to  be  paid  by  the 
Member States to the Facility. 

The Member States contributions meet the following conditions and are consequently classified as 
equity: 

- 

- 
- 

- 

- 

as defined in the contribution agreement, they entitle the Member States to decide on the 
utilisation of the Facility’s net assets in the events of the Facility’s liquidation; 
they are in the class of instruments that is subordinate to all other classes of instruments; 
all financial instruments in the class of instruments that is subordinate to all other classes 
of instruments have identical features; 
the instrument does not include any features that would require classification as a liability; 
and 
the  total  expected  cash  flows  attributable  to  the  instrument  over  its  life  are  based 
substantially on the profit or loss, the change in the recognised net assets or the change in 
the fair value of the recognised and unrecognised net assets of the Facility over the life of 
the instrument. 

2.4.7  Interest income on loans 

Interest on loans originated by the Facility is recorded in the statement of comprehensive income 
(‘Interest and similar income’) and on the statement of financial position (‘Loans and receivables’) 
on  an  accrual  basis  using  the  effective  interest  rate,  which  is  the  rate  that  exactly  discounts 
estimated  future  cash  payments  or  receipts  through  the  expected  life  of  the  loan  to  the  net 
carrying  amount  of  the  loan.  Once  the  recorded  value  of  a  loan  has  been  reduced  due  to 
impairment,  interest  income  continues  to  be  recognised  using  the  original  effective  interest  rate 
applied to the new carrying amount. 

2.4.8  Interest subsidies and technical assistance 

As part of its activity, the Facility manages interest subsidies and technical assistance on behalf of 
the Member States. 

The  part  of  the  Member  States  contributions  allocated  to  the  payment  of  interest  subsidies  is  not 
accounted  for  in  the  Facility’s  contributors’  resources  but  is  classified  as  amounts  owed  to  third 
parties.  The  Facility  operates  the  disbursement  to  the  final  beneficiaries  and  then  decreases  the 
amounts owed to third parties. 

When amounts contributed with regard to interest subsidies and technical assistance are not fully 
granted, they are reclassified as contribution to the Facility. 

2.4.9  Interest income on cash and cash equivalents 

Interest  income  on  cash  and  cash  equivalents  is  recognised  in  the  statement  of  comprehensive 
income of the Facility on an accrual basis. 

2.4.10 Fees, commissions and dividends 

Fees received in respect of services provided over a period of time are recognised as income as the 
services are provided. Commitment fees are deferred and recognised in income using the effective 
interest method over the period from disbursement to repayment of the related loan. 

Dividends relating to available-for-sale financial assets are recognised when received. 

68 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2.4.11 Taxation 

The  Protocol  on  the  Privileges  and  Immunities  of  the  European  Communities,  appended  to  the 
Treaty  of  8  April  1965  establishing  a  Single  Council  and  a  Single  Commission  of  the  European 
Communities,  stipulates  that  the  assets,  revenues  and  other  property  of  the  Institutions  of  the 
Union are exempt from all direct taxes. 

3  Risk Management 

This note presents information about the Facility's exposure to and its management and control of 
credit  and  financial  risks,  in  particular  the  primary  risks  associated  with  its  use  of  financial 
instruments. These are: 

- 

- 

credit  risk  –  the  risk  of  loss  resulting  from  client  or  counterparty  default  and  arising  on 
credit exposure in all forms, including settlement risk; 
liquidity  risk  –  the  risk  that  an  entity  will  encounter  difficulty  in  meeting  obligations 
associated  with  financial  liabilities  that  are  settled  by  delivering  cash  or  another  financial 
asset; 

-  market  risk  –  exposure  to  observable  market  variables  such  as  interest  rates,  foreign 

exchange rates and equity market prices. 

3.1 Risk management organisation 

The  European  Investment  Bank  adapts  its  risk  management  on  an  ongoing  basis.  Systems  are  in 
place  to  control  and  report  on  the  main  risks  inherent  in  its  operations,  i.e.  credit,  market  and 
liquidity risks. 

The  Risk  Management  of  the  Bank  independently  identifies,  assesses,  monitors  and  reports  the 
credit  and  equity  price  risks  to  which  the  Facility  is  exposed.  Within  a  framework  whereby  the 
segregation  of  duties is  preserved,  the  Risk  Management  is independent  of  the  Front  Offices.  The 
Director General of Risk Management reports for risk matters, to the designated Vice-President of 
the  European  Investment  Bank.  The  designated  Vice-President  meets  regularly  with  the  Audit 
Committee to discuss topics relating to risks. He is also responsible for overseeing risk reporting to 
the European Investment Bank’s Management Committee and the Board of Directors. 

3.2 Credit risk 

Credit risk is the potential loss that could result from client or counterparty default and arising on 
credit exposure in all forms, including settlement. 

3.2.1. Credit risk policy 

In carrying out the credit analysis on loan counterparts, the Bank assesses credit risk with a view 
to  quantify  and  pricing  it.  The  Facility  has  developed  an  Internal  Rating  Methodology  (IRM)  for 
corporates or financial institutions to determine the Internal Ratings of its main borrower/guarantor 
beneficiary counterparts. The methodology is based on a system of scoring sheets tailored for each 
major  credit  counterpart  type  (e.g.  Corporates,  Banks,  Public  Sector  Entities,  etc).  Taking  into 
consideration  both,  best  banking  practice  and  the  principles  set  under  the  Basel  International 
Capital  Accord  (Basel  II),  all  counterparts  that  are  material  to  the  credit  profile  of  a  specific 
transaction  are  classified  into  internal  rating  categories  using  the  IRM  for  the  specific  counterpart 
type. Each counterpart is initially assigned  to an Internal Rating reflecting the counterpart’s long-
term  foreign  currency  rating  (or  local  currency  equivalent  when  required)  following  an  in-depth 
analysis of the counterpart’s risk profile and its country risk operating context. 

The  credit  assessment  of  project  finance  and  other  structured  limited  recourse  operations  is  not 
subject  to  IRM  and  is  using  credit  risk  tools  relevant  for  the  sector,  focused  mainly  on  cash  flow 
availability  and  debt  service  capacity.  These  tools  include  the  analysis  of  projects’  contractual 
framework, counterpart’s  analysis and cash flow simulations. Similarly to corporates  and financial 
institutions, each project is assigned to an internal risk rating and an expected loss. 

69 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
All  non-sovereign  (or  non  sovereign  guaranteed/assimilated)  operations  are  subject  to  specific 
transaction-level and counterpart size limits. The maximum nominal amount of each transaction is 
capped by a limit which depends on the transaction expected loss. Counterpart limits are applied to 
consolidated exposures. Such limits typically reflect the size of counterparts  own funds as well as 
their total external long-term funding. 

In order to mitigate credit risk the Facility uses various credit enhancements which are: 

- 

- 

project related securities (e.g., pledge over the shares; pledge over the assets; assignment 
of rights; pledge over the accounts); or/and 
guarantees, generally provided by the sponsor of the financed project (e.g., completion 
guarantees, first demand guarantees). 

In addition, the Facility uses seldom credit enhancements which are not immediately correlated to 
the project risk, like collaterals or bank guarantees. 

The Facility does not use any credit derivatives to mitigate credit risk. 

3.2.2. Maximum  exposure  to  credit  risk  without  taking  into  account  any 

collateral and other credit enhancements 

The  following  table  shows  the  maximum  exposure  to  credit  risk  for  the  components  of  the 
statement  of  financial  position,  including  derivatives.  The  maximum  exposure  is  shown  gross, 
before the effect of mitigation through the use of collateral. 

Maximum exposure (in EUR'000) 

31.12.2011  31.12.2010

ASSETS 

Cash and cash equivalents 

Derivative financial instruments 

Loans and receivables 

Amounts receivable from contributors 

Other assets 

Total Assets 

OFF BALANCE SHEET 

Contingent liabilities 

- Guarantees undrawn 

Commitments 

- Undisbursed loans 

- Guarantees drawn 

Total Off balance sheet 

Total credit exposure 

452 279 

411 587 

434 

1 033 160 

87 310 

416 

1 376 

844 428 

100 000 

3 172 

1 573 599 

1 360 563

20 000 

45 000 

701 092 

808 865 

7 909 

9 484 

729 001 

863 349

2 302 600 

2 223 912

3.2.3. Credit risk on loans and receivables 

3.2.3.1 Credit risk measurement for loans and receivables 

Each and every lending transaction undertaken by the Facility benefits from a comprehensive risk 
assessment  and  quantification  of  expected  loss  estimates  that  are  reflected  in  a  Loan  Grading 
(“LG”).  LGs  are  established  according  to  generally  accepted  criteria,  based  on  the  quality  of  the 
borrower, the maturity of the loan, the guarantee and, where appropriate, the guarantor. 

The loan grading (LG) system comprises the methodologies, processes, databases and IT systems 
supporting  the  assessment  of  credit  risk  in  lending  operations  and  the  quantification  of  expected 
loss estimates. It summarises a large amount of information with the purpose of offering a relative 

70 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ranking of loans’ credit risks. LGs reflect the present value of the estimated level of the “expected 
loss”, this being the product of the probability of default of the main obligors, the exposure at risk 
and the loss severity in the case of default. LGs are used for the following purposes: 

- 
- 
- 
- 

as and aid to a finer and more quantitative assessment of lending risks; 
as help in distributing monitoring efforts; 
as a description of the loan’s portfolio quality at any given date; 
as one input in risk-pricing decisions based on the expected loss. 

The following factors enter into the determination of an LG: 

i) 

The  borrower’s  creditworthiness:  RM  independently  reviews  borrowers  and  assesses  their 
creditworthiness based on internal methodologies and external data. In line with the Basel II 
Advanced Approach chosen, the Bank has developed an internal rating methodology (IRM) to 
determine the internal ratings of borrowers and guarantors. This is based on a set of scoring 
sheets specific to defined counterparty types. 

ii)  The  default  correlation:  it  quantifies  the  chances  of  simultaneous  financial  difficulties  arising 
for both the borrower and the guarantor. The higher the correlation between the borrower and 
the  guarantor’s  default  probabilities,  the  lower  the  value  of  the  guarantee  and  therefore  the 
lower the LG. 

iii)  The  value  of  guarantee  instruments  and  of  securities:  this  value  is  assessed  on  the  basis  of 

the combination of the issuer’s creditworthiness and the type of instrument used. 

iv)  The  contractual framework:  a  sound  contractual  framework  will  add  to  the  loan’s  quality  and 

enhance its internal grading. 

v)  The loan’s duration: all else being equal, the longer the loan, the higher the risk of incurring 

difficulties in the servicing of the loan. 

A loan’s expected loss is computed by combining the five elements discussed above. Depending on 
the level of this loss, a loan is assigned to one of the following LG classes listed below: 

A  Prime  quality  loans:  there  are  three  sub-categories.  A°  comprises  all  EU  sovereign  risks,  i.e. 
loans granted to or fully, explicitly and unconditionally guaranteed by Member States, where no 
repayment  difficulties  are  expected  and  for  which  an  unexpected  loss  of  0%  is  allocated.  A+ 
denotes  loans  granted  to  (or  guaranteed  by)  entities  other  than  Member  States,  with  no 
expectation  of  deterioration  over  their  duration.  A-  includes  those  lending  operations  where 
there  is  some  doubt  about  the  maintenance  of  their  current  status  (for  instance  because  of  a 
long maturity, or for the high volatility of the future price of an otherwise excellent collateral), 
but where any downside is expected to be quite limited. 

B  High  quality  loans:  these  represent  an  asset  class  with  which  the  bank  feels  comfortable, 
although a minor deterioration is not ruled out in the future. B+ and B- are used to denote the 
relative likelihood of the possibility of such deterioration occurring. 

C  Good quality loans: an example could be unsecured loans to solid banks and corporates with a 

7-year bullet, or equivalent amortising, maturity at disbursement. 

D  This  rating  class  represents  the  borderline  between  "acceptable  quality"  loans  and  those  that 
have  experienced  some  difficulties.  This  watershed  in  loan  grading  is  more  precisely 
determined  by  the  sub-classifications  D+  and  D-.  Loans  rated  D-  require  heightened 
monitoring. 

E  This  LG  category  includes  loans  with  a  risk  profile  greater  than  generally  accepted.  It  also 
includes  loans  which  in  the  course  of  their  lives  have  experienced  severe  problems  and  their 
sliding  into  a  situation  of  loss  cannot  be  excluded.  For  this  reason,  the  loans  are  subject  to 
close and high monitoring. The sub-classes E+ and E- differentiate the intensity of this special 
monitoring process, with those operations graded E- being in a position where there is a strong 
possibility that debt service can not be maintained on a timely basis and therefore some form 
of debt restructuring is required, possibly leading to an impairment loss. 

F  F (fail)  denotes  loans  representing  unacceptable  risks.  F-  graded  loans  can  only  arise  out  of 
outstanding  transactions  that  have  experienced,  after  signature,  unforeseen,  exceptional  and 

71 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
dramatic adverse circumstances. All operations where there is a loss of principal to the Facility 
are graded F and a specific provision is applied. 

Generally, loans internally graded D- or below are placed on the Watch List. However, if a loan was 
originally approved with a risk profile of D- or weaker, it will only be placed on the Watch List as a 
result of a material credit event causing a further deterioration of its LG classification. 

The table in section 3.2.3.3 shows the credit quality analysis of the Facility’s loan portfolio based on 
the various LG classes as described above. 

3.2.3.2 Analysis of lending credit risk exposure 

The following table shows the maximum exposure to credit risk on loans signed and disbursed by 
nature of borrower taking into account guarantees provided by guarantors: 

At 31.12.2011 
(in EUR ‘000) 

Banks 

Corporates 

Public institutions 

States 

Total disbursed 

Signed not disbursed 

At 31.12.2010 
(in EUR ‘000) 

Banks 

Corporates 

Public institutions 

States 

Total disbursed 

Signed not disbursed 

Guaranteed

Not guaranteed 

111 020 

71 300 

37 670 

6 214 

226 204

183 918

197 245 

475 012 

- 

134 699 

Total

308 265 

546 312

37 670 

140 913

806 956 

1 033 160

517 174 

701 092

Guaranteed

Not guaranteed 

101 675 

304 283 

36 667 

6 779 

449 403

279 425

156 488 

127 611 

- 

110 925 

395 025 

529 410 

Total

258 163

431 894

36 667

117 704

844 428

808 865

3.2.3.3 Credit quality analysis per type of borrower 

The tables below show the credit quality analysis of the Facility's loan portfolio as at 31 December 
2011  and  31  December  2010  by  the  Loan  Grading  applications,  based  on  the  exposures  signed 
(disbursed and undisbursed). 

At 
31.12.2011 

(in EUR'000) 

Banks 

Corporates 
Public 
institutions 

States 

Borrower 

TOTAL 

 High 
Grade 

 Standard 
Grade 

 A to 
B- 
50 002 

3 917 

-

-

 C 
9 674 

5 279 

-

-

 Min. 
Accept. 

 Risk 

 D+ 
39 966 

-

-

-

 High Risk  

 No 
grading 

 TOTAL 

 D- and 
below  
356 629 

635 825 

38 761 

242 723 

351 476 

807 747

-

-

-

645 021

38 761

242 723

53 919

14 953

39 966

1 273 938 

351 476

1 734 252

72 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
  
  
 
  
  
 
At 
31.12.2010 

(in EUR'000) 

Banks 

Corporates 
Public 
institutions 

States 

Borrower 

TOTAL 

 High 
Grade 

 Standard 
Grade 

 A to 
B- 
4 915 

4 189 

 -

 -

 C 
19 754 

5 095 

-

 -

 Min. 
Accept. 

 Risk 

 D+ 
16 208 

3 366 

-

-

 High Risk  

 No 
grading 

 TOTAL 

 D- and 
below  
335 759 

595 062 

37 757 

271 691 

359 497 

736 133

-

-

-

607 712

37 757

271 691

9 104

24 849

19 574

1 240 269 

359 497

1 653 293

73 

 
 
 
 
 
 
  
 
 
  
  
 
  
  
 
3.2.3.4 Risk concentrations of loans and receivables 

3.2.3.4.1 

Geographical analysis 

Based  on  the  country  of  borrower,  the  Facility's  loan  portfolio  can  be  analysed  by  the  following 
geographical regions (in EUR ‘000): 

Country of borrower 

31.12.2011  31.12.2010

Regional - ACP 

Uganda 

Regional - West Africa 

Mozambique 

Mauritania 

Ethiopia 

Dominican Republic 

Kenya 

Cameroon 

Zambia 
Congo (Democratic 
Republic) 
Nigeria 

Regional - Pacific 

Regional - Central Africa 

Jamaica 

Madagascar 

Mauritius 

Ghana 

Angola 

Trinidad and Tobago 

Burkina Faso 

Malawi 

New Caledonia 

Rwanda 

Niger 

French Polynesia 

Botswana 

Senegal 

Lesotho 

Vanuatu 

Belize 

Grenada 

Gabon 

Togo 

Cape Verde  

Djibouti 

TOTAL 

99 543 

94 789 

117 035 

102 676 

14 161 

126 666 

43 427 

84 266 

66 118 

65 611 

60 706 

43 294 

6 659 

86 992 

29 359 

52 449 

55 717 

69 183 

67 546 

50 557 

8 980 

2 742 

28 691 

20 603 

12 109 

59 317 

1 253 

12 732 

7 812 

13 598 

1 002 

12 588 

5 833 

4 673 

11 197 

3 950 

3 131 

- 

10 329 

3 902 

3 917 

103 

2 698 

1 509 

53 224 

28 405 

777 

49 395 

29 766 

13 838 

30 062 

1 503 

14 742 

10 585 

6 719 

5 269 

14 242 

6 086 

1 802 

9 600 

5 935 

2 734 

1 609 

6 779 

3 751 

4 189 

 729 

2 907 

2 014 

- 

- 

1 504 

 1 033 160 

844 428

74 

 
 
 
 
 
 
 
3.2.3.4.2 Industry sector analysis 

The table below analyses the Facility's loan portfolio by industry sector of the borrower. Operations 
which are first disbursed to a financial intermediary before being disbursed to the final beneficiary 
are reported under global loans (in EUR’000): 

Industry sector of borrower 

31.12.2011 31.12.2010

Global loans and agency agreements 

218 912 

232 581 

Airlines and aircraft manufacture 
Airports and air traffic management 
systems 
Basic material and mining 

Chemicals, plastics and pharmaceuticals 

Drinking water, water treatment 

Electricity, coal and others 

Food chain 

Investment goods/consumer durables 

Marine transport and other 

Materials processing, construction 

Paper chain 

Roads and motorways 

Telecommunications 

Tertiary and other 

TOTAL 

103 

 729 

31 052 

30 062 

135 573 

119 512 

20 400 

33 247 

5 925 

17 074 

358 745 

320 490 

1 244 

3 902 

6 214 

29 025 

4 840 

62 856 

24 963 

102 084 

1 491 

3 751 

6 779 

 64 

2 603 

23 125 

26 621 

53 620 

 1 033 160

844 428

3.2.3.5 Arrears on loans 

Amounts in arrears are identified, monitored and reported according to a set of procedures called 
“Guidelines for the Monitoring of late payments”. 

The monitoring and reporting of amounts in arrears is generally managed by the Late Payment Unit 
(“LPU”)  of  EIB’s  Transaction  Management  and  Restructuring  Directorate.  LPU  prepares  a  monthly 
report on unpaid loan instalments of the Facility, including a table comparing arrears of more than 
eight  days  from  month  to  month.  The  monthly  report  gives  a  detailed  indication  of  the  steps 
already taken or to be taken by country, loan and instalment.  

In addition, a monthly report on loans overdue by more than 90 days is prepared and sent to the 
European Commission. Twice a year the EIB management committee receives a summary table on 
arrears  for  loans  overdue  by  more  than  30  days  and  90  days  as  well  as  a  report  including 
comparative information on the annual and semi-annual evolution of arrears. 

The arrears of payments on concerned loans can be analysed as follows (in EUR’000): 

Instalments 
overdue 
 more than 30 days 

Instalments 
overdue more 
than 90 days

Instalments 
overdue more 
than 180 days

31.12.2011 

31.12.2010 

14 087 

8 224 

10 179 

4 461 

10 146 

4 366 

3.2.4. Credit risk on cash and cash equivalents 

Available funds are invested in accordance with the Facility’s schedule of contractual disbursement 
obligations. As of 31.12.2011, investments were only in the form of bank deposits and other short-
term  financial  instruments.  Investments  in  medium  and  long-term  bonds  could  also  be  eligible, 
according to the investment guidelines and depending on liquidity requirements. 

75 

 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
The  minimum  short  term  rating  required  for  authorised  banks  or  issuers  is  A-1/P-1/F1  (Moody’s, 
S&P, Fitch). In case of different ratings being granted by more than one credit rating agency, the 
lowest  rating  governs.  The  maximum  authorized  limit  for  each  authorised  bank  or  issuer  is 
currently EUR 50 000 000 (fifty million euro). 

The deposits are executed with authorised entities with a maximum maturity of three months from 
trading date and up to the credit exposure limit. 

As  at  31  December  2011  and  31  December  2010  all  bank  deposits  and  short  term  commercial 
papers held by the Facility had a minimum rating of P-2 according to Moody’s.  

The following table shows the situation of bank deposits including accrued interest (in EUR’000): 

Minimum short-term 
rating 

Moody's 
rating 

31.12.2011 

31.12.2010 

P-1 

P-1 

P-1 

P-1 

P-2 

A1 

A2 

Aa2 

Aa3 

A3 

117 603 

179 938 

28 622 

105 547 

26% 

       138 724 

36% 

40% 

         18 822 

6% 

       118 562 

24% 

       110 527 

5% 

31% 

29% 

- 

   17 441 

4% 

- 

TOTAL 

449 151

100%        386 635  100% 

The following table shows the situation of short term commercial papers (in EUR’000): 

Minimum short-term 
rating 

Moody's 
rating 

P-1 

TOTAL 

A1 

31.12.2011 

31.12.2010 

- 

 -

- 

-

         21 473 

100% 

         21 473  100% 

3.2.5. Credit risk on derivatives 

3.2.5.1 Credit risk policy of derivatives 

The  credit  risk  with  respect  to  derivatives  is  represented  by  the  loss  which  a  given  party  would 
incur  where  the  other  counterparty  to  the  deal  would  be  unable  to  honour  its  contractual 
obligations.  The  credit  risk  associated  with  derivatives  varies  according  to  a  number  of  factors 
(such  as  interest  and  exchange  rates)  and  generally  corresponds  to  only  a  small  portion  of  their 
notional value. 

In the normal course of its activity, the Facility may enter into swap contracts with a view to hedge 
specific  lending  operations  or  into  currency  forward  contracts,  with  a  view  to  hedge  its  currency 
positions  denominated  in  actively  traded  currencies  other  than  the  Euro.  All  the  swaps  are 
executed  by  the  European  Investment  Bank  with  an  external  counterpart.  The  swaps  are 
disciplined by the same Master Swap Agreements and Credit Support Annexes signed between the 
European Investment Bank and its external counterparts.  

3.2.5.2 Credit risk measurement for derivatives 

All  the  swaps  executed  by  the  European  Investment  Bank  that  are  related  to  the  Facility  are 
treated  within  the  same  contractual  framework  and  methodologies  applied  for  the  derivatives 
negotiated by the European Investment Bank for its own purposes. In particular, eligibility of swap 
counterparts  is  determined  by  the  European  Investment  Bank  based  on  the  same  eligibility 
conditions applied for its general swap purposes. 

The European Investment Bank measures the credit risk exposure related to swaps and derivatives 
transactions  using  the  Net  Market  Exposure  (NME)  and  Potential  Future  Exposure  (PFE)  approach 
for reporting and limit monitoring. The NME and the PFE fully include the derivatives related to the 
Investment Facility. 

76 

 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
The following table shows the maturities of swap contracts (including cross currency swaps, cross 
currency  interest  rate  swaps  and  excluding  short-term  currency  swaps),  sub-divided  according  to 
their notional amount and fair value: 

Swap contracts at 31.12.2011 
(in EUR' 000) 

less than
1 year

1 year
to 5 years

5 years more than 
to 10 years 

to 10 years

Total 2011

Notional amount 
Fair Value (i.e. net discounted value) 

7 042 
-674 

43 593 
-1 331 

16 899 
-3 869 

- 
- 

67 534
-5 874

Swap contracts at 31.12.2010 

less than

1 year

5 years more than 

Total 2010

(in EUR' 000) 

1 year

to 5 years

to 10 years

to 10 years 

Notional amount 

Fair Value (i.e. net discounted value) 

431 

- 6 

37 822 

-728 

65 514 

- 3 787 

1 440 

- 213 

105 207

- 4 734

The Facility enters into short-term currency swap contracts in order to hedge currency risk on loan 
disbursements  in  currencies  different  from  EUR.  Short-term  currency  swaps  have  a  maturity  of 
maximum three months and are regularly rolled-over. 

The notional amount of short-term currency swaps stood at EUR 585 million at 31 December 2011 
against  EUR  458  million  at  31  December  2010.  The  fair  value  of  short-term  currency  swaps 
amounts EUR -6.4 million at 31 December 2011 against EUR nil at 31 December 2010. 

3.3 Liquidity risk 

Liquidity  risk  represents  the  risk  that  an  entity  will  encounter  difficulty  in  meeting  obligations 
associated with financial liabilities that are settled by delivering cash or another financial asset. 

The  IF  is  primarily  funded  by  annual  contributions  from  Member  States  (9th  and  10th  EDF 
resources)  and  secondly  by  reflows  stemming  from  IF  operations.  Each  year,  the  EC,  taking  into 
account  EIB’s  forecasts  concerning  the  management  and  operations  of  the  IF,  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 (interest subsidies included) to be made in the current 
and the following budget years. 

In order to calculate Member States annual contributions, disbursement pattern of the existing and 
pipelined portfolio is analysed and followed up throughout the  year. Special events, such as early 
reimbursements, sales of shares or default cases are taken into account to correct annual liquidity 
requirements.  To  further  minimize  the  liquidity  risk,  the  Facility  maintains  a  liquidity  reserve 
sufficient to cover at any point in time forecasted disbursements, as communicated periodically by 
OPS. 

The  treasury  assets  of  the  accounts  opened  in  the  name  of  the  IF  are  managed  by  the  Bank’s 
Treasury Department. In accordance with the principle of segregation of duties between the Front 
and  Back  Office.  Settlement  operations  related  to  the  investment  of  these  assets  are  under  the 
responsibility of the Planning and Settlement of Operations Department. 

Where so required for operational reasons in the judgment of the managers of the Front and Back 
Offices during their day-to-day management of the treasury assets, the Bank’s Liquidity and Cash 
flows Operational Committee (LICOCOM), a body meeting on a weekly basis, bringing together the 
Financial, Lending and Risk Management units will rule specifically on the problems raised and the 
appropriate  solutions.  Operational  requirements  falling  outside  the  framework  of  day-to-day 
management of the assets, and the appropriate solutions adopted will be submitted to the EC for 
agreement in principle. 

Further,  according  to  the  principle  of  segregation  of  duties,  the  authorisation  of  counterparts  and 
limits  for  treasury  investments,  as  well  as  the  monitoring  of  such  limits,  are  the  responsibility  of 
the Bank’s Risk Management Directorate.  

The table below sets out the Facility’s assets and liabilities by relevant maturity groupings based on 
the remaining period to the contractual maturity date (in EUR’000): 

77 

 
 
 
  
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
At 31 December 2011 

ASSETS 

Cash and cash equivalents 

Derivative financial instruments 

Loans and receivables 

Available for sale financial assets 

Amounts receivable from contributors 

Other assets 

Total assets 

LIABILITIES AND CONTRIBUTORS’ 
RESOURCES 

Liabilities 

Derivative financial instruments 

Deferred income 

Amount owed to third parties 

Other liabilities 

Total liabilities 

Contributors’ resources 

Member States Contribution called 

Fair value reserve  

Retained earnings 

Total Contributors’ resources 

Total liabilities and Contributors’ 
resources 

Up to 3 
months 

3 to 12 
months 

1 to 5 
years 

Over 5 

years  Undefined 

Total 

452 279 

- 

- 

15 

- 

419 

- 

- 

- 

- 

452 279 

434 

62 505 

14 649 

118 795 

837 211 

-  1 033 160 

- 

87 310 

 122 

- 

- 

- 

- 

- 

- 

602 216 

14 664 

119 214 

236 446 

15 214 

251 660 

- 

294 

1 073 
951 

- 

- 

15 214 

87 310 

416 

1 825 
259 

6 469 

505 

329 660 

178 

615 

1 749 

3 869 

- 

- 

 - 

- 

- 

- 

32 498 

- 

935 

336 812 

615 

1 749 

37 302 

- 

- 

- 

- 

- 

12 702 

33 003 

329 660 

1 113 

376 478 

- 

- 

- 

- 

- 

- 

- 

- 

- 

- 

- 

- 

-  1 281 309  1 281 309 

31 873 

9 877 

41 750 

- 

31 873 

125 722 
1 416 
908 
1 416 
908 

125 722 
1 448 
781 
1 825 
259 

336 812 

615 

1 749 

69 175 

 At 31 December 2010 

Up to 3 
months 

3 to 12 
months 

1 to 5 
years 

Over 5 
years 

Undefine
d 

Total 

ASSETS 

Cash and cash equivalents 

Derivative financial instruments 

Loans and receivables 

Available for sale financial assets 

Amounts receivable from contributors 

Other assets 

Total assets 
LIABILITIES AND CONTRIBUTORS’ 
RESOURCES 

Liabilities 

Derivative financial instruments 

Deferred income 

Amounts owed to third parties 

Other liabilities 

Total liabilities 

Contributors’ resources 

Member States Contribution called 

Fair value reserve  

Retained earnings  

Total Contributors’ resources 
Total liabilities and Contributors’ 
resources 

411 587 

- 

- 

 3 

- 

- 

 572 

 801 

7 431 

7 146 

131 222 

698 629 

- 

- 

- 

411 587 

1 376 

844 428 

- 

100 000 

2 822 

- 

- 

- 

- 

- 

- 

171 637 

23 191 

194 828 

- 

- 

- 

100 000 

 350 

521 840 

7 149 

131 794 

871 067 

23 541 

3 172 

1 555 
391 

- 

- 

298 415 

 169 

298 584 

- 

- 

- 

- 

- 

- 

 419 

 429 

- 

- 

- 

- 

 10 

1 300 

4 800 

- 

6 110 

- 

- 

- 

 92 

29 487 

29 579 

- 

 352 

- 

- 

298 415 

 940 

1 300 

5 244 

29 487 

335 044 

- 

- 

- 

- 

-  1 131 309  1 131 309 

10 113 

14 457 

24 570 

- 

 64 468 

 64 468 

10 113 

1 210 
234 
1 239 
721 

1 220 
347 
1 555 
391 

298 584 

 429 

1 300 

15 357 

78 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3.4 Market risk 

Market risk represents the risk that changes in market prices, such as interest rates, equity prices, 
foreign exchange rates and credit spreads (not relating to changes in the issuer's credit standing) 
will affect an entity’s income or the value of its holdings in financial instruments. 

3.4.1. Interest rate risk 

Interest  rate  risk  is  the  volatility  in  the  economic  value  of,  or  in  the  income  derived  from,  the 
Facility's  positions  due  to  adverse  movements  in  market  yields  or  the  term  structure  of  interest 
rates.  Exposure  to  interest  rate  risk  occurs  when  there  are  differences  in  repricing  and  maturity 
characteristics of the different assets and liabilities. 

The Facility does not manage the interest rate risk. 

The following table below summarises the Facility's exposure to interest rate through its loans and 
receivables (in EUR’000): 

Fixed rate interest  
Floating rate interest 
Total 

31.12.2011
516 175
516 985

1 033 160

31.12.2010

412 428
432 000
844 428

3.4.2. Foreign exchange risk 

Foreign  exchange  (“FX”)  risk  is  the  volatility  in  the  economic  value  of,  or  in  the  income  derived 
from, the Facility's positions due to adverse movements of foreign exchange rates. 

The Facility is exposed to foreign exchange risk whenever there is a currency mismatch between its 
assets  and  liabilities.  Foreign  exchange  risk  also  comprises  the  effect  of  unexpected  and 
unfavourable changes in the value of future cash flows caused by currency movements. 

3.4.2.1 Foreign exchange risk and treasury assets 

The IF’s treasury assets are denominated either in EUR or USD. 

FX risk is hedged by means of FX spot or forward transactions, FX swaps or cross-currency swaps. 
The  Bank’s  Treasury  Department  can,  where  deemed  necessary  and  appropriate,  use  any  other 
instrument, in line with the Bank’s policy, that provide protection against market risks incurred in 
connection with the IF’s financial activities. 

3.4.2.2 Foreign exchange risk and operations financed or guaranteed by the IF 

Member States’ IF contributions are received in EUR. The operations financed or guaranteed by the 
IF  as  well  as  Interest  Rate  Subsidies  can  be  denominated  in  EUR,  USD  or  any  other  authorized 
currency. 

A  foreign  exchange  risk  exposure  (against  the  EUR  reference  currency)  arises  whenever 
transactions  denominated  in  currencies  other  than  the  EUR  are  left  un-hedged.  The  IF’s  foreign 
exchange risk hedging guidelines are set out below.  

3.4.2.2.1. Hedging of operations denominated in currencies other than EUR or USD 

- 

IF  loans  disbursed  in  currencies  other  than  EUR  and  USD  shall  be  hedged  through  cross-
currency  swap  contracts  with  the  same  financial  profile  as  the  underlying  Loan,  provided 
that a swap market is operational. 

79 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
- 

For disbursements under IF Operations made in a currency other than EUR and USD, and 
for which a long-term hedging operation is not undertaken, the Treasury Department shall 
enter into a foreign exchange transaction two business days prior to the disbursement. The 
conversion  rate  applied  to  IF  Operations  shall  correspond  to  the  market  exchange  rate 
obtained  by  the  Treasury  Department.  Similarly,  for  repayments  received  in  a  currency 
other than EUR and USD, the Treasury Department shall undertake an FX operation where 
necessary to convert the currencies received. 

-  Uncalled guarantees are not subject to any FX hedging. Guarantee calls in currencies other 

than EUR and USD will be hedged. 

-  Operations in currencies other than EUR and USD for which no FX hedging operation can be 
undertaken  by  the  Treasury  Department  shall  be  left  un-hedged.  This  also  includes 
(synthetic)  operations  denominated  in  local  currency  but  settled  in  EUR  or  USD.  The  IF 
shall remain exposed to the FX risk incurred thereby. 

3.4.2.2.2.  Hedging of operations denominated in USD 

- 

- 

- 

The  total  outstanding  amount  of  all  IF  Operations  (except  uncalled  Guarantees) 
denominated  in  USD  shall  be  hedged  by  means  of  USD/EUR  FX  swaps,  rolled  over  on  a 
periodic  basis.  At  the  beginning  of  each  period,  the  cash  flows  to  be  received  or  paid  in 
USD  during  the  next  period  shall  be  estimated  on  the  basis  of  planned  or  expected 
reflows/disbursements.  Subsequently,  the  maturing  FX  swaps  shall  be  rolled  over,  their 
amount  being  adjusted  to  cover  at  least  the  USD  liquidity  needs  projected  over  the  next 
period.  

A  periodic  calculation  of  the  overall  USD  exposure  as  per  the  accounting  records  will  be 
undertaken to adjust, if necessary, the hedge on the next FX swap roll. 

If deemed operationally convenient by the Treasury Department, cross-currency swaps can 
also be used to hedge specific USD Loans. 

-  Within a roll-over period, unexpected USD liquidity deficits shall be covered by means of ad 
hoc FX swap operations while liquidity surpluses shall either be invested in treasury assets 
or swapped into EUR. 

- 

At  all  times,  the  total  outstanding  un-hedged  amount  from  USD  transactions  (in  nominal 
terms)  shall  never  exceed  USD  5  000  000  (five  million  US  dollars).  This  limit  shall  be 
adjusted annually. In case of breach of this limit, the Treasury Department shall bring the 
exposure back within limits by means of an FX operation. 

80 

 
 
 
 
 
 
 
 
 
 
 
The following tables show the Facility's foreign exchange position (in EUR’000): 

 At 31 December 2011 

EUR

USD

CAD 

ACP/OCT 
Currencies

Total

ASSETS 

Cash and cash equivalents 

Derivative financial instruments 

Loans and receivables 

Available-for-sale financial assets 

Amounts receivable from contributors 

Other assets 

Total assets 

LIABILITIES AND CONTRIBUTORS’ 
RESOURCES 

Liabilities 

416 384

35 895

13 419

-12 985

477 340

501 923

- 

- 

- 

-

-

452 279

434

53 897

1 033 160

54 287

87 310

50

186 525

4 303 

6 545

251 660

-

-

- 

- 

-

366

87 310

416

1 048 790

711 358

4 303 

60 808 1 825 259

Derivative financial instruments 

- 641 758

654 460

Deferred income 

Amounts owed to third parties 

Other liabilities 

Total liabilities 

Contributors’ resources 

Member States Contribution called 

Fair value reserve  

Retained earnings  

Total Contributors’ resources 

32 689

329 598

691

314

62

19

-278 780

654  855

1 281 309

41 750

125 722

1 448 781

-

-

-

-

Total liabilities and Contributors’ resources 

1 170 001

654 855

- 

- 

- 

- 

- 

- 

- 

- 

- 

- 

-

-

-

403

403

12 702

33 003

329 660

1 113

376 478

-

-

-

1 281 309

41 750

125 722

- 1 448 781

403 1 825 259

Currency position as at 31 December 2011 

-121 211

56 503

4 303 

60 405

-

As at 31 December 2011 : 

COMMITMENTS 
Un-disbursed loans and available-for-sale financial 
assets 

Guarantees drawn 

CONTINGENT LIABILITIES 

Guarantees undrawn 

761 319

204 340

-

-

-

-

- 

- 

-

965 659

7 909

7 909

- 

20 000

20 000

81 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 At 31 December 2010 

EUR

USD

CAD 

ACP/OCT 
Currencies

Total

ASSETS 

Cash and cash equivalents 

Derivative financial instruments 

Loans and receivables 

378 570

33 017

332 399

- 331 023

385 187

403 417

- 

- 

- 

-

-

411 587

1 376

55 824

844 428

Available-for-sale financial assets 

40 184

137 505

12 444 

4 695

194 828

Amounts receivable from contributors 

Other assets 

Total assets 

100 000

2 742

-

-

- 

- 

-

100 000

430

3 172

1 239 082

242 916

12 444 

60 949 1 555 391

LIABILITIES AND CONTRIBUTORS’ 
RESOURCES 

Liabilities 

Derivative financial instruments 

- 69 815

75 925

Deferred income 

Amounts owed to third parties 

Other liabilities 

Total liabilities 

Contributors’ resources 

Member States Contribution called 

Fair value reserve  

Retained earnings  

Total Contributors’ resources 

29 235

298 415

577

344

-

1

258 412

76 270

1 131 309

24 570

64 468

1 220 347

-

-

-

-

Total liabilities and Contributors’ resources 

1 478 759

76 270

- 

- 

- 

- 

- 

- 

- 

- 

- 

- 

-

-

-

362

362

6 110

29 579

298 415

940

335 044

-

-

-

1 131 309

24 570

64 468

- 1 220 347

362 1 555 391

Currency position as at 31 December 2010 

- 239 677

166 646

12 444 

60 587

-

As at 31 December 2010 : 

COMMITMENTS 
Un-disbursed loans and available-for-sale financial 
assets 

Guarantees drawn 

CONTINGENT LIABILITIES 

Guarantees undrawn 

3.4.3. Equity price risk 

858 279

236 035

-

45 000

-

-

- 

- 

- 

- 1 094 314

9 484

9 484

-

45 000

Equity price risk is the risk that the fair values of equities decrease as the result of changes in the 
levels of equity indices and the value of individual equity investments. 

The IF is exposed to equity price risk via its venture capital investments, i.e. investments in direct 
equity and venture capital funds. 

Equity investments are subject to scoring. Each investment is assessed on several criteria ranging 
in  three  main  categories:  management,  business  plan  and  structure.  Individual  cores  are  then 
consolidated  into  a  single  overall  score  assigned  to  the  investment  and  summarizing  its  global 
strength. 

Equity  risk  exposures  are  also  subject  to  limits,  defined  at  both  individual  and  cumulated  levels. 
The size of such limits depends on the quality of the equity investments. 

82 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4  Fair values of assets and liabilities 

The  table  below  sets  out  a  comparison  by  category  of  the  carrying  amounts  and  fair 
values of the Facility’s assets and liabilities that are carried in the financial statements (in 
EUR’000): 

Carrying 
value
31.12.2011

Fair Value
31.12.2011

Carrying 
value 
31.12.2010 

Fair Value
31.12.2010

Assets carried at fair value 

Available-for-sale financial assets 

251 660 

251 660 

194 828 

194 828 

Derivative financial instruments 

434 

434 

1 376 

1 376 

Total 

252 094

252 094

196 204 

196 204

Assets carried at amortised cost 

Cash and cash equivalents 

Loans and receivables 
Amounts receivable from 
contributors 

Other assets 

Total 

452 279 

452 279 

1 033 160 

1 022 679 

411 587 

844 428 

411 587 

844 428 

87 310 

87 310 

100 000 

100 000 

416 

416 

3 172 

3 172 

1 573 165

1 562 684

1 359 187 

1 359 187 

Total assets 

1 825 259

1 814 778

1 555 391 

1 555 391

Liabilities carried at fair value 

Derivative financial instruments 

Total 

Liabilities carried at amortised 
cost 

12 702 

12 702

12 702 

12 702

6 110 

6 110 

6 110 

6 110

Deferred income 

33 003 

33 003 

29 579 

29 579 

Amounts owed to third parties 

329 660 

329 660 

298 415 

298 415 

Other liabilities 

Total 

1 113 

1 113 

940 

940 

363 776

363 776

328 934 

328 934

Total liabilities 

376 478

376 478

335 044 

335 044

The  following  describes  the  methodologies  and  assumptions  used  to  determine  the  fair 
value of the assets and the liabilities: 

(cid:131)  Assets for which fair value approximates carrying value 

For  assets  and  liabilities  that  are  liquid  or  having  a  short  term  maturity  less  than  three 
months, it is assumed that the carrying amounts approximate to their fair value. 

(cid:131)  Assets and liabilities recorded at their fair value 

Published price quotations in an active market are the first source for determining the fair 
value  of  a  financial  instrument.  Due  to  the  investment  scope  of  the  Facility’s  portfolio 
those are rarely available. For instruments without available market price, fair values are 
estimated using valuation techniques or models based whenever possible on observable 
market data prevailing at the balance sheet date. 

The  following  table  analyses  financial  assets  designated  at  fair  value  by  valuation  method.  The 
different levels have been defined as follows: 

- 

Level 1:  quoted prices (unadjusted) in active markets; 

83 

 
 
 
 
 
 
  
  
  
  
 
 
 
 
 
  
  
  
  
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
- 

- 

Level 2:  inputs other than quoted prices included within level 1 that are observable for the 
asset,   either directly (i.e. as prices) or indirectly (i.e. derived from prices); 
Level 3:  inputs for the asset that are not based on observable market data (unobservable 
inputs). 

At 31 December 2011 

Level 1 

Level 2 

Level 3 

Total 

(in EUR'000) 

Financial assets 

Derivative financial instruments 

- 

Available-for-sale financial assets 

15 214 

434 

- 

TOTAL 

 15 214

 434

- 

434 

236 446 
 236 
446

251 660 
 252 
094

Financial liabilities 

Derivative financial instruments 

TOTAL 

- 

 -

12 702 

 12 702

- 

 -

12 702 

 12 702

At 31 December 2010 

Level 1 

Level 2 

Level 3 

Total 

(in EUR'000) 

Financial assets 

Derivative financial instruments 

Available-for-sale financial assets 

- 

1 376 

- 

1 376 

23 190 

- 

171 638 

194 828 

TOTAL 

23 190

1 376 171 638 196 204

Financial liabilities 

Derivative financial instruments 

TOTAL 

- 

-

6 110 

6 110

- 

-

6 110 

6 110

In 2011 the Facility did not made transfers from Level 1 to 2 or Level 2 to 1 of the fair value 
hierarchy. 

84 

 
 
 
 
  
  
  
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
  
  
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The following tables present the changes in Level 3 instruments for the year ended 31 December 
2011 and 31 December 2010: 

(in EUR'000) 

Balance at 1 January 2011 

Total gains or losses 

- in profit or loss 

- in other comprehensive income 

Disbursements 

Repayments 

Balance at 31 December 2011 

(in EUR'000) 

Balance at 1 January 2010 

Total gains or losses 

- in profit or loss 

- in other comprehensive income 

Disbursements 

Repayments 

Balance at 31 December 2010 

Available-for-sale 
financial assets

171 638

-3 206 

21 759 

67 829 

-21 574 

236 446

Available-for-sale 
financial assets

151 049

-3 176 

-4 773 

50 952 

-22 414 

171 638

5  Cash and cash equivalents (in EUR’000) 

The cash and cash equivalents can be broken down between the funds received from the Member 
States and not yet disbursed and the funds from the Facility’s operational and financial activities. 

31.12.2011

31.12.2010 

Member states contributions received and not yet 
disbursed 
Funds from the Facility’s financial and operational 
activities 

195 205 

33 128 

257 074 

378 459 

Cash and cash equivalents 

452 279

411 587 

6  Derivative financial instruments (in EUR’000) 

The main components of derivative financial instruments are as follows: 

At 31 December 2011 

Cross currency swaps 

Cross currency interest rate swaps 

Short-term currency swaps 

Fair Value 

Assets

Liabilities

Notional 
amount 

434 

- 

- 

-953 

-5 355 

-6 394 

29 376 

38 158 

585 000 

Derivative financial instruments 

434

-12 702

85 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
At 31 December 2010 

Cross currency swaps 

Cross currency interest rate swaps 

Short-term currency swaps 

Fair Values 

Assets

1 235

 141

 -

Liabilities

-945

-5 165

Notional 
amount 

47 526 

57 681 

-

458 000 

Derivative financial instruments 

1 376

-6 110

7  Loans and receivables (in EUR’000) 

The main components of loans and receivable are as follows: 

Nominal as at 1 January 2011 

246 500

542 322

123 910

912 732

Global loans 

(*) Senior loans

Subordinated 
loans

Total

Disbursements 

Write offs 

Repayments 

Interest capitalised 

Foreign exchange rates differences 

25 689

211 351

-

237 040

-

-

-48 554

-51 712

-

459

1 730

13 930

-2 000

-4 144

10 053

860

-2 000

-104 410

10 512

16 520

Nominal as at 31 December 2011 

225 365

716 350

128 679

1 070 394

Impairment as at 1 January 2011 

-15 006

-18 056

-44 023

-77 085

Impairment recorded in statement of comprehensive 
income 
Write offs 

Reversal of impairment 

Foreign exchange rates differences 

-1 746

-1 514

-

9 499

-356

-

3 263

-65

-773

2 000

18 723

-762

-4 033

2 000

31 485

-1 183

Impairment as at 31 December 2011 

-7 609

-16 372

-24 835

-48 816

Amortised Cost 

Accrued interest 

-1 700

3 498

-3 428

9 499

-99

3 812

-5 227

16 809

Loans and receivables as at 31 December 2011 

219 554

706 049

107 557

1 033 160

(*) including agency agreements 

86 

 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Global loans 
(*)

Senior loans 

Subordinate
d loans

Total

Nominal as at 1 January 2010 

230 989

406 799 

145 482

783 270

Disbursements 

Repayments 

Interest capitalised 

Foreign exchange rates differences 

39 596

-33 573

-

9 488

165 781 

-46 053 

- 

15 795 

1 575

206 952

-40 098

-119 724

13 239

3 712

13 239

28 995

Nominal as at 31 December 2010 

246 500

542 322 

123 910

912 732

Impairment as at 1 January 2010 

-8 371

-30 217 

-59 556

-98 144

Impairment recorded in statement of comprehensive 
income 
Reversal of impairment 

Foreign exchange rates differences 

-6 522

 266

-379

- 

13 843 

-1 682 

-582

18 423

-2 308

-7 104

32 532

-4 369

Impairment as at 31 December 2010 

-15 006

-18 056 

-44 023

-77 085

Amortised Cost  

Accrued interest 

-1 727

3 670

-2 047 

6 226 

- 118

2 777

-3 892

12 673

Loans and receivables as at 31 December 2010 

233 437

528 445 

82 546

844 428

(*) including agency agreements 

8  Available-for-sale financial assets (in EUR’000) 

The main components of available-for-sale financial assets are as follows: 

Cost as at 1 January 2011 

Disbursements 

Repayments / sales 

Foreign exchange rates differences on repayments / sales 

Venture 
Capital Fund

Direct Equity 
Investment 

Total

142 932

33 350 

176 282

59 579 

-20 236 

417 

8 250 

-4 735 

-300 

67 829 

-24 971 

117 

Cost as at 31 December 2011 

182 692

36 565 

219 257

Unrealised gains and losses as at 1 January 2011 

Net change in unrealised gains and losses 

Unrealised gains and losses as at 31 December 
2011 

11 335

18 446 

29 781

13 235 

-1 266 

11 969 

Impairment as at 1 January 2011 

-2

-6 022 

Impairment recorded in statement of comprehensive 
income during the year 
Use of impairment booked in the statement of 
comprehensive income during previous years 

Foreign exchange rates differences on impairment  

- 6 888 

2 

1 

- 

3 714 

-152 

24 570

17 180 

41 750

-6 024

-6 888 

3 716 

-151 

Impairment as at 31 December 2011 

-6 887

-2 460 

-9 347

Available-for-sale financial assets as at 31 
December 2011 

205 586

46 074 

251 660

87 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cost as at 1 January 2010 

Disbursements 

Repayments / sales 

Foreign exchange rates differences on repayments / sales 

Venture 
Capital Fund

Direct Equity 
Investment 

Total

116 652

30 462 

147 114

48 040 

-22 414 

 654 

2 912 

- 

-24 

50 952 

-22 414 

 630 

Cost as at 31 December 2010 

142 932

33 350 

176 282

Unrealised gains and losses as at 1 January 2010 

Net change in unrealised gains and losses 
Unrealised gains and losses as at 31 December 
2010 

18 138

-6 803 

11 335

1 572 

11 663 

19 710

4 860 

13 235 

24 570

Impairment as at 1 January 2010 

Impairment recorded in statement of comprehensive 
income during the year 

Impairment as at 31 December 2010 

-2

- 

-2

-2 308 

-3 714 

-6 022 

-2 310

-3 714 

-6 024

Available-for-sale financial assets as at 31 
December 2010 

154 265

40 563 

194 828

9  Amounts receivable from contributors (in EUR’000) 

The main components of amounts receivable from contributors are as follows: 

31.12.2011

31.12.2010 

Member states contribution called but not paid 

87 310 

100 000 

Total amount receivable from contributors 

87 310

100 000 

10  Other assets (in EUR’000) 

The main components of other assets are as follows: 

Amount receivable from EIB 

Financial guarantees 

31.12.2011

31.12.2010 

59 

357 

2 743 

 429 

Total other assets 

416

3 172 

88 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11  Deferred income (in EUR’000) 

The main components of deferred income are as follows: 

31.12.2011

31.12.2010 

Deferred interest subsidies 

Deferred commissions on loans and receivables 

32 744 

259 

29 073 

 506 

Total deferred income 

33 003

29 579 

12  Amounts owed to third parties (in EUR’000) 

The main components of amounts owed to third parties are as follows: 

31.12.2011

31.12.2010 

Net general administrative expenses payable to EIB 

Other amounts payable to EIB 
Interest subsidies not yet disbursed owed to Member 
States 

38 011 

34 086 

219 

- 

291 430 

264 329 

Total amounts owed to third parties 

329 660

298 415 

13  Other liabilities (in EUR’000) 

The main components of other liabilities are as follows: 

Financial guarantees 

Other 

31.12.2011

31.12.2010 

294 

819 

 351 

 589 

Total amount of other liabilities 

1 113

 940 

89 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
14  Member States Contribution called (in EUR’000) 

Member States 

Austria 

Belgium 

Denmark 

Finland 

France 

Germany 

Greece 

Ireland 

Italy 

Luxembourg 

Netherlands 

Portugal 

Spain 

Sweden 

United Kingdom 

Contribution 
to the 
Facility

Contribution  
to interest 
subsidies

Total 
contributed 

Called and  

not paid (*)

33 955 

50 227 

27 420 

18 963 

311 358 

299 314 

16 016 

7 944 

160 676 

3 716 

66 884 

12 429 

74 828 

34 980 

162 599 

10 168 

15 041 

8 211 

5 679 

93 237 

89 630 

4 796 

2 379 

48 115 

1 113 

20 028 

3 722 

22 407 

10 475 

48 690 

44 123 

65 268 

35 631 

24 642  

404 595  

388 944 

20 812 

10 323 

2 650 

3 920 

2 140 

1 480 

24 300 

23 360 

1 250 

620 

208 791 

12 540 

4 829 

86 912 

16 151 

97 235 

45 455 

211 289 

290 

5 220 

970 

5 840 

2 730 

- 

Total as at 31 December 2011 

Total as at 31 December 2010 

1 281 309

383 691

1 665 000 

87 310

1 131 309

 333 691

1 465 000 

 100 000

(*) On 18.11.2010, the Council fixed the amount of financial contributions to be paid by each Member State by 
21.01.2012. 

15  Contingent liabilities and commitments (in EUR’000) 

Commitments 

Undisbursed loans 

Undisbursed available-for-sale financial assets 

Guarantees drawn 

Contingent liabilities 

Guarantees undrawn 

31.12.2011

31.12.2010 

701 092

264 567

7 909

808 865 

285 449 

9 484 

20 000

45 000 

Total 

993 568

1 148 798 

90 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
16  Net interest income (in EUR’000) 

The main components of interest and similar income are as follows: 

Cash and cash equivalents 

Loans and receivables 

Interest subsidies 

From 
01.01.2011
to 
31.12.2011

From 
01.01.2010 
to 
31.12.2010 

5 518 

50 800 

3 243 

1 878 

50 299 

2 424 

Total interest and similar income 

59 561

54 601 

The main component of interest and similar expense is as follows: 

From 
01.01.2011
to 
31.12.2011

From 
01.01.2010 
to 
31.12.2010 

Derivative financial instruments 

-940 

-2 591 

Total interest and similar expense 

-940

-2 591 

17  Net fee and commission income (in EUR’000) 

The main components of fee and commission income are as follows: 

Fee and commission on loans and receivables 

Fee and commission on financial guarantees 

From 
01.01.2011
to 
31.12.2011

From 
01.01.2010 
to 
31.12.2010 

1 894 

255 

11 510 

 265 

Total fee and commission income 

2 149

11 775 

The main component of fee and commission expenses is as follows: 

From 
01.01.2011
to 
31.12.2011

From 
01.01.2010 
to 
31.12.2010 

Commission paid to third parties with regard to available-for-sale 
financial assets 

-144 

-372 

Total fee and commission expenses 

-144

-372 

91 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
18  Net result on financial operations (in EUR’000) 

The main components of net result on financial operations are as follows: 

From 
01.01.2011
to 
31.12.2011

From 
01.01.2010 

to 31.12.2010 

Fair value change on derivative financial instruments 

Foreign exchange gain/loss 
Dividend income and realised gain from available-for-sale financial 
assets 

-7 534

8 376

17 228

-12 082 

-5 556 

1 815 

Net result on financial operations 

18 070

-15 823 

19  General administrative expenses (in EUR’000) 

General  administrative  expenses  represent  the  actual  costs  incurred  by  the  EIB  for  managing  the 
Facility less income generated from standard appraisal fees directly charged by the EIB to clients of 
the Facility. 

From 
01.01.2011
to 
31.12.2011

From 
01.01.2010 
to 
31.12.2010 

Actual cost incurred by the EIB 
Income from appraisal fees directly charged to clients of the 
Facility 

-39 937 

-36 028 

1 931 

1 942 

Net general administrative expenses 

-38 006

-34 086 

Following the entry in force of the revised Cotonou Partnership Agreement on the 1st of July 2008, 
general administrative expenses are not covered anymore by the Member States.  

20  Subsequent events 

There  have  been  no  material  post  balance  sheet  events  which  could  require  disclosure  or 
adjustment to the 31 December 2011 financial statements. 

92 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ANNEX TO PART I – CHAPTER 2 (REPORT ON THE FINANCIAL IMPLEMENTATION): 

SITUATION BY COUNTRY AND BY INSTRUMENT 

93 

 
 
 
Notes to the tables: 

•  The figure "0.00" indicates that the corresponding amount is between EUR –4999 and 

EUR 4999. Where no figure is given, the amount is zero. 
Countries with a nil balance in all columns are not listed in the tables. 

•  The  heading  "All  ACP/OCT  countries"  refers  to  projects  which  cover  a  number  of 

countries but are not financed by regional cooperation. 

•  The  heading  "Financial  and  administrative  expenses"  represents  projects  financed  by 

EDF interest or the envelope covering administrative expenditure. 

94 

 
 
 
 
 
 
Table 3.1.1
Overall situation by country (EUR million)

8th EDF

NIP

Total indicative programmes

Non PIN

Cotonou

TOTAL

Lomé

cumulative 2011

Decisions % du NIP Payments % du NIP Decisions % du NIP Payments

% du NIP Decisions Decisions Assigned funds Payments

Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville) 
Democratic Republic of Congo
Djibouti
Equatorial Guinea
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea Bissau
Guinea (Conakry)
Ivory Coast
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome & Principe
Senegal
Seychelles
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe

* Total Africa

83,61
112,11
31,87
173,79
13,06
103,54
29,76
55,18
147,23
10,46
11,30
20,81
16,47
3,63
0,08
143,25
37,39
17,49
121,58
41,89
108,14
55,54
70,80
50,29

161,32
188,04
201,02
59,18
30,07
171,01
49,58
114,01

94,69
8,52
96,80
5,46
64,60
50,00

83,24
112,11
31,27
173,79
13,06
103,54
29,76
55,18
147,23
10,46
11,30
20,81
16,47
3,63
0,08
143,25
37,39
17,30
121,58
41,89
108,14
55,54
70,80
50,29

161,32
187,42
200,73
59,18
30,07
171,01
49,08
112,80

94,69
8,52
96,80
5,46
64,60
50,00

23,48
199,96

23,48
199,84

196,63
137,01
86,63
3.397,29

196,63
137,01
86,63
3.393,40

100%

100%

98%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

99%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

99%

99%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

71,54
111,99
31,27
170,20
13,06
102,40
28,71
54,69
142,48
10,46
9,11
18,96
15,68
3,17
0,08
136,85
37,10
15,81
121,58
40,85
89,32
53,17
62,96
48,34

161,05
183,63
198,24
57,36
30,07
167,09
48,93
111,25

94,59
8,52
94,84
5,46
62,43
48,19

21,77
189,89

194,11
136,33
86,63
3.290,18

86%

100%

98%

98%

100%

99%

96%

99%

97%

100%

81%

91%

95%

87%

100%

96%

99%

90%

100%

98%

83%

96%

89%

96%

100%

98%

99%

97%

100%

98%

99%

98%

100%

100%

98%

100%

97%

96%

93%

95%

99%

99%

100%

97%

95 

110,30
171,64
31,04
277,86
66,93
233,57
55,76
84,79
215,80
16,12
14,93
48,77
27,47
4,42
18,01
337,11
112,30
30,87
257,20
46,95
129,50
159,62
187,03
66,16
24,86
274,37
260,75
320,50
179,74
55,23
400,97
71,97
207,24
5,00
176,08
12,23
238,71
7,23
100,39
50,00
112,26
68,67
477,18
9,71
420,11
420,64
104,94
6.702,92

132%

153%

97%

160%

513%

226%

187%

154%

147%

154%

132%

234%

167%

122%

21805%

235%

300%

177%

212%

112%

120%

287%

264%

132%

170%

139%

159%

304%

184%

234%

145%

182%

186%

143%

247%

132%

155%

100%

292%

239%

214%

307%

121%

197%

26,35
59,49
1,40
104,07
51,36
129,73
25,99
29,61
68,57
5,60
3,63
27,61
11,00
0,79
17,93
184,12
39,91
13,53
95,62
5,07
21,36
102,86
116,23
15,87
24,09
113,05
72,43
119,77
76,00
10,56
229,38
22,89
39,86
5,00
81,39
3,71
141,30
1,77
35,79

124,27
32,73
277,34
9,71
223,23
283,48
18,69
3.104,13

32%

53%

4%

60%

393%

125%

87%

54%

47%

54%

32%

133%

67%

22%

21705%

129%

107%

77%

79%

12%

20%

185%

164%

32%

70%

39%

60%

128%

35%

134%

46%

35%

86%

43%

146%

32%

55%

0%

139%

139%

114%

207%

22%

91%

33,88
117,83

0,04

35,00

55,00
35,00

142,03

0,99

4,00

393,78

110,30
171,64
64,92
395,69
66,93
233,57
55,76
84,79
215,80
16,12
14,93
48,77
27,47
4,42
18,01
337,15
112,30
30,87
257,20
81,95
129,50
159,62
187,03
66,16
24,86
329,37
295,75
320,50
179,74
55,23
543,00
71,97
208,23
5,00
176,08
12,23
238,71
7,23
100,39
50,00
112,26
72,67
477,18
9,71
420,11
420,64
104,94
7.126,70

104,31
171,52
64,76
394,10
66,91
233,01
55,22
84,36
213,43
16,12
14,24
46,92
26,68
4,08
18,01
333,01
111,38
29,50
256,98
81,13
117,00
158,17
182,34
64,72
24,86
329,10
285,54
318,75
170,36
55,23
541,44
71,82
195,63
5,00
176,00
12,23
236,91
7,23
99,12
48,77
111,96
65,50
476,73
9,71
417,61
420,29
104,91
7.032,60

97,89
171,47
63,60
391,92
64,41
232,14
54,70
84,30
211,05
16,07
12,74
46,57
26,68
3,96
18,01
321,02
104,12
29,34
256,53
80,17
110,68
156,03
179,19
64,20
24,09
329,10
281,22
318,00
160,16
40,63
538,50
71,82
192,66
5,00
175,98
12,23
236,14
7,23
98,22
48,19
124,27
57,50
467,23
9,71
417,34
419,80
105,32
6.937,15

 
 
 
Table 3.1.1. (continued)
Overall situation by country (EUR million)

8th EDF

NIP

Total indicative programmes

Non PIN

Cotonou

TOTAL

Lomé

cumulative 2011

Decisions % du NIP Payments % du NIP Decisions % du NIP Payments

% du NIP Decisions Decisions Assigned funds Payments

Antigua & Barbuda
Bahamas
Barbados
Belize
Dominica
Dominican Republic
Grenada
Guyana
Haiti
Jamaica
Saint Kitts & Nevis
Saint Lucia
Saint Vincent & the Grenadines
Suriname
Trinidad & Tobago

* Total Caribbean

* Total Pacific

Fiji
Kiribati
Papua New Guinea
Solomon Islands
Tonga
Tuvalu
Vanuatu
Western Samoa

Caribbean Region
Central Africa Region
East Africa Region
Indian Ocean Region
Intra ACP Allocations
Multiregional PALOP
Pacific Region
Southern Africa Region
West Africa Region

* Total regional cooperation ACP

Administrative and financial expenditure
All ACP countries

0,65
2,20
4,47
10,36
6,47
94,48
0,57
30,32
64,25
52,66
2,72
1,31
1,68
20,06
6,60
298,80
16,91
9,01
43,85
13,86
5,03
1,90
10,23
14,07
114,86
42,49
77,19
163,85
11,47
726,00
10,83
32,89
57,83
204,18
1.326,72

0,64
2,20
4,47
10,36
6,47
94,48
0,57
30,32
64,25
52,66
2,72
1,31
1,68
20,06
6,60
298,79
16,91
9,01
43,85
13,86
5,03
1,90
10,23
14,07
114,86
42,25
77,19
163,51
11,47
723,53
10,83
32,89
57,61
202,38
1.321,67

* Total ACP

5.137,68
0,80

5.128,73
0,80

Anguilla
British Virgin Islands
Montserrat
Saint Helena
Turks & Caicos Islands

Aruba
Netherlands Antilles

* Total British OCT

* Total Dutch OCT

French Polynesia
Mayotte
New Caledonia
Saint Pierre & Miquelon
Wallis & Futuna

* Total French OCT

EDF PTF REGIONAL Projects
EDF PTN REGIONAL Projects

EDF PTU REGIONAL Projects
* Total regional cooperation OCT
* Total OCT
* Total ACP + OCT

1,60
0,06

1,60
0,06

2,45
0,40
3,66
4,06
10,10
0,85
7,49
3,47
1,45
23,36
4,99
1,00
1,64
7,63
37,50
5.175,17

2,45
0,40
3,66
4,06
10,10
0,85
7,49
3,47
1,45
23,36
4,99
1,00
1,64
7,63
37,50
5.166,22

98%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

99%

100%

100%

100%

100%

100%

100%

100%

99%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

0,50
2,20
3,51
10,36
6,24
94,03
0,48
28,82
63,00
52,65
2,72
1,26
1,60
19,19
6,60
293,18
16,91
9,01
39,45
13,52
5,03
1,90
10,23
14,07
110,12
40,16
76,78
158,93
11,47
669,48
10,23
32,73
57,20
194,76
1.251,74

4.945,22
0,80

1,60
0,06

2,45
0,40
3,66
4,06
10,10
0,85
7,45
3,47
1,45
23,32
4,92
0,46
0,12
5,49
35,32
4.980,53

96 

76%

100%

79%

100%

97%

100%

85%

95%

98%

100%

100%

96%

96%

96%

100%

98%

100%

100%

90%

98%

100%

100%

100%

100%

96%

95%

99%

97%

100%

92%

94%

100%

99%

95%

94%

96%

100%

100%

100%

100%

100%

100%

100%

100%

100%

99%

100%

100%

100%

99%

45%

7%

72%

94%

96%

0,64
2,20
7,18
19,06
38,34
134,83
3,42
60,12
79,05
139,10
6,72
50,00
34,15
20,26
14,38
609,45
19,32
9,79
104,93
90,68
5,50
2,40
15,77
19,10
267,51
61,93
77,19
163,51
11,47
723,53
10,83
32,89
57,61
231,19
1.370,17
35,83
1.145,86
10.161,74
0,80
0,51
1,60
0,06
3,00
5,97
0,40
3,66
4,06
13,39
2,03
10,31
3,47
1,45
30,66
4,99
1,00
1,64
7,63
48,31
10.210,05

98%

100%

161%

184%

593%

143%

598%

198%

123%

264%

247%

3808%

2035%

101%

218%

204%

114%

109%

239%

654%

109%

126%

154%

136%

233%

146%

100%

100%

100%

100%

100%

100%

100%

113%

103%

198%

100%

100%

100%

243%

100%

100%

100%

133%

240%

138%

100%

100%

131%

100%

100%

100%

100%

129%

197%

2,71
7,54
31,87
32,38
2,89
27,58
14,80
86,43
4,00
42,76
32,81
0,20
4,78
290,74
2,41
0,78
11,17
76,82
0,38
0,50
5,54
5,03
102,64
13,79

28,81
42,60

1.142,16
4.659,59

0,51

3,00
3,51

3,29
1,18
2,77

7,25

10,76
4.693,03

0%

0%

61%

73%

493%

34%

506%

91%

23%

164%

147%

3256%

1955%

1%

72%

97%

14%

9%

25%

554%

8%

26%

54%

36%

89%

32%

0%

0%

0%

0%

0%

0%

0%

14%

3%

91%

0%

0%

0%

143%

0%

0%

0%

33%

140%

37%

0%

0%

31%

0%

0%

0%

0%

29%

91%

0,64
2,20
7,18
19,19
38,34
134,83
3,42
60,12
79,05
165,94
6,72
50,00
34,15
20,26
14,38
636,42
19,32
9,79
104,93
90,68
5,50
2,40
21,04
22,53
276,21
61,93
77,19
163,51
11,47
723,53
10,83
32,89
57,61
231,19
1.370,17
35,83
1.145,86
10.591,19
0,80
0,51
1,60
0,06
3,00
5,97
0,40
3,66
4,06
13,39
2,03
10,31
3,47
1,45
30,66
4,99
1,00
1,64
7,63
48,31
10.639,50

0,13

26,85

26,98

5,27
3,43
8,70

429,45

429,45

0,61
2,20
6,69
19,19
38,12
134,42
3,40
58,84
78,73
165,93
6,72
49,88
34,11
19,40
14,38
632,62
19,32
9,79
98,90
90,34
5,49
2,40
20,99
22,53
269,77
60,26
76,82
162,27
11,47
697,22
10,40
32,73
57,20
227,99
1.336,34
35,62
1.141,11
10.448,06
0,80
0,51
1,60
0,06
3,00
5,97
0,40
3,66
4,06
13,39
2,03
10,24
3,47
1,45
30,59
4,92
0,46
0,12
5,49
46,10
10.494,16

0
2,20
6,22
18,03
38,11
126,41
3,38
56,39
77,80
165,93
6,72
44,02
34,41
19,39
11,38
610,90
19,32
9,79
93,55
90,34
5,41
2,40
20,99
22,53
264,34
53,95
76,78
158,93
11,47
669,48
10,23
32,73
57,20
223,58
1.294,34
34,91
1.142,16
10.283,80
0,80
0,51
1,60
0,06
3,00
5,97
0,40
3,66
4,06
13,39
2,03
10,21
3,47
1,45
30,56
4,92
0,46
0,12
5,49
48,07
10.329,88

 
 
 
Table 3.1.2
Situation by instrument and by country (EUR million)

8th EDF

annual 2011

Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville) 
Democratic Republic of Congo
Djibouti
Equatorial Guinea
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea Bissau
Guinea (Conakry)
Ivory Coast
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome & Principe
Senegal
Seychelles
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe

NIP

Total indicative programmes

Non PIN

Cotonou

TOTAL

Lomé

Decisions % du NIP Payments

% du 
NIP Decisions

% du 
NIP Payments

% du 
NIP

Decisions Decisions

Assigned 
funds

Payments

(0,36)

(0,60)

(3,29)

(0,18)
(0,81)
(0,00)

(0,42)
(0,71)

(0,23)
(1,79)
(0,29)

(5,67)
(1,10)
(1,21)

(3,98)

(0,00)
(2,21)

(0,12)

83,61
112,11
31,87
173,79
13,06
103,54
29,76
55,18
147,23
10,46
11,30
20,81
16,47
3,63
0,08
143,25
37,39
17,49
121,58
41,89
108,14
55,54
70,80
50,29

161,32
188,04
201,02
59,18
30,07
171,01
49,58
114,01

94,69
8,52
96,80
5,46
64,60
50,00

23,48
199,96

196,63
137,01
86,63

0%

0%

-2%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

-2%

0%

-1%

-1%

0%

0%

0%

-1%

-1%

0%

-1%

0%

0%

0%

-3%

-2%

-1%

0%

0%

-4%

0%

0%

0%

0%

-1%

0%

0%

0%

0,45

1,12

0,03
(0,06)
0,14

(0,46)
(0,33)

(0,40)

(0,29)
1,47

0,09
(0,00)

0,11

(0,00)
0,16
0,06
(0,06)

0,23
(0,14)
0,24

0,22

(0,01)

0,74
(0,23)

(1,01)
2,29

0,61
0,48

1%

0%

0%

1%

0%

0%

0%

0%

0%

0%

-4%

-2%

0%

0%

0%

0%

0%

-2%

1%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

1%

0%

-4%

1%

0%

0%

0%

97 

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

13,24

0,10

5,00

(10,03)

0%

-7%

0%

(0,05)

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

9%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

5%

0%

0%

0%

0%

0%

0%

0%

0%

(0,36)

(0,29)

0,45

(3,04)

(2,22)

(0,21)
(0,18)
(0,07)

(0,02)
(1,33)

(0,01)

(3,53)
(0,00)
(1,46)
0,83
(0,06)
(0,97)
(0,52)
(1,56)
(1,53)

(0,16)
(3,90)
(0,46)
34,09

(2,62)
(0,47)
(1,92)

0,01

(3,29)

(0,18)
(0,81)
(0,00)

(0,42)
(0,71)

(0,23)
(1,79)
(0,29)

(5,67)
(1,10)
(1,21)

(3,98)

(3,17)

(1,01)
(0,64)

(0,05)
0,82

(2,32)
(9,08)

(0,00)
(2,21)

(0,12)
(10,03)

(1,36)
1,42

0,03
(0,06)
0,14

(0,46)
(0,33)

12,84
1,47
(0,29)
2,61
0,05
0,09
(0,00)

0,11

(0,00)
0,13
0,06
25,47
0,10
0,23
(0,14)
1,62

0,22

4,99

0,74
(0,23)

(0,54)
2,29

0,61
0,43

 
 
 
Table 3.1.2 (continued)
Overall situation by country (EUR million)

8th EDF

annual 2011

Antigua & Barbuda
Bahamas
Barbados
Belize
Dominica
Dominican Republic
Grenada
Guyana
Haiti
Jamaica
Saint Kitts & Nevis
Saint Lucia
Saint Vincent & the Grenadines
Suriname
Trinidad & Tobago

* Total Caribbean

* Total Pacific

Fiji
Kiribati
Papua New Guinea
Solomon Islands
Tonga
Tuvalu
Vanuatu
Western Samoa

Caribbean Region
Central Africa Region
East Africa Region
Indian Ocean Region
Intra ACP Allocations
Multiregional PALOP
Pacific Region
Southern Africa Region
West Africa Region

* Total regional cooperation ACP

Administrative and financial expenditure
All ACP countries

* Total ACP

Anguilla
British Virgin Islands
Montserrat
Saint Helena
Turks & Caicos Islands

Aruba
Netherlands Antilles

French Polynesia
Mayotte
New Caledonia
Saint Pierre & Miquelon
Wallis & Futuna

* Total British OCT

* Total Dutch OCT

* Total French OCT

EDF PTF REGIONAL Projects
EDF PTN REGIONAL Projects
EDF PTU REGIONAL Projects

* Total regional cooperation OCT
* Total OCT
* Total ACP + OCT

NIP

Total indicative programmes

Non PIN

Cotonou

TOTAL

Lomé

Decisions % du NIP Payments

% du 
NIP Decisions

% du 
NIP Payments

% du 
NIP

Decisions Decisions

Assigned 
funds

Payments

0,65
2,20
4,47
10,36
6,47
94,48
0,57
30,32
64,25
52,66
2,72
1,31
1,68
20,06
6,60
298,80
16,91
9,01
43,85
13,86
5,03
1,90
10,23
14,07
114,86
42,49
77,19
163,85
11,47
726,00
10,83
32,89
57,83
204,18
1.326,72

5.137,68
0,80

1,60
0,06

2,45
0,40
3,66
4,06
10,10
0,85
7,49
3,47
1,45
23,36
4,99
1,00
1,64
7,63
37,50
5.175,17

(0,01)

(0,42)

(0,43)

(0,23)

(0,23)
(0,63)

(1,07)
(1,05)
(5,05)

(0,22)
(0,52)
(2,55)
(11,10)

(34,74)

(0,07)

(0,07)

(0,02)
(0,02)

(0,29)
(0,37)
(35,11)

-2%

0%

0%

0%

0%

0%

0%

0%

0%

-1%

0%

0%

0%

0%

0%

0%

0%

-3%

0%

0%

0%

0%

0%

0%

0%

-1%

0%

-1%

-9%

-1%

0%

-1%

-1%

-1%

-1%

-1%

0%

-5%

0%

-3%

0%

0%

0%

0%

0%

0%

0%

-1%

0%

0%

0%

0%

-4%

-1%

-1%

0%

0%

0%

0%

0%

0%

0%

1%

0%

0%

0%

0%

(0,04)

0,21
(0,14)

(0,01)

-1%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

3%

0%

3%

0%

0%

0%

1%

2%

1%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

1%

0%

1%

0,02

0,00

5,28
0,02
23,50

(0,04)
1,52
30,28

35,76

0,00

0,00

0,00

98 

0,05
0,05
35,82

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

4%

0%

0%

0%

0%

1,07

4,23

252%

0%

0%

2%

0%

0%

0%

0%

0%

8%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

0%

5,29

0,15

0,15

0,00

(1,05)
22,68

0,02

0,02

0,00
0,02
22,70

0,00

0,00

(10,55)
(20,58)

0,00

0,00

0,00

-
-
(20,58)

(0,01)

(0,00)

(0,27)
(0,02)
(0,50)

(0,42)

(0,22)

(0,04)

1,27
(0,14)

4,22

(0,03)

(0,43)

(1,03)

5,31

(0,23)

(0,02)
(1,90)

(0,00)

(1,93)
(0,31)
(0,04)
(0,45)
(0,08)
5,18
(0,00)
(0,14)
(0,47)
(0,58)
3,11
(0,74)
(8,80)
(13,40)

(0,23)
(0,63)

(1,07)
(1,05)
(5,05)

(0,22)
(0,52)
(2,55)
(11,10)
(1,40)
(10,55)
(59,16)

0,00

0,00

2,20

0,15

2,35

5,28
0,02
23,50

(0,04)
1,52
30,28
0,05
(1,05)
89,63

(0,07)

(0,05)

(0,07)

(0,05)

0,00

0,00

0,00

0,00

0,02

(0,02)
(0,02)

0,00

0,02

-
-

(0,29)
(0,37)
(59,54)

0,00
(0,05)
(13,45)

0,05
0,07
89,70

 
 
 
Table 3.1.3
Situation by instrument and by country (EUR million)

8th EDF

NIP

Lomé

NON NIP

Decisions cumulative 2011

Grants

Interest-rate 
subsidies

Emergency 
Aid

Aid for 
refugees

Risk capital Stabex

Sysmin

Structural 
adjustment

Heavily indebted 
poor countries

Total NON-
NIP

Interest

Total

A Envelope B Envelope

Total

Total state

Cotonou

11,18

15,88

5,76

1,02

0,11

Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville) 
Democratic Republic of Congo
Djibouti
Equatorial Guinea
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea Bissau
Guinea (Conakry)
Ivory Coast
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome & Principe
Senegal
Seychelles
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe
* Total Africa

83,24
112,11
31,27
173,79
13,06
103,54
29,76
55,18
147,23
10,46
11,30
20,81
16,47
3,63
0,08
143,25
37,39
17,30
121,58
41,89
108,14
55,54
70,80
50,29

161,32
187,42
200,73
59,18
30,07
171,01
49,08
112,80

94,69
8,52
96,80
5,46
64,60
50,00

23,48
199,84

196,63
137,01
86,63
3.393,40

2,10

2,58

0,33
8,09
1,10

3,92
12,23
5,24
17,36

4,12

8,43

25,00

3,63
21,35
2,00

8,37
6,64

19,90

0,22

1,11

3,50

1,01

0,40
2,05
0,71

1,91

9,55
3,36

3,29

4,23

4,96
1,71
1,39
4,66

0,28

19,22

1,60
3,64

65,50

75,17

107,60

13,92

68,62
4,77

15,55

66,00
32,85

17,05

35,86

45,81
10,71
35,70
25,78
12,93
93,51
4,23

5,00

45,94
1,77

36,76
102,14

92,03
102,56
3,25
878,50

1,54
19,63
17,41
0,66
6,31

4,94

0,79

5,25

4,49

0,37

82,05
51,05

20,81
11,43

0,45

18,56

0,15

0,20
0,14

25,99

38,70

0,46

5,39

93,05

34,81
9,71
35,57

14,93
504,45

86,73
0,13
88,35

99 

52,76

87,60
9,25
43,99
17,98
22,90
50,98

4,69
9,00

112,60
6,60
9,07
78,57
1,41
21,36
21,70
17,00
14,77

44,73
49,80
79,41
26,92

131,21

39,44

55,40
3,71
52,68

30,40

136,89

94,27
90,70

1.417,80

-

27,06
59,53
2,21
104,07
53,88
130,03
25,99
29,61
68,57
5,66
3,63
27,96
11,00
0,79
17,93
193,85
39,91
13,57
95,62
5,07
21,36
104,08
116,23
15,87
24,86
113,05
73,33
119,77
75,56
25,16
229,96
22,89
39,86
5,00
81,39
3,71
141,90
1,77
35,79

112,26
45,19
277,34
9,71
223,48
283,63
18,30
3.137,38

110,30
171,64
33,48
277,86
66,93
233,57
55,76
84,79
215,80
16,12
14,93
48,77
27,47
4,42
18,01
337,11
77,30
30,87
217,20
46,95
129,50
159,62
187,03
66,16
24,86
274,37
260,75
320,50
134,74
55,23
400,97
71,97
152,66
5,00
176,08
12,23
238,71
7,23
100,39
50,00
112,26
68,67
477,18
9,71
420,11
420,64
104,94
- 6.530,78

3,88
117,83

27,56

31,44
117,83

0,04

35,00

55,00
35,00

35,00

40,00

0,04
35,00

40,00
35,00

55,00
35,00

45,00

45,00

142,03

142,03

0,99

54,58

55,57

4,00

4,00

393,78

202,14

595,92

110,30
171,64
64,92
395,69
66,93
233,57
55,76
84,79
215,80
16,12
14,93
48,77
27,47
4,42
18,01
337,15
112,30
30,87
257,20
81,95
129,50
159,62
187,03
66,16
24,86
329,37
295,75
320,50
179,74
55,23
543,00
71,97
208,23
5,00
176,08
12,23
238,71
7,23
100,39
50,00
112,26
72,67
477,18
9,71
420,11
420,64
104,94
7.126,70

 
 
 
Table 3.1.3 (contined)
Situation by instrument and by country (EUR million)

8th EDF

NIP

Lomé

NON NIP

Decisions cumulative 2011

Grants

Interest-rate 
subsidies

Emergency 
Aid

Aid for 
refugees

Risk capital Stabex

Sysmin

Structural 
adjustment

Heavily indebted 
poor countries

Total NON-
NIP

Interest

Total

A Envelope B Envelope

Total

Total state

Cotonou

Antigua & Barbuda
Bahamas
Barbados
Belize
Dominica
Dominican Republic
Grenada
Guyana
Haiti
Jamaica
Saint Kitts & Nevis
Saint Lucia
Saint Vincent & the Grenadines
Suriname
Trinidad & Tobago

* Total Caribbean

* Total Pacific

Fiji
Kiribati
Papua New Guinea
Solomon Islands
Tonga
Tuvalu
Vanuatu
Western Samoa

Caribbean Region
Central Africa Region
East Africa Region
Indian Ocean Region
Intra ACP Allocations
Multiregional PALOP
Pacific Region
Southern Africa Region
West Africa Region

* Total regional cooperation ACP

Administrative and financial expenditure
All ACP countries

* Total ACP

Anguilla
British Virgin Islands
Montserrat
Saint Helena
Turks & Caicos Islands

Aruba
Netherlands Antilles

French Polynesia
Mayotte
New Caledonia
Saint Pierre & Miquelon
Wallis & Futuna

* Total British OCT

* Total Dutch OCT

* Total French OCT

EDF PTF Regional Projects
EDF PTN Regional Projects
EDF PTU Regional Projects

* Total regional cooperation OCT
* Total OCT
* Total ACP + OCT

0,64
2,20
4,47
10,36
6,47
94,48
0,57
30,32
64,25
52,66
2,72
1,31
1,68
20,06
6,60
298,79
16,91
9,01
43,85
13,86
5,03
1,90
10,23
14,07
114,86
42,25
77,19
163,51
11,47
723,53
10,83
32,89
57,61
202,38
1.321,67

5.128,73
0,80

1,60
0,06

2,45
0,40
3,66
4,06
10,10
0,85
7,49
3,47
1,45
23,36

4,99
1,00
1,64
7,63
37,50
5.166,22

2,71

8,85

0,17

8,70
2,78
30,98

6,61

27,54
4,00

7,00
87,61
2,00
0,50

0,50
3,00
5,00
11,00
19,68

27,10
46,78

-

-

-

0,34

12,50

10,69
11,70
43,00

29,10

2,85

3,10
9,48

47,85
32,19

124,56

12,84

65,39

0,28
0,65
74,64
0,47
0,00
0,81
0,03
76,89

0,48

9,88
2,18

1,59

0,48

13,64

-

-

-

2,71
8,70
31,87
40,35
2,85
29,80
14,80
86,43
4,00
48,69
32,47
0,20
7,78
310,66
2,41
0,78
11,08
76,82
0,47
0,50
5,54
5,03
102,65
19,68

-
-

-
28,81
48,49

-

-

-

0,17
0,41

0,08

0,14

0,64

-

60,27
136,25

0,61
108,21

12,81
1.036,71

16,46
722,37

101,67

1.496,83

1.060,00
1.060,00

1.145,86
4.745,04

-

-

-

-

-

-

3,00
3,00

-
3,00

-

-

1,18

-

-

2,49

3,00

1,18

2,49

-

-

-

0,51

3,00
3,51

3,29
1,18
2,83

7,30

-

-

-

6,41

0,84
0,28
0,20
0,78
20,08

-

1,71
1,71

(4,29)
83,00

0,51

0,51

-
0,29

0,33

0,63

-

-

0,64
2,20
7,18
19,06
38,34
134,83
3,42
60,12
79,05
139,10
6,72
50,00
34,15
20,26
14,38
609,45
19,32
9,79
54,93
90,68
5,50
2,40
15,77
19,10
217,51
61,93
77,19
163,51
11,47
723,53
10,83
32,89
57,61
231,19
1.370,17
35,83
1.145,86
35,83 9.909,60
0,80
0,51
1,60
0,06
3,00
5,97
0,40
3,66
4,06
13,39
2,03
10,31
3,47
1,45
30,66

35,83

-

-

0,13

0,13

26,85

26,85

26,98

-

26,98

50,00

50,00

5,27
3,43
8,70

5,27
3,43
58,70

50,00

429,45

252,14

681,59

-

-

-

-

-

-
1,14
84,14

-
-
136,25

-
-
108,21

-
6,00
1.042,71

-
1,18
723,55

-
2,49
104,16

-
-
1.496,83

-
-
1.060,00

10,81
4.755,85

4,99
1,00
1,64
7,63
48,31
35,83 9.957,91

-

-
429,45

-
252,14

-
681,59

100 

0,64
2,20
7,18
19,19
38,34
134,83
3,42
60,12
79,05
165,94
6,72
50,00
34,15
20,26
14,38
636,42
19,32
9,79
104,93
90,68
5,50
2,40
21,04
22,53
276,21
61,93
77,19
163,51
11,47
723,53
10,83
32,89
57,61
231,19
1.370,17
35,83
1.145,86
10.591,19
0,80
0,51
1,60
0,06
3,00
5,97
0,40
3,66
4,06
13,39
2,03
10,31
3,47
1,45
30,66

4,99
1,00
1,64
7,63
48,31
10.639,50

 
 
 
Table 3.1.4
Situation by instrument and by country (EUR million)

8th EDF

NIP

Lomé

NON NIP

Decisions annual 2011

Interest-rate 
subsidies

Emergency 
Aid

Aid for 
refugees

Risk capital

Stabex

Sysmin

Total NON-
NIP

Interest

Total

A Envelope

B Envelope

Total

Total state

Cotonou

Structural 
adjustment

Heavily 
indebted 
poor 
countries

Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville) 
Democratic Republic of Congo
Djibouti
Equatorial Guinea
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea Bissau
Guinea (Conakry)
Ivory Coast
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome & Principe
Senegal
Seychelles
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe

Grants

(0,36)

(0,60)

(3,29)

(0,18)
(0,81)
(0,00)

(0,42)
(0,71)

(0,23)
(1,79)
(0,29)

(5,67)
(1,10)
(1,21)

(3,98)

(0,00)
(2,21)

(0,12)

(10,03)

(10,03)

* Total Africa

(22,98)

-

-

-

-

-

(10,03)

-

-

(10,03)

-

101 

(0,36)
-
(0,60)
-
-
-
-
-
-
-
-
-
-
-
-
(3,29)
-
(0,18)
(0,81)
(0,00)
-
-
(0,42)
(0,71)
-
(0,23)
(1,79)
(0,29)
-
-
(5,67)
(1,10)
(1,21)
-
-
-
(3,98)
-
-
-
-
(0,00)
(2,21)
-
(0,12)
(10,03)
-
(33,01)

(2,44)

(2,44)

-

(2,44)

(2,44)

(0,36)
-
(3,04)
-
-
-
-
-
-
-
-
-
-
-
-
(3,29)
-
(0,18)
(0,81)
(0,00)
-
-
(0,42)
(0,71)
-
(0,23)
(1,79)
(0,29)
-
-
(5,67)
(1,10)
(1,21)
-
-
-
(3,98)
-
-
-
-
(0,00)
(2,21)
-
(0,12)
(10,03)
-
(35,44)

 
 
 
Table 3.1.4 (continued)
Situation by instrument and by country (EUR million)

8th EDF

NIP

NON NIP

Lomé

Decisions annual 2011

Interest-rate 
subsidies

Emergency 
Aid

Aid for 
refugees

Risk capital

Stabex

Sysmin

Grants

(0,01)

(0,42)

Antigua & Barbuda
Bahamas
Barbados
Belize
Dominica
Dominican Republic
Grenada
Guyana
Haiti
Jamaica
Saint Kitts & Nevis
Saint Lucia
Saint Vincent & the Grenadines
Suriname
Trinidad & Tobago

* Total Caribbean

(0,43)

Fiji
Kiribati
Papua New Guinea
Solomon Islands
Tonga
Tuvalu
Vanuatu
Western Samoa

Caribbean Region
Central Africa Region
East Africa Region
Indian Ocean Region
Intra ACP Allocations
Multiregional PALOP
Pacific Region
Southern Africa Region
West Africa Region

* Total Pacific

* Total regional cooperation ACP

Administrative and financial expenditure
All ACP countries

(0,23)

(0,23)
(0,63)

(1,07)
(1,05)
(5,05)

(0,22)
(0,52)
(2,55)
(11,10)

Anguilla
British Virgin Islands
Montserrat
Saint Helena
Turks & Caicos Islands

* Total ACP

(34,74)

(0,07)

Aruba
Netherlands Antilles

* Total British OCT

(0,07)

* Total Dutch OCT

-

French Polynesia
Mayotte
New Caledonia
Saint Pierre & Miquelon
Wallis & Futuna

* Total French OCT

EDF PTF REGIONAL Projects
EDF PTN REGIONAL Projects
EDF PTU REGIONAL Projects

(0,02)
(0,02)

* Total regional cooperation OCT

(0,29)

-

-

-

(9,16)
(9,16)

-

-

-

-

* Total OCT
* Total ACP + OCT

(0,37)
(35,11)

-
(9,16)

Total NON-
NIP

Interest

Total

A Envelope

B Envelope

Total

Total state

Cotonou

Structural 
adjustment

Heavily 
indebted 
poor 
countries

(0,01)
-
-
-
-
-
-
-
-
(0,42)
-
-
-
-
-
(0,43)
-
(0,23)
-
-
-
-
-
-
(0,23)
(0,63)
-
(1,07)
(1,05)
(5,05)
-
(0,22)
(0,52)
(2,55)
(11,10)
(1,40)
(10,55)
(56,73)
-
-
(0,07)
-
-
(0,07)
-
-
-

-
-
(0,02)
(0,02)
-

(0,29)

(0,37)
(57,10)

(0,01)
-
-
-
-
-
-
-
-
(0,42)
-
-
-
-
-
(0,43)
-
(0,23)
-
-
-
-
-
-
(0,23)
(0,63)
-
(1,07)
(1,05)
(5,05)
-
(0,22)
(0,52)
(2,55)
(11,10)
(1,40)
(10,55)
(59,16)

(0,07)

(0,07)

-
-

-
-

(0,29)

(0,37)
(59,54)

-

-

-

-

-

-

-

-
-

-

-

-

-

(2,44)

(2,44)

-

-

-

-

-

-

-

-

-
(2,44)

-
(2,44)

-

-

-

-

-

-

-

-

-
-

-

-

-

(0,51)
(0,51)

-

-

-

-

-
(0,51)

-

-

-

-

-

-

-

-

-
-

-

-

-

-

-

-

(0,89)
(0,89)

(10,03)

-

-

-

-

-

-

-

-

-
102 
(0,89)

-
(10,03)

-

-

-

-

-

-

-

-

-
-

-

-

-

-

-

-

-

-

-
-

-

-

-

(10,55)
(20,58)

-

-

-

-

-

-

-
(1,40)

(1,40)

-

-

-

-

-
(20,58)

-
(1,40)

 
 
 
Table 3.1.5 
Situation by instrument and by country (EUR million)

8th EDF

NIP

NON NIP

Lomé

Assigned funds cumulative 2011

Interest-rate 
subsidies

Emergency 
Aid

Aid for 
refugees

Grants

Risk capital

Stabex

Sysmin

Structural 
adjustment

Heavily 
indebted poor 
countries

Total NON-
NIP

Interest

Total

A Envelope B Envelope

Total 

Total state

Cotonou

11,18

15,88

5,76

1,02

0,11

Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville) 
Democratic Republic of Congo
Djibouti
Equatorial Guinea
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea Bissau
Guinea (Conakry)
Ivory Coast
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome & Principe
Senegal
Seychelles
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe

* Total Africa

77,26
111,99
31,27
172,27
13,06
102,98
29,22
54,75
144,85
10,46
10,61
18,96
15,68
3,28
0,08
139,12
37,18
15,97
121,58
41,53
95,64
54,14
66,10
48,85

161,05
184,59
198,98
57,68
30,07
169,45
48,93
111,27

94,61
8,52
95,01
5,46
63,34
48,77

23,38
199,38

194,14
136,82
86,63
3.334,92

2,10

2,58

0,33
8,09
1,10

3,92
12,23
5,24
17,36

4,12

8,43

25,00

3,63
21,35
2,00

8,37
6,64

19,90

0,22

1,11

3,50

1,01

0,40
2,05
0,71

1,91

9,55
3,36

3,29

4,23

4,96
1,71
1,39
4,66

0,28

19,22

1,60
3,64

65,50

75,17

107,60

13,92

68,62
4,77

15,55

66,00
32,85

17,05

35,86

45,81
10,71
35,70
25,78
12,93
93,51
4,23

5,00

45,94
1,77

29,76
102,14

92,03
102,56
3,25
871,50

1,54
19,63
17,41
0,66
6,31

4,94

0,79

5,24

4,49

0,37

82,04
51,05

20,81
11,42

0,45

18,56

0,15

0,20
0,14

25,99

38,69

0,46

86,57
0,13
88,20

5,39

92,74

34,81
9,71
35,57

14,90
504,09

103 

52,76

87,60
9,23
43,99
17,98
22,90
50,98

4,69
9,00

112,60
6,60
9,04
78,57
1,41
21,36
21,67
17,00
14,77

44,73
49,80
79,41
26,92

131,21

39,44

55,40
3,71
52,68

30,40

136,89

94,27
90,70

1.417,71

-

27,06
59,53
2,21
104,07
53,86
130,03
25,99
29,61
68,57
5,66
3,63
27,96
11,00
0,79
17,93
193,85
39,91
13,53
95,62
5,07
21,36
104,03
116,23
15,87
24,86
113,05
73,33
119,77
75,55
25,16
229,96
22,89
39,86
5,00
81,39
3,71
141,90
1,77
35,79
0,00
111,96
38,19
277,34
9,71
223,48
283,47
18,28
3.129,77

104,31
171,52
33,48
276,33
66,91
233,01
55,22
84,36
213,43
16,12
14,24
46,92
26,68
4,08
18,01
332,97
77,09
29,50
217,20
46,60
117,00
158,17
182,34
64,72
24,86
274,10
257,92
318,75
133,24
55,23
399,41
71,82
151,13
5,00
176,00
12,23
236,91
7,23
99,12
48,77
111,96
61,57
476,73
9,71
417,61
420,29
104,91
6.464,68

3,72
117,76

27,56

31,28
117,76

0,04

34,53

55,00
27,63

34,29

39,78

0,04
34,29

39,78
34,53

55,00
27,63

37,12

37,12

142,03

142,03

0,99

43,51

44,50

3,94

3,94

385,64

182,27

567,92

104,31
171,52
64,76
394,10
66,91
233,01
55,22
84,36
213,43
16,12
14,24
46,92
26,68
4,08
18,01
333,01
111,38
29,50
256,98
81,13
117,00
158,17
182,34
64,72
24,86
329,10
285,54
318,75
170,36
55,23
541,44
71,82
195,63
5,00
176,00
12,23
236,91
7,23
99,12
48,77
111,96
65,50
476,73
9,71
417,61
420,29
104,91
7.032,60

0,00

 
 
 
Table 3.1.5 (continued)
Situation by instrument and by country (EUR million)

8th EDF

NIP

NON NIP

Lomé

Assigned funds cumulative 2011

Grants

Interest-rate 
subsidies

Emergency 
Aid

Aid for 
refugees

Risk capital

Stabex

Sysmin

Structural 
adjustment

Heavily 
indebted poor 
countries

Total NON-
NIP

Interest

Total

A Envelope B Envelope

Total 

Total state

Cotonou

Antigua & Barbuda
Bahamas
Barbados
Belize
Dominica
Dominican Republic
Grenada
Guyana
Haiti
Jamaica
Saint Kitts & Nevis
Saint Lucia
Saint Vincent & the Grenadines
Suriname
Trinidad & Tobago

* Total Caribbean

* Total Pacific

Fiji
Kiribati
Papua New Guinea
Solomon Islands
Tonga
Tuvalu
Vanuatu
Western Samoa

Caribbean Region
Central Africa Region
East Africa Region
Indian Ocean Region
Intra ACP Allocations
Multiregional PALOP
Pacific Region
Southern Africa Region
West Africa Region

* Total regional cooperation ACP

Administrative and financial expenditure
All ACP countries

* Total ACP

Anguilla
British Virgin Islands
Montserrat
Saint Helena
Turks & Caicos Islands

* Total British OCT

* Total Dutch OCT

Aruba
Netherlands Antilles

French Polynesia
Mayotte
New Caledonia
Saint Pierre & Miquelon
Wallis & Futuna

* Total French OCT

EDF PTF REGIONAL Projects
EDF PTN REGIONAL Projects
EDF PTU REGIONAL Projects

* Total regional cooperation OCT
* Total OCT
* Total ACP + OCT

0,61
2,20
3,98
10,36
6,24
94,07
0,55
29,70
63,93
52,65
2,72
1,30
1,66
19,20
6,60
295,79
16,91
9,01
40,60
13,52
5,03
1,90
10,23
14,07
111,27
41,66
76,82
162,27
11,47
697,22
10,40
32,73
57,20
199,17
1.288,93

5.030,90
0,80

1,60
0,06

2,45
0,40
3,66
4,06
10,10
0,85
7,45
3,47
1,45
23,32
4,92
0,46
0,12
5,49
35,32
5.066,22

6,41

0,84
0,28
0,20
0,78
20,08

0,00

1,71
1,71

(4,29)
83,00

0,51

0,51

-
0,29

0,33

0,63

2,71

8,85

0,17

8,70
2,78
30,98

6,61

27,54
4,00

7,00
87,61
2,00
0,50

0,50
3,00
5,00
11,00
18,60

0,34

11,84

10,69
11,70
43,00

29,10

2,84

3,10
9,48

47,74
32,16

124,42

12,18

65,39

-

0,28
0,64
74,64
0,46
0,00
0,81
0,03
76,88

0,48

9,88
2,18

1,59

0,48

13,64

-

0,17
0,41

0,08

0,14

0,64

-

-

27,10
45,70

-

-

-

-

60,27
136,25

(1,64)
105,96

12,90
1.028,71

13,87
719,26

100,86

1.496,74

1.060,00
1.060,00

1.141,11
4.730,77

-

-

-

-

-

-

3,00
3,00

-
3,00

-

-

1,18

-

-

2,46

3,00

1,18

2,46

-

-

-

-

-

-

0,51

3,00
3,51

-
3,29
1,18
2,79

7,27

-
1,14
84,14

-
-
136,25

-
-
105,96

-
6,00
1.034,71

-
1,18
720,44

-
2,46
103,32

-
-
1.496,74

-
-
1.060,00

-
10,78
4.741,55

-
-
35,62

104 

0,00
0,00
2,71
8,70
31,87
40,35
2,84
29,14
14,80
86,43
4,00
48,58
32,44
0,20
7,78
309,86
2,41
0,78
11,07
76,82
0,46
0,50
5,54
5,03
102,63
18,60
0,00
0,00
0,00
0,00
0,00
0,00
0,00
28,81
47,41

0,61
2,20
6,69
19,06
38,12
134,42
3,40
58,84
78,73
139,09
6,72
49,88
34,11
19,40
14,38
605,64
19,32
9,79
51,68
90,34
5,49
2,40
15,77
19,10
213,90
60,26
76,82
162,27
11,47
697,22
10,40
32,73
57,20
227,99
1.336,34
35,62
1.141,11
9.797,29
0,80
0,51
1,60
0,06
3,00
5,97
0,40
3,66
4,06
13,39
2,03
10,24
3,47
1,45
30,59
4,92
0,46
0,12
5,49
46,10
9.843,39

0,13

0,13

26,85

26,85

26,98

-

26,98

47,22

47,22

5,22
3,43
8,65

47,22

5,22
3,43
55,87

-

-

-

421,27

229,50

650,77

-

-

-

-

-

-

-
-
421,27

-
-
229,50

-
-
650,77

0,61
2,20
6,69
19,19
38,12
134,42
3,40
58,84
78,73
165,93
6,72
49,88
34,11
19,40
14,38
632,62
19,32
9,79
98,90
90,34
5,49
2,40
20,99
22,53
269,77
60,26
76,82
162,27
11,47
697,22
10,40
32,73
57,20
227,99
1.336,34
35,62
1.141,11
10.448,06
0,80
0,51
1,60
0,06
3,00
5,97
0,40
3,66
4,06
13,39
2,03
10,24
3,47
1,45
30,59
4,92
0,46
0,12
5,49
46,10
10.494,16

-

-
35,62

35,62

-

-

-

 
 
 
Table 3.1.6
Situation by instrument and by country (EUR million)

8th EDF

NIP

NON NIP

Lomé

Assigned funds annual 2011

Interest-rate 
subsidies

Emergency 
Aid

Grants

Aid for refugees

Risk capital

Stabex

Sysmin

Structural 
adjustment

Heavily 
indebted poor 
countries

Total NON-NIP Interest

Total

A Envelope

B Envelope

Total 

Total state

Cotonou

Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville) 
Democratic Republic of Congo
Djibouti
Equatorial Guinea
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea Bissau
Guinea (Conakry)
Ivory Coast
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome & Principe
Senegal
Seychelles
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe

(0,29)

(0,60)

(0,21)
(0,18)
(0,07)

(0,02)
(1,33)

(0,01)

(3,53)

(1,46)
0,91

(0,97)
(0,52)
(1,56)
(1,53)

(0,16)
(1,91)
(0,46)
(0,13)

(2,62)
(0,47)
(0,86)

0,01

(3,17)

(1,01)
(0,64)

(0,07)
0,82

(2,32)
(0,16)

(8,92)

* Total Africa

(24,52)

-

0,00

0,00

-

0,00

(8,92)

0,00

-

105 

(1,62)

(1,62)

(0,00)

(0,00)

(0,06)

(0,08)

(0,08)
(0,06)

(1,98)

(1,98)

34,22

34,22

(1,06)

(1,06)

0,02

0,02

(0,29)

(0,60)

(0,21)
(0,18)
(0,07)

(0,02)
(1,33)

(0,01)

(3,53)

(1,46)
0,91

(0,97)
(0,52)
(1,56)
(1,53)

(0,16)
(1,91)
(0,46)
(0,13)

(2,62)
(0,47)
(0,86)

0,01

(3,17)

(1,01)
(0,64)

(0,07)
0,82

(2,32)
(9,08)

-

(33,44)

(2,02)

31,45

29,44

(0,29)

(2,22)

(0,21)
(0,18)
(0,07)

(0,02)
(1,33)

(0,01)

(3,53)
(0,00)
(1,46)
0,83
(0,06)
(0,97)
(0,52)
(1,56)
(1,53)

(0,16)
(3,90)
(0,46)
34,09

(2,62)
(0,47)
(1,92)

0,01

(3,17)

(1,01)
(0,64)

(0,05)
0,82

(2,32)
(9,08)

(4,00)

(8,92)
0,00
(8,92)

 
 
 
Table 3.1.6 (continued)
Situation by instrument and by country (EUR million)

8th EDF

NIP

NON NIP

Lomé

Assigned funds annual 2011

Antigua & Barbuda
Bahamas
Barbados
Belize
Dominica
Dominican Republic
Grenada
Guyana
Haiti
Jamaica
Saint Kitts & Nevis
Saint Lucia
Saint Vincent & the Grenadines
Suriname
Trinidad & Tobago

Interest-rate 
subsidies

Emergency 
Aid

Grants

(0,00)

Aid for refugees

Risk capital

Stabex

Sysmin

Structural 
adjustment

Heavily 
indebted poor 
countries

(0,27)
(0,02)
(0,50)

(0,22)

(0,03)

* Total Caribbean

(1,03)

Fiji
Kiribati
Papua New Guinea
Solomon Islands
Tonga
Tuvalu
Vanuatu
Western Samoa

Caribbean Region
Central Africa Region
East Africa Region
Indian Ocean Region
Intra ACP Allocations
Multiregional PALOP
Pacific Region
Southern Africa Region
West Africa Region

* Total Pacific

* Total regional cooperation ACP

Administrative and financial expenditure
All ACP countries

(0,02)
(0,31)

(0,34)
(0,31)
(0,04)
(0,45)
(0,08)
5,18
(0,00)
(0,14)
(0,47)
(0,58)
3,11

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(8,35)
(8,35)

0,00

(1,02)
(1,02)

0,00

0,57
0,57

(8,92)

0,00

* Total ACP

(22,78)

(0,05)

* Total British OCT

(0,05)

* Total Dutch OCT

Anguilla
British Virgin Islands
Montserrat
Saint Helena
Turks & Caicos Islands

Aruba
Netherlands Antilles

French Polynesia
Mayotte
New Caledonia
Saint Pierre & Miquelon
Wallis & Futuna

* Total French OCT

EDF PTF REGIONAL Projects
EDF PTN REGIONAL Projects
EDF PTU REGIONAL Projects

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(8,92)

-

-

-

-
-
0,00

* Total regional cooperation OCT
* Total OCT
* Total ACP + OCT

0,00
(0,05)
(22,83)

-
-
(8,35)

-
-
0,00

-
-
(1,02)

-
-
0,00

-
-
0,57

106 

-

-

-

-

-

-

-

-
-

Total NON-NIP Interest

Total

A Envelope

B Envelope

Total

Total state

Cotonou

(0,00)

(0,27)
(0,02)
(0,50)

(0,22)

(0,03)

(1,03)

(0,02)
(0,31)

(0,34)
(0,31)
(0,04)
(0,45)
(0,08)
5,18
(0,00)
(0,14)
(0,47)
(0,58)
3,11
(0,74)
(8,80)
(41,25)
-
-
(0,05)
-
-
(0,05)

0,00

0,00

-

-

-

(8,80)
(17,72)

-

-

-

-

-
(0,74)

(0,74)

-

-

-

(0,00)

(0,27)
(0,02)
(0,50)

(0,22)

(0,03)

(1,03)

(0,02)
(1,90)

-

-

-

(1,59)

(1,59)

(0,00)

(0,00)

(0,00)

(0,00)

(1,59)

(1,59)

-

-

-

(2,02)

29,87

27,85

-

-

-

-

-

-

-

-

-

(1,93)
(0,31)
(0,04)
(0,45)
(0,08)
5,18
(0,00)
(0,14)
(0,47)
(0,58)
3,11
(0,74)
(8,80)
(13,40)

(0,05)

0,00

0,00

0,00
(0,05)
(13,45)

-
0,00
(17,72)

-
-
(0,74)

(0,05)
(41,30)

-
-
(2,02)

-
-
29,87

-
-
27,85

 
 
 
Table 3.1.7 
Situation by instrument and by country (EUR million)

8th EDF 

NIP

NON NIP

Lomé

Payments cumulative 2011

Interest-rate 
subsidies

Emergency Aid

Aid for 
refugees

Grants

Risk capital

Stabex

Sysmin

Structural 
adjustment

Heavily 
indebted poor 
countries

Total NON-
NIP

Interest

Total

A Envelope

B Envelope

Total 

Total state

Cotonou

11,18

15,17

5,76

0,97

0,11

Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville) 
Democratic Republic of Congo
Djibouti
Equatorial Guinea
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea Bissau
Guinea (Conakry)
Ivory Coast
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome & Principe
Senegal
Seychelles
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe

* Total Africa

71,54
111,99
31,27
170,20
13,06
102,40
28,71
54,69
142,48
10,46
9,11
18,96
15,68
3,17
0,08
136,85
37,10
15,81
121,58
40,85
89,32
53,17
62,96
48,34

161,05
183,63
198,24
57,36
30,07
167,09
48,93
111,25

94,59
8,52
94,84
5,46
62,43
48,19

21,77
189,89

194,11
136,33
86,63
3.290,18

1,30

2,58

0,33
8,09
1,10

3,92
1,41
5,24
17,36

4,12

4,72

22,50

3,63
21,00
2,00

8,37
5,66

19,13

0,22

1,11

3,50

1,01

0,40
2,05
0,71

1,91

9,55
3,36

3,29

4,23

4,96
1,71
1,39
4,66

0,28

19,22

1,60
3,64

50,16

75,17

102,29

13,92

68,32
4,77

15,55

57,15
32,85

17,05

35,86

45,81
10,71
35,70
25,78
9,16
92,93
4,23

5,00

45,34
1,77

28,01
102,14

92,03
102,56
3,25
855,66

1,54
19,63
17,41
0,66
6,31

4,89

0,79

5,35

4,49

0,37

80,86
51,05

20,81
10,53

19,00

25,99

38,69

5,39

105,05

34,81
9,71
35,32

15,31
514,94

107 

0,45

0,15

0,20
0,14

0,46

86,57
0,13
88,20

52,76

87,60
9,23
43,99
17,98
22,90
50,98

4,69
9,00

112,60
6,60
9,04
78,57
1,41
21,36
21,67
17,00
14,77

44,73
49,80
79,41
26,92

131,21

39,44

55,40
3,71
52,68

30,40

136,89

94,27
90,70

1.417,71

-

26,35
59,49
1,40
104,07
51,36
129,73
25,99
29,61
68,57
5,60
3,63
27,61
11,00
0,79
17,93
184,12
39,91
13,53
95,62
5,07
21,36
102,86
116,23
15,87
24,09
113,05
72,43
119,77
76,00
10,56
229,38
22,89
39,86
5,00
81,39
3,71
141,30
1,77
35,79

124,27
32,73
277,34
9,71
223,23
283,48
18,69
3.104,13

97,89
171,47
32,67
274,27
64,41
232,14
54,70
84,30
211,05
16,07
12,74
46,57
26,68
3,96
18,01
320,97
77,01
29,34
217,20
45,92
110,68
156,03
179,19
64,20
24,09
274,10
256,06
318,00
133,36
40,63
396,47
71,82
151,12
5,00
175,98
12,23
236,14
7,23
98,22
48,19
124,27
54,50
467,23
9,71
417,34
419,80
105,32
6.394,31

-

3,36
117,64

27,56

30,93
117,64

0,04

34,24

55,00
25,16

27,11

39,33

0,04
27,11

39,33
34,24

55,00
25,16

26,80

26,80

142,03

142,03

0,99

40,56

41,55

3,00

3,00

381,49

161,36

542,84

97,89
171,47
63,60
391,92
64,41
232,14
54,70
84,30
211,05
16,07
12,74
46,57
26,68
3,96
18,01
321,02
104,12
29,34
256,53
80,17
110,68
156,03
179,19
64,20
24,09
329,10
281,22
318,00
160,16
40,63
538,50
71,82
192,66
5,00
175,98
12,23
236,14
7,23
98,22
48,19
124,27
57,50
467,23
9,71
417,34
419,80
105,32
6.937,15

 
 
 
Table 3.1.7 (continued)
Situation by instrument and by country (EUR million)

8th EDF 

NIP

NON NIP

Lomé

Payments cumulative 2011

Interest-rate 
subsidies

Emergency Aid

Aid for 
refugees

Grants

Risk capital

Stabex

Sysmin

Structural 
adjustment

Heavily 
indebted poor 
countries

Total NON-
NIP

Interest

Total

A Envelope

B Envelope

Total 

Total state

Cotonou

Antigua & Barbuda
Bahamas
Barbados
Belize
Dominica
Dominican Republic
Grenada
Guyana
Haiti
Jamaica
Saint Kitts & Nevis
Saint Lucia
Saint Vincent & the Grenadines
Suriname
Trinidad & Tobago

* Total Caribbean

* Total Pacific

Fiji
Kiribati
Papua New Guinea
Solomon Islands
Tonga
Tuvalu
Vanuatu
Western Samoa

Caribbean Region
Central Africa Region
East Africa Region
Indian Ocean Region
Intra ACP Allocations
Multiregional PALOP
Pacific Region
Southern Africa Region
West Africa Region

* Total regional cooperation ACP

Administrative and financial expenditure
All ACP countries

* Total ACP

Anguilla
British Virgin Islands
Montserrat
Saint Helena
Turks & Caicos Islands

Aruba
Netherlands Antilles

* Total British OCT

* Total Dutch OCT

French Polynesia
Mayotte
New Caledonia
Saint Pierre & Miquelon
Wallis & Futuna

* Total French OCT

EDF PTF REGIONAL Projects
EDF PTN REGIONAL Projects

EDF PTU REGIONAL Projects

* Total regional cooperation OCT
* Total OCT
* Total ACP+OCT

0,50
2,20
3,51
10,36
6,24
94,03
0,48
28,82
63,00
52,65
2,72
1,26
1,60
19,19
6,60
293,18
16,91
9,01
39,45
13,52
5,03
1,90
10,23
14,07
110,12
40,16
76,78
158,93
11,47
669,48
10,23
32,73
57,20
194,76
1.251,74

4.945,22
0,80

1,60
0,06

2,45
0,40
3,66
4,06
10,10
0,85
7,45
3,47
1,45
23,32
4,92
0,46

0,12
5,49
35,32
4.980,53

2,71

0,88

0,17

6,41

0,43
0,28
0,20
0,78
11,70

-

1,71
1,71

4,69
68,26

0,51

0,51

-
0,29

0,33

0,63

0,17
0,41

0,08

0,14

0,64

-

60,27
136,25

-

-

-

7,54
2,78
30,98

5,11

27,54
4,00

4,00
81,95
2,00
0,50

0,50
3,00
5,00
11,00
13,79

27,10
40,89

-

-

-

0,34

11,77

10,69
11,70
43,00

29,10

2,89

3,10
9,48

42,32
32,53

119,42

12,12

65,39

0,28
0,74
74,64
0,38
0,00
0,81
0,03
76,89

0,48

9,88
2,18

1,59

0,48

13,64

-

-

-

2,71
7,54
31,87
32,38
2,89
27,58
14,80
86,43
4,00
42,76
32,81
0,20
4,78
290,74
2,41
0,78
11,17
76,82
0,38
0,50
5,54
5,03
102,64
13,79

28,81
42,60

-

-

-

(2,61)
99,68

20,46
1.009,95

(0,63)
710,61

100,79

1.496,74

1.060,00
1.060,00

1.142,16
4.682,27

-

-

-

3,00
3,00

-
3,00

-

-

1,18

-

-

2,44

3,00

1,18

2,44

-

-

-

-

-

-

0,51

3,00
3,51

-
3,29
1,18
2,77

7,25

-

-

-
34,91

34,91

-

-

-

-
1,14
69,40

-
-
136,25

-
-
99,68

-
6,00
1.015,95

-
1,18
711,79

108 

-
2,44
103,23

-
-
1.496,74

-
-
1.060,00

-
10,76
4.693,03

-
-
34,91

0,50
2,20
6,22
17,90
38,11
126,41
3,38
56,39
77,80
139,09
6,72
44,02
34,41
19,39
11,38
583,92
19,32
9,79
50,62
90,34
5,41
2,40
15,77
19,10
212,76
53,95
76,78
158,93
11,47
669,48
10,23
32,73
57,20
223,58
1.294,34
34,91
1.142,16
9.662,41
0,80
0,51
1,60
0,06
3,00
5,97
0,40
3,66
4,06
13,39
2,03
10,21
3,47
1,45
30,56
4,92
0,46

0,12
5,49
46,07
9.708,48

0,13

0,13

26,85

26,85

26,98

-

26,98

42,93

42,93

5,22
3,43
8,64

42,93

5,22
3,43
51,58

-

-

-

417,11

204,29

621,40

-

-

-

-

-

-

-

0,00

0,00

-
-
417,11

-
-
204,29

-
-
621,40

0,50
2,20
6,22
18,03
38,11
126,41
3,38
56,39
77,80
165,93
6,72
44,02
34,41
19,39
11,38
610,90
19,32
9,79
93,55
90,34
5,41
2,40
20,99
22,53
264,34
53,95
76,78
158,93
11,47
669,48
10,23
32,73
57,20
223,58
1.294,34
34,91
1.142,16
10.283,80
0,80
0,51
1,60
0,06
3,00
5,97
0,40
3,66
4,06
13,39
2,03
10,21
3,47
1,45
30,56
4,92
0,46

0,12
5,49
46,07
10.329,88

 
 
 
Table 3.1.8
Situation by instrument and by country (EUR million)

8th EDF

NIP

NON NIP

Lomé

Cotonou

Payments annual 2011

Interest-rate 
subsidies

Emergency 
Aid

Aid for 
refugees

Risk capital

Stabex

Sysmin

Structural 
adjustment

Heavily 
indebted poor 
countries

Total NON-
NIP

Interest

Total

A Envelope B Envelope

Total

Total state

Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville) 
Democratic Republic of Congo
Djibouti
Equatorial Guinea
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea Bissau
Guinea (Conakry)
Ivory Coast
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome & Principe
Senegal
Seychelles
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe

* Total Africa

Grants

0,45

1,12

0,03
(0,06)
0,14

(0,46)
(0,33)

(0,40)

(0,29)
1,47

0,09
(0,00)

0,11

(0,00)
0,16
0,06
(0,06)

0,23
(0,14)
0,24

0,22

(0,01)

0,74
(0,23)

(1,01)
2,29

0,61
0,48

5,47

0,45

1,12

0,30

(1,36)

(1,36)
0,30

0,03
(0,06)
0,14

(0,46)
(0,33)

12,84

(0,29)
1,47

0,09
(0,00)

0,11

(0,00)
0,16
0,06
(0,06)
0,10
0,23
(0,14)
0,24

0,22

4,99

0,74
(0,23)

(1,01)
2,29

0,61
0,43

1,47

1,14

1,47

1,14
0,05

0,05

(0,03)

(0,03)

25,53

25,53

1,38

1,38

0,47

0,47

0,45

(1,36)
1,42

0,03
(0,06)
0,14

(0,46)
(0,33)

12,84
1,47
(0,29)
2,61
0,05
0,09
(0,00)

0,11

(0,00)
0,13
0,06
25,47

0,23
(0,14)
1,62

4,99

0,74
(0,23)

(0,54)
2,29

0,61
0,43

0,03

12,63

0,58

13,24

0,10

5,00

0,10

5,00

(0,05)

(0,05)

-

-

0,03

17,73

0,58

(0,05)

-

-

18,29

-

23,76

0,78

28,16

28,94

52,70

109 

 
 
 
Table 3.1.8 (continued)
Situation by instrument and by country (EUR million)

8th EDF

NIP

NON NIP

Lomé

Cotonou

Payments annual 2011

Interest-rate 
subsidies

Emergency 
Aid

Aid for 
refugees

Risk capital

Stabex

Sysmin

Structural 
adjustment

Heavily 
indebted poor 
countries

Total NON-
NIP

Interest

Total

A Envelope B Envelope

Total 

Total state

Antigua & Barbuda
Bahamas
Barbados
Belize
Dominica
Dominican Republic
Grenada
Guyana
Haiti
Jamaica
Saint Kitts & Nevis
Saint Lucia
Saint Vincent & the Grenadines
Suriname
Trinidad & Tobago

Grants

(0,04)

0,21
(0,14)

(0,01)

* Total Caribbean

0,02

* Total Pacific

0,00

Fiji
Kiribati
Papua New Guinea
Solomon Islands
Tonga
Tuvalu
Vanuatu
Western Samoa

Caribbean Region
Central Africa Region
East Africa Region
Indian Ocean Region
Intra ACP Allocations
Multiregional PALOP
Pacific Region
Southern Africa Region
West Africa Region

5,28
0,02
23,50

(0,04)
1,52
30,28

* Total regional cooperation ACP

Administrative and financial expenditure
All ACP countries

* Total ACP

35,76

Anguilla
British Virgin Islands
Montserrat
Saint Helena
Turks & Caicos Islands

Aruba
Netherlands Antilles

* Total British OCT

-

* Total Dutch OCT

0,00

French Polynesia
Mayotte
New Caledonia
Saint Pierre & Miquelon
Wallis & Futuna

* Total French OCT

EDF PTF REGIONAL Projects

EDF PTN REGIONAL Projects

EDF PTU REGIONAL Projects

* Total regional cooperation OCT
* Total OCT
* Total ACP + OCT

0,00

0,05

0,05
0,05
35,82

1,00

0,07

4,23

1,00

4,23

0,07

0,15

0,15

0,00

-

-

-

-

-

-

-

-

-

-

-

-

-

(0,65)
(0,62)

18,88

(0,40)
4,40

0,01

0,00

0,00

-

-

-

-

-

-

-
-
(0,62)

-
-
18,88

110 
-
-
4,40

-

0,02

0,02

-
0,02
0,03

-

-

-
-
-

-

-

-
-
-

-

-

-

-

-

-

-
-
-

-

-

-

-

-

-

-
-
-

1,07

4,23

5,29

0,15

0,15

-

-

-

(1,05)
22,68

-
0,05

0,05

-

0,02

0,02

-

-

(0,04)

1,27
(0,14)

4,22

5,31

0,15

0,15

5,28
0,02
23,50

(0,04)
1,52
30,28
0,05
(1,05)
58,49

-

0,00

0,02

0,02

0,05

-

-

-

(0,04)

1,27
(0,14)

4,22

-

-

5,31

2,20

2,20

2,20

2,20

2,20

2,35

5,28
0,02
23,50

(0,04)
1,52
30,28
0,05
(1,05)
89,63

-

0,00

0,02

0,02

0,05

-

-

0,78

30,35

31,14

-

-

-

-

-

-

-
0,02
22,70

-
-
0,05

0,05
0,07
58,56

-
-
0,78

-
-
30,35

-
-
31,14

0,05
0,07
89,70

 
 
 
Table 3.2.1
Overall situation by state (EUR million)

Cotonou

 9th EDF cumulative

NIP

A Envelope

B Envelope

Total

2011

Decisions % of NIP

Payments % of NIP

Decisions

Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville) 

Democratic Republic of Congo

Djibouti
Equatorial Guinea
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea Bissau
Guinea (Conakry)
Ivory Coast
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome & Principe
Senegal
Seychelles
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe

* Total Africa

127,96
313,52
52,30
343,61
214,17
166,27
49,98
108,98
205,45
31,74
116,27

426,55

40,39
8,99
116,69
532,69
34,35
52,74
298,14
62,69
90,82
5,37
288,21
103,79
99,89
406,88
248,99
415,00
120,85
66,51
426,88
97,44
352,90
469,75
217,65
12,85
288,43
4,48
182,14
193,33
273,53
36,42
398,84
20,60
270,37
367,43
32,19
8.795,00

127,96
311,88
52,07
343,61
214,17
166,27
49,98
108,98
205,03
31,73
116,27

100%
99%
100%
100%
100%
100%
100%
100%
100%
100%
100%

424,87

100%

40,39
8,99
84,64
532,69
34,35
52,74
298,14
62,69
90,27
5,37
288,21
103,68
99,89
401,70
247,07
414,07
120,85
66,51
426,88
96,74
350,71
469,75
217,65
12,85
285,30
4,48
182,14
193,33
263,53
36,42
398,84
20,60
262,32
362,91
32,19
8.721,69

100%
100%
73%
100%
100%
100%
100%
100%
99%
100%
100%
100%
100%
99%
99%
100%
100%
100%
100%
99%
99%
100%
100%
100%
99%
100%
100%
100%
96%
100%
100%
100%
97%
99%
100%

99%

98,36
299,10
49,94
329,35
184,50
151,77
36,26
85,03
172,72
24,56
110,28

393,61

21,80
6,08
73,59
512,97
23,34
45,63
260,97
46,09
83,67
4,86
204,49
80,99
76,00
372,18
204,16
406,48
94,95
62,50
392,20
92,84
337,05
367,93
214,45
11,25
251,43
3,58
156,92
175,93
108,38
28,85
373,07
14,10
249,93
326,38
28,81
7.649,33

77%
95%
95%
96%
86%
91%
73%
78%
84%
77%
95%

92%

54%
68%
63%
96%
68%
87%
88%
74%
92%
91%
71%
78%
76%
91%
82%
98%
79%
94%
92%
95%
96%
78%
99%
88%
87%
80%
86%
91%
40%
79%
94%
68%
92%
89%
89%

87%

111 

% of 
NIP

21%
0%
15%
0%
24%
5%
11%
8%
9%
20%
5%

23%

26,70
1,05
8,06

52,41
8,20
5,50
9,12
17,59
6,19
6,36

99,96

26,60

0,46
45,96
1,10
1,80
2,80
3,20
28,94

23,76
6,25
21,30
42,09
27,26
0,67
5,49
0,61
15,33

0%
0%
0%
9%
3%
3%
1%
5%
32%
206,35 3842%
9%
0%
24%
2%
9%
10%
23%
1%
1%
1%
4%
0%
0%
16%
4%
16%
31%
0%
29%
0%
1%
202%
14%
5%
76%

4,55
41,60
38,60
19,19
24,30
979,62

2,00
11,60
0,70
56,08

79,93

11%

Payments % of NIP

Decisions

Assigned funds

Payments

24,91
1,05
8,06

50,14
6,86
5,50
9,06
15,21
5,72
6,14

90,09

19%
0%
15%
0%
23%
4%
11%
8%
7%
18%
5%

21%

19,91

0,46
43,58
0,74
1,20
1,83
3,20
21,08

23,74
6,25
20,12
40,14
26,86
0,67
3,39
0,61
13,01

0%
0%
0%
8%
2%
2%
1%
5%
23%
173,64 3233%
7%
0%
24%
2%
8%
10%
22%
1%
1%
1%
4%
0%
0%
13%
3%
16%
29%
0%
29%
0%
1%
152%
14%
5%
71%

4,55
31,24
36,73
18,94
22,73
879,02

1,65
8,90
0,70
52,31

78,13

10%

168,03
313,28
60,13
353,55
332,51
174,47
56,38
118,11
223,91
37,93
138,05

582,70

40,39
8,99
85,10
608,75
35,56
57,14
302,41
66,16
157,04
211,72
326,75
104,29
123,67
407,94
274,86
458,72
148,42
67,26
440,91
97,35
366,04
589,24
219,51
14,85
297,73
5,18
261,90
193,33
450,63
37,66
403,43
80,91
307,31
382,37
56,75
10.249,31

160,94
305,40
59,55
347,55
328,55
170,89
52,31
114,47
212,69
36,84
133,70

566,80

38,55
8,50
82,11
603,46
32,26
55,68
276,17
55,80
152,26
206,47
312,13
97,43
118,88
386,80
255,16
452,15
141,70
65,80
428,38
93,83
359,17
522,37
218,52
14,15
291,37
5,08
251,11
183,47
310,01
36,67
387,66
75,49
301,84
366,67
56,22
9.733,03

134,88
300,38
58,00
338,16
299,53
158,63
42,12
94,09
189,00
30,28
130,95

538,50

21,80
6,08
74,04
574,41
24,19
49,41
264,27
49,57
137,12
178,50
232,88
81,56
99,73
378,43
230,36
449,13
122,13
63,25
403,77
93,45
350,06
467,79
216,31
12,90
261,02
4,28
230,46
175,93
293,54
29,80
377,65
61,51
292,83
345,60
51,80
9.020,08

 
 
 
Table 3.2.1 (continued)
Overall situation by state (EUR million)

Cotonou

 9 th EDF cumulative

NIP

A Envelope

B Envelope

Total

2011

Decisions % of NIP

Payments % of NIP

Decisions

Payments % of NIP

Decisions

Assigned funds

Payments

Antigua & Barbuda
Bahamas
Barbados
Belize
Dominica
Dominican Republic
Grenada
Guyana
Haiti
Jamaica
Saint Kitts & Nevis
Saint Lucia
Saint Vincent & the Grenadines
Suriname
Trinidad & Tobago

Cook Islands
East Timor
Fiji
Kiribati
Marshall Islands
Micronesia
Nauru
Niue
Palau
Papua New Guinea
Solomon Islands
Tonga
Tuvalu
Vanuatu
Western Samoa

* Total Caribbean

* Total Pacific

Caribbean Region
Central Africa Region
Eastern, Southern Africa and the Indian Ocean 
Multiregional PALOP
Pacific Region
Regional cooperation ACP
Southern Africa Region 
West Africa Region

* Total regional cooperation ACP

Administrative and financial expenditure
All ACP countries

* Total ACP

Anguilla
British Virgin Islands
Cayman Islands
Falkland Islands
Montserrat
Pitcairn Islands
Saint Helena
Turks & Caicos Islands

Aruba
Netherlands Antilles

French Polynesia
Mayotte
New Caledonia
Saint Pierre & Miquelon
Wallis & Futuna

* Total British OCT

* Total Dutch OCT

Regional cooperation OCT

* Total regional cooperation OCT

* Total French OCT

All OCT countries

* Total OCT
* Total ACP + OCT

6,20
6,58
11,88
7,75
10,47
112,54
19,87
50,68
113,47
50,47
5,04
18,04
13,72
46,05
31,75
504,50
2,90
18,00
23,52
8,80
3,50
4,80
1,80
2,00
2,00
81,53
14,21
5,72
4,47
15,15
21,80
210,21
107,23
63,35
288,24
25,67
40,35
2.875,82
121,58
252,45
3.774,69

171,19
13.455,59
12,24
1,00
-
4,55
23,16
2,35
17,94
14,66
75,90
11,00
50,47
61,47
20,93
24,24
30,21
18,94
16,86
111,18
48,53
48,53
0,73
297,80
13.753,39

6,20
6,58
11,68
7,75
10,47
112,54
19,27
50,65
113,47
50,47
4,99
18,04
13,52
45,94
31,44
503,02
2,75
18,00
23,52
8,80
3,43
4,70
1,80
2,00
2,00
81,53
14,21
5,72
4,14
15,12
21,80
209,53
107,08
62,92
286,42
25,67
40,35
2.873,30
120,26
250,17
3.766,18

168,84
13.369,25
12,24
0,92

4,55
23,08
2,35
17,94
14,66
75,74
11,00
50,47
61,47
20,93
24,24
30,21
18,94
16,86
111,18
48,53
48,53

296,91
13.666,17

100%
100%
98%
100%
100%
100%
97%
100%
100%
100%
99%
100%
99%
100%
99%

100%

95%
100%
100%
100%
98%
98%
100%
100%
100%
100%
100%
100%
93%
100%
100%

100%

100%
99%
99%
100%
100%
100%
99%
99%
100%

99%

99%

100%
92%

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
0%
100%
99%

4,99
3,99
10,47
7,10
9,88
108,80
18,11
38,76
103,68
32,35
4,42
11,53
8,76
42,66
31,33
436,85
2,66
10,78
21,54
8,28
3,21
4,39
1,67
1,83
1,80
55,43
8,82
4,96
4,13
12,72
21,62
163,84
97,35
48,10
217,79
12,07
38,31
2.297,00
79,47
143,17
2.933,26

153,95
11.337,24
12,16
0,72

4,52
20,38
0,10
17,82
9,20
64,90
10,26
49,52
59,77
10,78
6,71
27,77
18,88
9,36
73,51
36,69
36,69

81%
61%
88%
92%
94%
97%
91%
76%
91%
64%
88%
64%
64%
93%
99%

87%

92%
60%
92%
94%
92%
91%
93%
91%
90%
68%
62%
87%
93%
84%
99%

78%

91%
76%
76%
47%
95%
80%
65%
57%
78%

90%

84%

99%
71%

99%
88%
4%
99%
63%

86%

93%
98%

97%

52%
28%
92%
100%
56%

66%

76%
76%

0%

% of 
NIP

0%
0%
0%
13%
42%
32%
38%
18%
147%
56%
0%
26%
32%
2%
0%

52%

21%
0%
9%
25%
31%
29%
28%
30%
30%
32%
55%
33%
16%
22%
10%

24%

33%
25%
16%
0%
0%
4%
14%
13%
7%

0%

12%

0%
0%

-

1,00
4,38
36,48
7,57
9,09
167,13
28,04

4,68
4,40
0,70

263,47
0,60

2,10
2,20
1,10
1,40
0,50
0,60
0,60
25,94
7,80
1,88
0,70
3,27
2,10
50,79
35,30
16,14
47,22

115,91
17,51
31,95
264,02

1.557,91

7,00

7,00

4,47

0%
0%
0%
0%
0%

9%

0%
0%

0%

0%
0%
0%
0%
0%

0%

0%
0%

0%

2%

11%

4,47

4,47
1.354,08

112 

234,88
11.572,12

79%

84%

7,00
1.564,91

0,64
4,38
33,15
5,88
9,09
154,15
27,94

2,60
0,69

238,52
0,60

1,16
1,52
0,71
0,90
0,32
0,60
0,38
12,70
2,48
1,48
0,45
3,18
1,91
28,38
33,34
11,66
35,54

88,21
13,53
21,41
203,68

1.349,61

0%
0%
0%
8%
42%
29%
30%
18%
136%
55%
0%
0%
19%
2%
0%

47%

21%
0%
5%
17%
20%
19%
18%
30%
19%
16%
17%
26%
10%
21%
9%

14%

31%
18%
12%
0%
0%
3%
11%
8%
5%

0%

10%

0%
0%

0%
0%
0%
0%
0%

6%

0%
0%

0%

0%
0%
0%
0%
0%

0%

0%
0%

0%

2%

10%

6,20
6,58
11,68
8,75
14,85
149,02
26,85
59,74
280,60
161,64
4,99
22,72
17,92
46,75
37,44
855,72
3,35
18,00
26,22
11,42
4,53
6,10
2,30
2,60
2,60
110,86
22,48
7,61
5,04
18,39
23,90
265,39
142,38
79,06
333,64
25,67
40,35
3.103,30
137,78
282,12
4.144,30
431,53
199,77
16.146,02
12,24
0,93
7,00
4,55
23,08
2,35
17,94
14,66
82,74
11,06
52,60
63,66
20,97
24,24
31,12
18,94
16,86
112,13
48,56
48,56
0,73
307,81
16.453,84

5,86
6,05
11,67
8,06
14,56
146,60
26,58
59,17
276,51
155,60
4,90
21,98
17,88
45,38
37,33
838,12
3,33
16,84
24,59
10,96
4,33
5,87
2,29
2,53
2,58
94,00
19,06
7,56
5,03
17,64
23,64
240,24
138,80
71,87
324,74
21,80
39,76
2.980,74
124,97
263,28
3.965,97
426,82
190,31
15.394,49
12,24
0,91
4,47
4,52
23,05
2,35
17,82
14,00
79,36
10,34
51,68
62,02
19,83
21,95
31,05
18,88
15,99
107,70
47,03
47,03
0,73
296,83
15.691,32

4,99
3,99
10,47
7,75
14,26
141,95
23,99
47,85
257,83
129,37
4,42
11,53
11,37
43,46
35,33
748,56
3,26
10,78
23,20
10,14
3,92
5,29
1,99
2,43
2,18
71,37
11,70
6,45
4,58
15,89
23,53
196,72
130,69
59,76
253,34
12,07
38,31
2.461,57
93,00
164,57
3.213,31
420,93
183,56
13.783,15
12,16
0,72
4,47
4,52
20,38
0,10
17,82
9,20
69,37
10,32
51,64
61,96
10,83
6,71
28,66
18,88
9,36
74,44
36,73
36,73
0,73
243,23
14.026,38

 
 
 
Table 3.2.2
Overall situation by instrument state (EUR million)

9th EDF annual 

NIP

A Envelope

B Envelope

TOTAL

Cotonou

2011

Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville) 
Democratic Republic of Congo
Djibouti
Equatorial Guinea
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea Bissau
Guinea (Conakry)
Ivory Coast
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome & Principe
Senegal
Seychelles
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe

* Total Africa

Decisions

% of 
NIP

Payments % of NIP Decisions

% of 
NIP

Payments

% of 
NIP

Decisions

Assigned funds

Payments

127,96
313,52
52,30
343,61
214,17
166,27
49,98
108,98
205,45
31,74
116,27
426,55
40,39
8,99
116,69
532,69
34,35
52,74
298,14
62,69
90,82
5,37
288,21
103,79
99,89
406,88
248,99
415,00
120,85
66,51
426,88
97,44
352,90
469,75
217,65
12,85
288,43
4,48
182,14
193,33
273,53
36,42
398,84
20,60
270,37
367,43
32,19
8.795,00

-
(1,64)
(0,23)
-
-
(3,84)
-
(0,02)
(0,42)
(0,01)
-
(7,06)
-
-
(32,35)
(6,98)
-
-
(2,20)
(0,03)
(0,55)

(1,75)
(0,10)
-
(5,92)
(1,92)
(1,47)
-
-
(5,60)
(0,70)
(3,08)
-
(0,09)
-
(3,63)
(0,04)
-
(0,00)
137,00
-
(2,01)
(0,04)
(8,84)
(4,52)
-
41,97

0%
-1%
0%
0%
0%
-2%
0%
0%
0%
0%
0%
-2%
0%
0%
-28%
-1%
0%
0%
-1%
0%
-1%
0%
-1%
0%
0%
-1%
-1%
0%
0%
0%
-1%
-1%
-1%
0%
0%
0%
-1%
-1%
0%
0%
50%
0%
-1%
0%
-3%
-1%
0%

0%

4,99
6,49
2,15
5,00
21,99
8,00
5,42
24,34
11,74
4,33
1,85
18,47
3,48
0,11
20,28
3,51
3,28
11,87
6,70
4,88
12,09

25,92
24,35
7,47
9,97
17,25
5,27
13,74
0,10
11,79
10,53
29,26
24,96
2,06
0,41
8,49
1,40
15,52
11,19
(0,15)
3,88
15,33
2,34
28,65
4,34
1,29
456,33

4%
2%
4%
1%
10%
5%
11%
22%
6%
14%
2%
4%
9%
1%
17%
1%
10%
23%
2%
8%
13%
0%
9%
23%
7%
2%
7%
1%
11%
0%
3%
11%
8%
5%
1%
3%
3%
31%
9%
6%
0%
11%
4%
11%
11%
1%
4%

5%

-

-
-
(0,31)
(0,23)
-
-
(0,21)
-

(4,95)

-
-

(0,11)
-
-

(0,24)
(0,13)
-
(0,18)

(0,03)
(0,19)
-

-
-

-

-

-
-

(6,59)

0%
0%
0%
0%
0%
0%
-1%
0%
0%
0%
0%
0%
0%
0%
0%
-1%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%

0%

0%
0%
0%
0%
2%
0%
0%
0%
0%
1%
0%
2%
0%
0%
0%
0%
0%
0%
0%
0%
8%
356%
-1%
0%
0%
0%
0%
0%
2%
0%
0%
0%
0%
0%
0%
6%
0%
0%
0%
0%
0%
0%
0%
47%
0%
0%
3%

1%

3,76
0,05

0,14
0,67
0,21

7,16

0,02

0,14
0,15

6,95
19,10
(2,36)

0,21
0,77
2,32

(0,03)

(0,48)

0,77
0,71

0,33

(0,10)

9,77
0,67

0,94
51,89

-
(1,64)
(0,23)
-
-
(3,84)
(0,31)
(0,24)
(0,42)
(0,01)
(0,39)
(7,36)
-
-
(32,35)
(13,82)
-
(0,13)
(2,20)
(0,18)
(0,66)
-
(1,92)
(0,10)
(0,24)
(6,20)
(2,61)
(1,65)
-
-
(5,64)
(0,89)
(3,08)
(0,18)
(0,09)
-
(3,66)
(0,04)
-
(0,00)
136,91
-
(2,01)
(0,11)
(9,07)
(4,52)
-
31,12

(1,99)
(1,13)
(0,31)
4,48
8,89
0,24
(0,25)
2,53
(1,33)
(0,43)
(2,25)
(5,92)
17,17
(0,14)
(28,62)
(0,61)
(0,07)
2,48
(1,45)
(1,22)
10,53
(0,51)
(0,87)
0,39
(1,03)
(7,16)
(10,63)
(0,97)
8,13
(0,04)
(1,48)
(1,83)
(2,57)
(11,55)
(0,60)
(0,10)
(1,12)
0,09
(0,17)
(6,76)
(0,64)
0,58
0,44
(0,43)
(2,67)
(9,58)
0,07
(50,42)

4,99
6,49
2,15
4,98
25,75
8,05
5,42
24,48
12,42
4,54
1,20
25,89
3,48
0,11
20,28
3,53
3,28
12,01
6,85
4,73
19,10
19,10
23,57
24,35
7,47
9,97
17,46
6,05
16,07
0,10
11,71
10,53
28,78
25,37
2,06
1,18
9,20
1,40
15,83
11,19
(0,26)
3,94
15,33
12,14
29,11
4,34
2,23
507,96

113 

 
 
 
Table 3.2.2 (continued)
Overall situation by instrument state (EUR million)

9th EDF annual 

NIP

A Envelope

B Envelope

TOTAL

Cotonou

2011

Decisions

Antigua & Barbuda
Bahamas
Barbados
Belize
Dominica
Dominican Republic
Grenada
Guyana
Haiti
Jamaica
Saint Kitts & Nevis
Saint Lucia
Saint Vincent & the Grenadines
Suriname
Trinidad & Tobago

* Total Caribbean

Cook Islands
East Timor
FIJI
Kiribati
Marshall Islands
Micronesia
Nauru
Niue
Palau
Papua New Guinea
Solomon Islands
Tonga
Tuvalu
Vanuatu
Western Samoa

* Total Pacific

Caribbean Region
Central Africa Region
Eastern, Southern Africa and the Indian Ocean 
Multiregional PALOP
Pacific Region
Regional cooperation ACP
Southern Africa Region 
West Africa Region

* Total regional cooperation ACP

Administrative and financial expenditure
All ACP countries

* Total ACP

Anguilla
British Virgin Islands
Cayman Islands
Falkland Islands
Montserrat
Pitcairn Islands
Saint Helena
Turks & Caicos Islands

Aruba
Netherlands Antilles

French Polynesia
Mayotte
New Caledonia
Saint Pierre & Miquelon
Wallis & Futuna

* Total British OCT

* Total Dutch OCT

* Total French OCT

Regional cooperation OCT

* Total regional cooperation OCT

All OCT countries

* Total OCT
* Total ACP + OCT

6,20
6,58
11,88
7,75
10,47
112,54
19,87
50,68
113,47
50,47
5,04
18,04
13,72
46,05
31,75
504,50
2,90
18,00
23,52
8,80
3,50
4,80
1,80
2,00
2,00
81,53
14,21
5,72
4,47
15,15
21,80
210,21
107,23
63,35
288,24
25,67
40,35
2.875,82
121,58
252,45
3.774,69

171,19
13.455,59
12,24
1,00
-
4,55
23,16
2,35
17,94
14,66
75,90
11,00
50,47
61,47
20,93
24,24
30,21
18,94
16,86
111,18
48,53
48,53
0,73
297,80
13.753,39

(1,06)
(0,33)
(0,55)
-
-
(0,86)
(0,60)
(0,03)
-
(0,09)
(1,18)
(0,20)
(0,20)
(0,13)
(0,34)
(5,55)
(0,15)
-
-
-
(0,07)
(0,10)
-
-
-
-
-
(0,08)
(0,32)
(0,04)
-
(0,76)
(2,68)
(1,10)
(2,49)
-
(0,06)
(3,35)
(5,74)
(2,28)
(17,69)

(2,35)
15,63

(0,08)

(0,08)

(0,16)

-

-
(0,26)
(0,26)

(0,42)
15,21

% of 
NIP
-17%
-5%
-5%
0%
0%
-1%
-3%
0%
0%
0%
-23%
-1%
-1%
0%
-1%

-1%

-5%
0%
0%
0%
-2%
-2%
0%
0%
0%
0%
0%
-1%
-7%
0%
0%

0%

-2%
-2%

-1%

0%
0%
0%
-5%
-1%
0%
#DIV/0!
-1%

0%

0%
-8%

0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
-1%
-1%
0%
0%
0%

Payments % of NIP Decisions

% of 
NIP

Payments

% of 
NIP

Decisions

Assigned funds

Payments

(0,07)
1,02

0,13
2,14
1,89
0,73
4,87
3,19
4,07
0,76
10,20
1,36
1,73
22,18
54,20
0,18
1,39
0,45

0,08
0,09
0,05
0,03
0,06
6,06
0,08
0,50
(0,10)
0,34
1,89
11,09
8,49
3,62
22,28
2,68
1,88
179,49
12,00
21,18
251,63

0,50
773,76

0,11

1,60

3,30
0,53
5,55
0,18
0,01
0,19
0,07
4,15
2,39
3,13
5,41
15,15
9,60
9,60

114 

30,48
804,24

-1%
15%
0%
2%
20%
2%
4%
10%
3%
8%
15%
57%
10%
4%
70%

11%

6%
8%
2%
0%
2%
2%
3%
2%
3%
7%
1%
9%
-2%
2%
9%

5%

8%
6%

8%

10%
5%
6%
10%
8%
7%
#DIV/0!
0%

6%

0%
11%

0%
7%
0%
18%
4%

7%

2%
0%

0%

0%
17%
8%
17%
32%

14%

20%
20%
0%
10%

6%

0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%

0%

0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%

0%

0%
0%

-1%

0%
0%
0%
0%
0%
0%
#DIV/0!
0%

0%

0%
0%

0%
0%
0%
0%
0%

0%

0%
0%

0%

0%
0%
0%
0%
0%

0%

0%
0%
0%
0%

0%

-
(0,08)

-
-

(0,08)
-

-

-

(0,03)
-
(0,03)
-
-
(1,70)

(3,43)
-
-
(5,13)

(11,83)

-

-
(11,83)

1,50
5,63
(1,69)

8,07
0,13

1,80

15,44
0,60

0,90
0,96

2,58
1,68

0,09
6,80
4,39
4,35
7,65

3,63
3,34
3,65
27,02

101,16

(1,66)

0%
0%
0%
0%
14%
5%
-9%
0%
7%
0%
0%
0%
13%
0%
0%

3%

21%
0%
4%
11%
0%
0%
0%
0%
0%
3%
12%
0%
0%
0%
0%

3%

4%
7%

3%

0%
0%
0%
3%
1%
1%
#DIV/0!
0%

1%

0%
0%

0%
0%
0%
0%
0%

(1,66)

-2%

0%
0%

0%

0%
0%
0%
0%
0%

0%

0%
0%
0%
-1%

1%

-

(1,66)
99,50

(1,06)
(0,33)
(0,55)
-
-
(0,86)
(0,68)
(0,03)
-
(0,09)
(1,18)
(0,20)
(0,20)
(0,23)
(0,34)
(5,73)
(0,15)
-
-
-
(0,07)
(0,10)
-
-
-
-
(0,11)
(0,08)
(0,32)
(0,06)
-
(0,90)
(2,68)
(1,10)
(4,19)
-
(0,06)
(8,40)
(5,74)
(2,28)
(24,43)
(6,11)
(2,35)
(8,40)

(0,08)
-

(0,08)

-
(0,16)

(0,26)
(0,26)

(0,42)
(8,81)

(0,01)
0,04
(0,00)
(0,17)
0,01
(0,87)
-
(0,03)
1,20
(0,72)
(0,05)
0,28
(0,08)
(0,57)
(0,15)
(1,13)
0,61
3,70
0,19
(0,12)
(0,06)
(0,30)
0,00
0,00
0,00
(0,81)
0,00
0,06
(0,32)
(0,11)
0,07
2,91
(0,28)
0,27
(0,57)
2,63
(0,01)
26,61
(2,38)
15,77
42,03
(1,02)
(7,43)
(15,06)
-
(0,01)
(2,37)

(0,11)

(2,49)
(0,07)
0,04
(0,03)
8,38
17,69
0,05
-
0,24
26,36
(0,03)
(0,03)

23,82
8,76

(0,07)
1,02

0,13
3,64
7,52
(0,96)
4,87
11,25
4,20
0,76
10,20
3,16
1,73
22,18
69,65
0,77
1,39
1,35
0,89
0,08
0,09
0,05
0,03
0,06
8,64
1,76
0,50
(0,10)
0,34
1,97
17,82
12,88
7,97
29,94
2,68
1,88
182,85
15,34
24,83
278,38
2,56
0,50
876,87

0,11
(1,66)

1,60

3,30
0,53
3,89
0,18
0,01
0,19
0,07
4,15
2,39
3,13
5,41
15,15
9,60
9,60

28,82
905,69

 
 
 
Table 3.2.3
Situation by instrument and by state (EUR million)

9TH EDF
Decisions cumulative

2011

Macroeconomic 
support

A Envelope
Sectoral 
policies

Cotonou

B Envelope

A Envelope

Compensation 
export earnings

Emergency aid

Heavily 
indebted poor 

B Envelope

Implementatio
n costs

Lomé

Transfers from 
6th EDF - 
Lomé

Transfers from 
7th EDF - 
Lomé

Voluntary 
contribution 
Peace facility

TOTAL STATE

Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville) 
Democratic Republic of Congo
Djibouti
Equatorial Guinea
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea Bissau
Guinea (Conakry)
Ivory Coast
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome & Principe
Senegal
Seychelles
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe

110,33

187,00
65,61

14,20
11,58
23,25

28,45
105,70

58,27

104,21
9,90

125,00

3,44
106,24
60,10
122,07

8,74
145,83

165,58

101,12

53,00

62,00

137,00

177,60
3,03
80,56
178,77

* Total Africa

2.248,60

127,96
201,54
52,07
156,61
148,56
166,27
35,78
97,40
181,78
31,73
87,82
319,16
40,39
8,99
84,64
474,41
34,35
52,74
193,94
52,79
90,27
5,37
163,21
103,68
96,45
295,45
186,97
292,00
120,85
57,77
281,05
96,74
185,13
469,75
116,53
12,85
232,30
4,48
120,14
193,33
126,53
36,42
221,24
17,56
181,76
184,14
32,19
6.473,09

127,96
311,88
52,07
343,61
214,17
166,27
49,98
108,98
205,03
31,73
116,27
424,87
40,39
8,99
84,64
532,69
34,35
52,74
298,14
62,69
90,27
5,37
288,21
103,68
99,89
401,70
247,07
414,07
120,85
66,51
426,88
96,74
350,71
469,75
217,65
12,85
285,30
4,48
182,14
193,33
263,53
36,42
398,84
20,60
262,32
362,91
32,19
8.721,69

8,06

5,86

4,17

1,80

3,20

10,00
1,11
21,60
0,38

24,75

11,49

92,43

115 

26,70
1,05

38,95
8,20
5,50
3,35
17,59
6,19
4,36
99,96

0,46
45,96
1,10

2,80

28,94
206,35
26,60

23,76
6,25
11,30
40,98
5,66
0,28
5,49
0,61
15,33

2,00
11,60
0,70
31,33

79,93

4,55
41,60
38,60
7,70
24,30
876,00

26,70
1,05
8,06
-
52,41
8,20
5,50
9,12
17,59
6,19
6,36
99,96
-
-
0,46
45,96
1,10
1,80
2,80
3,20
28,94
206,35
26,60
-
23,76
6,25
21,30
42,09
27,26
0,67
5,49
0,61
15,33
-
-
2,00
11,60
0,70
56,08
-
79,93
-
4,55
41,60
38,60
19,19
24,30
979,62

7,60

1,60

2,00

11,20

13,37
0,36

9,94
65,93

0,90

1,29

15,43
57,32

30,10
0,11
2,60
1,45
0,28
37,36

11,94
0,61
-

6,06
2,56
0,32

1,89

119,50
0,34

0,82

23,68

104,63
1,24
0,04
18,72
3,53
0,27
0,27
532,83

0,55
-

0,02
-
0,47

0,02
0,00
0,43

0,09
6,65

1,52

0,02

2,54

2,86

-

15,15

168,03
313,28
60,13
353,55
332,51
174,47
56,38
118,11
223,91
37,93
138,05
582,70
40,39
8,99
85,10
608,75
35,56
57,14
302,41
66,16
157,04
211,72
326,75
104,29
123,67
407,94
274,86
458,72
148,42
67,26
440,91
97,35
366,04
589,24
219,51
14,85
297,73
5,18
261,90
193,33
450,63
37,66
403,43
80,91
307,31
382,37
56,75
10.249,31

-

 
 
 
Table 3.2.3 (continued)
Situation by instrument and by state (EUR million)

9TH EDF
Decisions cumulative

2011

Macroeconomic 
support

A Envelope
Sectoral 
policies

Cotonou

B Envelope

A Envelope

Compensation 
export earnings

Emergency aid

Heavily 
indebted poor 

B Envelope

Implementatio
n costs

Lomé

Transfers from 
6th EDF - 
Lomé

Transfers from 
7th EDF - 
Lomé

Voluntary 
contribution 
Peace facility

TOTAL STATE

Antigua & Barbuda
Bahamas
Barbados
Belize
Dominica
Dominican Republic
Grenada
Guyana
Haiti
Jamaica
Saint Kitts & Nevis
Saint Lucia
Saint Vincent & the Grenadines
Suriname
Trinidad & Tobago

* Total Caribbean

6,40
80,71
10,00
25,92
4,04
2,50

27,09
156,66

Cook Islands
East Timor
Fiji
Kiribati
Marshall Islands
Micronesia
Nauru
Niue
Palau
Papua New Guinea
Solomon Islands
Tonga
Tuvalu
Vanuatu
Western Samoa

Caribbean Region
Central Africa Region

* Total Pacific

3,05

3,05

Eastern, Southern Africa and the Indian Ocean 

Multiregional PALOP
Pacific Region
Regional cooperation ACP
Southern Africa Region 
West Africa Region

* Total regional cooperation ACP

Administrative and financial expenditure
All ACP countries

* Total ACP

2.408,31

Anguilla
British Virgin Islands
Cayman Islands
Falkland Islands
Montserrat
Pitcairn Islands
Saint Helena
Turks & Caicos Islands

Aruba
Netherlands Antilles

French Polynesia
Mayotte
New Caledonia
Saint Pierre & Miquelon
Wallis & Futuna

* Total British OCT

14,64
14,64

* Total Dutch OCT

-

* Total French OCT

Regional cooperation OCT

* Total regional cooperation OCT

Administrative and financial expenditure
All OCT countries

6,20
6,58
11,68
7,75
4,07
31,83
9,27
24,74
109,43
47,97
4,99
18,04
13,52
45,94
4,35
346,36
2,75
18,00
23,52
8,80
3,43
4,70
1,80
2,00
2,00
81,53
14,21
5,72
4,14
12,07
21,80
206,48

7.025,93
12,24
0,92

4,55
23,08
2,35
17,94
0,02
61,11
11,00
50,47
61,47
20,93
24,24
30,21
18,94
16,86
111,18

6,20
6,58
11,68
7,75
10,47
112,54
19,27
50,65
113,47
50,47
4,99
18,04
13,52
45,94
31,44
503,02
2,75
18,00
23,52
8,80
3,43
4,70
1,80
2,00
2,00
81,53
14,21
5,72
4,14
15,12
21,80
209,53
107,08
62,92

286,42

25,67
40,35
2.873,30
120,26
250,17
3.766,18
89,41
168,84
13.458,67
12,24
0,92

4,55
23,08
2,35
17,94
14,66
75,74
11,00
50,47
61,47
20,93
24,24
30,21
18,94
16,86
111,18
48,53
48,53

* Total OCT

*Total ACP + OCT

14,64

2.422,95

233,75

7.259,68

296,91

13.755,58

-

1,00

16,50
7,57
0,69
167,13
26,04

0,70

219,63
0,60

2,10
2,20
1,10
1,40
0,50
0,60
0,60
3,50
0,55
1,88
0,70
1,57
0,02
17,32

4,38
19,98

8,40

2,00

4,68
4,40

43,84

22,44
7,25

1,70
2,08
33,47

-

-

169,74

1.112,95

11,20

7,00

7,00

-

-

7,00

1.119,95

-

-

-

-

169,74
116 

-

-

-

-

11,20

1.564,91

-
-
-
1,00
4,38
36,48
7,57
9,09
167,13
28,04
-
4,68
4,40
0,70
-
263,47
0,60
-
2,10
2,20
1,10
1,40
0,50
0,60
0,60
25,94
7,80
1,88
0,70
3,27
2,10
50,79
35,30
16,14

47,22

115,91
17,51
31,95
264,02

1.557,91
-
-
7,00
-
-
-
-
-
7,00

-

-

7,00

6,20
6,58
11,68
8,75
14,85
149,02
26,85
59,74
280,60
161,64
4,99
22,72
17,92
46,75
37,44
855,72
3,35
18,00
26,22
11,42
4,53
6,10
2,30
2,60
2,60
110,86
22,48
7,61
5,04
18,39
23,90
265,39
142,38
79,06

333,64

25,67
40,35
3.103,30
137,78
282,12
4.144,30
431,53
199,77
16.146,02
12,24
0,93
7,00
4,55
23,08
2,35
17,94
14,66
82,74
11,06
52,60
63,66
20,97
24,24
31,12
18,94
16,86
112,13
48,56
48,56
-
0,73
307,81

16.453,84

-

0,07

83,06

-

0,11

0,17

0,01

-

6,00
89,06

0,59
0,42

3,39
0,46

0,20

-

0,01

5,07

-

4,77

70,17

39,17

342,11

342,11

4,77

1,67
21,77

-

-

-

0,73
0,73

342,84

-

-

-
0,03
0,03

0,03

21,80

70,17

39,17

29,26
726,39

0,00

0,00
0,06
2,13
2,19
0,04

0,90

0,95
0,00
0,00

3,15

729,54

39,17

-

-

-

-

39,17

 
 
 
A Envelope

Cotonou

B Envelope

Macroeconomic 
support

Sectoral policies

Total A 
Envelope

Compensation 
export earnings

Emergency aid

Heavily 
indebted poor 
countries

-

Table 3.2.4
Situation by instrument and by state (EUR million)

9th EDF
Decisions annual

2011

Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville) 

Democratic Republic of Congo

Djibouti
Equatorial Guinea
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea Bissau
Guinea (Conakry)
Ivory Coast
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome & Principe
Senegal
Seychelles
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe

-

-

(0,02)

-

-

-
-
(0,43)

-

-

-

137,00

(0,11)

(7,49)
-

-
(1,64)
(0,23)
-
-
(3,84)
-
-
(0,42)
(0,01)
-

(7,06)

-
-
(32,35)
(6,98)
-
-
(2,20)
(0,03)
(0,55)

(1,75)
(0,10)
-
(5,92)
(1,92)
(1,04)
-
-
(5,60)
(0,70)
(3,08)
-
(0,09)
-
(3,63)
(0,04)
-
(0,00)
-
-
(1,90)
(0,04)
(1,35)
(4,52)
-
(86,99)

-
(1,64)
(0,23)
-
-
(3,84)
-
(0,02)
(0,42)
(0,01)
-

(7,06)

-
-
(32,35)
(6,98)
-
-
(2,20)
(0,03)
(0,55)
-
(1,75)
(0,10)
-
(5,92)
(1,92)
(1,47)
-
-
(5,60)
(0,70)
(3,08)
-
(0,09)
-
(3,63)
(0,04)
-
(0,00)
137,00
-
(2,01)
(0,04)
(8,84)
(4,52)
-
41,97

* Total Africa

128,96

B Envelope

Implementation 
costs

Transfers 
from 6th EDF -
Lomé

Transfers 
from 7th EDF -
Lomé

Voluntary 
contribution 
Peace Facility

Total state

Lomé

-
-
-
-
-
-
(0,31)
(0,23)
-
-
(0,21)

-

-
-
-
(4,95)
-
-
-
-
(0,11)
-
-
-
(0,24)
(0,13)
-
(0,18)
-
-
(0,03)
(0,19)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(6,59)

-

-
-

-

-

(0,17)

-

(1,89)

(0,13)

(0,15)

(0,17)
-

(0,69)

(0,30)

-
(0,15)

(0,00)

-

(0,18)
(0,00)

(0,03)

-

-
-

(0,07)
(0,23)

(0,09)

-

(0,53)

(3,72)

-

-
(1,64)
(0,23)
-
-
(3,84)
(0,31)
(0,24)
(0,42)
(0,01)
(0,39)

(7,36)

-
-
(32,35)
(13,82)
-
(0,13)
(2,20)
(0,18)
(0,66)
-
(1,92)
(0,10)
(0,24)
(6,20)
(2,61)
(1,65)
-
-
(5,64)
(0,89)
(3,08)
(0,18)
(0,09)
-
(3,66)
(0,04)
-
(0,00)
136,91
-
(2,01)
(0,11)
(9,07)
(4,52)
-
31,12

(0,23)

-
-
(0,31)
-
-
-
(0,21)

-

(4,95)

-

(0,11)
-
-

(0,24)
(0,13)
-
(0,18)

(0,03)
(0,19)
-

-
-

-

-

-
-

(0,23)

(6,37)

-

117 

 
 
 
Table 3.2.4 (continued)
Situation by instrument and by state (EUR million)

9th EDF
Decisions annual

2011

A Envelope

Cotonou

B Envelope

Lomé

Macroeconomic 
support

Sectoral policies

Total A 
Envelope

Compensation 
export earnings

Emergency aid

Heavily 
indebted poor 
countries

B Envelope

Implementation 
costs

Transfers 
from 6th EDF -
Lomé

Transfers 
from 7th EDF -
Lomé

Voluntary 
contribution 
Peace Facility

Total state

(0,86)

-

* Total Caribbean

(0,86)

Antigua & Barbuda
Bahamas
Barbados
Belize
Dominica
Dominican Republic
Grenada
Guyana
Haiti
Jamaica
Saint Kitts & Nevis
Saint Lucia

Saint Vincent & the Grenadines

Suriname

Trinidad & Tobago

Cook Islands

East Timor
Fiji
Kiribati
Marshall Islands
Micronesia
Nauru
Niue
Palau
Papua New Guinea
Solomon Islands
Tonga
Tuvalu
Vanuatu
Western Samoa

* Total Pacific

Caribbean Region
Central Africa Region
Eastern, Southern Africa and the Indian Ocean 
Multiregional PALOP
Pacific Region
Regional cooperation ACP
Southern Africa Region 
West Africa Region

* Total regional cooperation ACP

Administrative and financial expenditure
All ACP countries

-

-

(1,06)
(0,33)
(0,55)
-
-
-
(0,60)
(0,03)
-
(0,09)
(1,18)
(0,20)

(0,20)

(0,13)

(0,34)

(4,69)

(0,15)

-
-
-
(0,07)
(0,10)
-
-
-
-
-
(0,08)
(0,32)
(0,04)
-
(0,76)

-

* Total ACP

128,10

(92,44)

Anguilla
British Virgin Islands
Cayman Islands
Falkland Islands
Montserrat
Pitcairn Islands
Saint Helena
Turks & Caicos Islands

Aruba
Netherlands Antilles

French Polynesia
Mayotte
New Caledonia
Saint Pierre & Miquelon
Wallis & Futuna

* Total British OCT

* Total Dutch OCT

(0,08)

(0,08)

(0,16)

* Total French OCT

Regional cooperation OCT

* Total regional cooperation OCT

Administrative and financial expenditure
All OCT countries

* Total OCT
* Total ACP+OCT

128,10

(0,16)
(92,60)

(1,06)
(0,33)
(0,55)
-
-
(0,86)
(0,60)
(0,03)
-
(0,09)
(1,18)
(0,20)

(0,20)

(0,13)

(0,34)

(5,55)

(0,15)

-
-
-
(0,07)
(0,10)
-
-
-
-
-
(0,08)
(0,32)
(0,04)
-
(0,76)
(2,68)
(1,10)
(2,49)

(0,06)
(3,35)
(5,74)
(2,28)
(17,69)
(0,59)
(2,35)
15,04

(0,08)
-
-
(0,08)

(0,16)
-

-

-
-
(0,26)
(0,26)

(0,42)
14,62

-
-
-
-
-
-
(0,08)
-
-
-
-
-

-

-

-

(0,08)

-

-
-
-
-
-
-
-
-
-
-
-
-
(0,03)

(0,03)

(1,70)

(3,43)

(5,13)

-
(0,08)

-

-

(0,08)

-

-

-

(0,03)

(0,03)

-

-

-

(0,23)

(6,48)

-

-

-

(0,10)

-

(0,10)

-

-

(0,10)

(0,01)

-

(0,10)

(0,01)

(0,45)

(1,17)

-
(5,52)

(0,45)

(1,17)

-

-

-

(11,83)

(5,52)

(1,19)

(4,91)

(0,23)

118 

(6,48)

-

(11,83)

(5,52)

(1,19)

(4,91)

-

(1,06)
(0,33)
(0,55)
-
-
(0,86)
(0,68)
(0,03)
-
(0,09)
(1,18)
(0,20)

(0,20)

(0,23)

(0,34)

(5,73)

(0,15)

-
-
-
(0,07)
(0,10)
-
-
-
-
(0,11)
(0,08)
(0,32)
(0,06)
-
(0,90)
(2,68)
(1,10)
(4,19)
-
(0,06)
(8,40)
(5,74)
(2,28)
(24,43)
(6,11)
(2,35)
(8,40)
-
(0,08)
-
-
(0,08)
-
-
-
(0,16)

(0,26)
(0,26)

(0,42)
(8,81)

 
 
 
A Envelope

Cotonou

B Envelope

Lomé

Macroeconomic 
support

Sectoral policies

 A Envelope

Compensation 
export earnings

Emergency aid

Heavily indebted 
poor countries

B Envelope

Implementation 
costs

Transfers from 
6th EDF - Lomé

Table 3.2.5
Situation by instrument and by state (EUR million)

9th EDF
Assigned funds cumulative

2011

Angola

Benin

Botswana

Burkina Faso

Burundi

Cameroon

Cape Verde

Central African Republic

Chad

Comoros

Congo (Brazzaville) 

Democratic Republic of Congo

Djibouti

Equatorial Guinea

Eritrea

Ethiopia

Gabon

Gambia

Ghana

Guinea Bissau

Guinea (Conakry)

Ivory Coast

Kenya

Lesotho

Liberia

Madagascar

Malawi

Mali

Mauritania

Mauritius

Mozambique

Namibia

Niger

Nigeria

Rwanda

Sao Tome & Principe

Senegal

Seychelles

Sierra Leone

Somalia

Sudan

Swaziland

Tanzania

Togo

Uganda

Zambia

Zimbabwe

106,63

185,04

64,91

12,27

11,58

22,53

28,45

105,70

57,97

104,11

9,78

124,75

3,44

104,21

55,77

122,07

8,74

145,83

165,27

101,12

52,48

60,57

177,60

3,03

80,56

169,77

123,54

197,49

51,49

153,28

145,89

163,03

34,18

93,77

171,87

30,84

84,35

307,14

38,55

8,50

81,65

471,26

31,13

51,36

168,20

42,54

88,74

4,88

153,66

96,86

91,70

276,34

172,26

286,50

114,13

56,31

270,59

93,22

180,35

412,92

115,54

12,32

226,83

4,38

113,65

183,47

124,17

35,49

205,47

15,96

178,09

177,69

31,84

123,54

304,13

51,49

338,31

210,81

163,03

46,45

105,35

194,39

30,84

112,80

412,85

38,55

8,50

81,65

529,24

31,13

51,36

272,30

52,32

88,74

4,88

278,41

96,86

95,14

380,56

228,03

408,58

114,13

65,05

416,43

93,22

345,62

412,92

216,66

12,32

279,31

4,38

174,22

183,47

124,17

35,49

383,08

18,99

258,64

347,46

31,84

8,06

5,86

4,17

1,74

3,20

10,00

1,11

21,60

0,38

24,75

11,49

25,51

1,05

38,92

7,86

5,50

3,35

17,22

6,00

4,36

98,20

0,46

44,59

1,03

2,40

27,36

201,59

25,21

23,74

6,25

10,82

39,95

5,66

0,28

3,49

0,61

13,55

1,83

11,25

0,70

30,58

78,82

4,55

39,50

36,80

7,45

24,11

850,52

7,60

1,60

2,00

25,51

1,05

8,06

-

52,38

7,86

5,50

9,12

17,22

6,00

6,36

98,20

-

-

0,46

44,59

1,03

1,74

2,40

3,20

27,36

201,59

25,21

-

23,74

6,25

20,82

41,06

27,26

0,67

3,49

0,61

13,55

-

-

1,83

11,25

0,70

55,33

-

78,82

-

4,55

39,50

36,80

18,94

24,11

Transfers from 
7th EDF - Lomé
11,89

0,23

9,24

65,36

0,36

1,08

14,54

55,37

29,63

0,11

2,58

1,45

0,28

36,17

8,50

0,57

5,97

2,51

0,32

1,81

109,45

0,34

0,82

21,56

0,38

-

0,02

-

-

0,00

0,34

0,09

6,65

1,52

2,54

104,49

2,86

1,18

0,04

17,00

3,53

0,27

0,27

Voluntary 
contribution 
Peace Facility

Total state

160,94

305,40

59,55

347,55

328,55

170,89

52,31

114,47

212,69

36,84

133,70

566,80

38,55

8,50

82,11

603,46

32,26

55,68

276,17

55,80

152,26

206,47

312,13

97,43

118,88

386,80

255,16

452,15

141,70

65,80

428,38

93,83

359,17

522,37

218,52

14,15

291,37

5,08

251,11

183,47

310,01

36,67

387,66

75,49

301,84

366,67

56,22

* Total Africa

2.084,20

6.173,45

8.257,66

92,37

119 

11,20

954,08

14,39

506,90

9.733,03

 
 
 
Table 3.2.5 (continued)
Situation by instrument and by state (EUR million)

9th EDF
Assigned funds cumulative

2011

A Envelope

Cotonou

B Envelope

Lomé

Macroeconomic 
support

Sectoral policies

 A Envelope

Compensation 
export earnings

Emergency aid

Heavily indebted 
poor countries

B Envelope

Implementation 
costs

Transfers from 
6th EDF - Lomé

Transfers from 
7th EDF - Lomé

Voluntary 
contribution 
Peace Facility

Total state

Antigua & Barbuda

Bahamas

Barbados

Belize

Dominica

Dominican Republic

Grenada

Guyana

Haiti

Jamaica

Saint Kitts & Nevis

Saint Lucia

Saint Vincent & the Grenadines

Suriname

Trinidad & Tobago

Cook Islands

East Timor

Fiji

Kiribati

Marshall Islands

Micronesia

Nauru

Niue

Palau

Papua New Guinea

Solomon Islands

Tonga

Tuvalu

Vanuatu

Western Samoa

6,40

80,71

9,88

25,57

3,54

2,50

* Total Caribbean

26,98

155,58

* Total Pacific

2,97

2,97

Caribbean Region

Central Africa Region

Eastern, Southern Africa and the Indian Ocean 
Multiregional PALOP

Pacific Region

Regional cooperation ACP

Southern Africa Region 

West Africa Region

Administrative and financial expenditure

All ACP countries

* Total regional cooperation ACP

5,86

6,05

11,67

7,41

3,78

30,46

9,13

24,51

107,98

42,06

4,90

17,30

13,48

44,59

4,35

333,54

2,73

16,84

22,16

8,46

3,24

4,47

1,79

1,93

1,98

70,17

12,60

5,68

4,13

11,49

21,70

189,37

5,86

6,05

11,67

7,41

10,18

111,18

19,01

50,09

111,52

44,56

4,90

17,30

13,48

44,59

31,33

489,12

2,73

16,84

22,16

8,46

3,24

4,47

1,79

1,93

1,98

70,17

12,60

5,68

4,13

14,47

21,70

192,34

103,75

56,10

279,48
21,80

39,76

2.773,02

107,89

232,53

3.614,32
89,41

159,48

4,38

19,09

8,40

1,93

4,68

4,40

42,88

17,11

5,48

1,62

1,92

26,13

0,64

16,33

7,57

0,69

164,99

26,02

0,69

216,93

0,60

1,94

2,08

1,09

1,39

0,50

0,60

0,60

3,48

0,55

1,88

0,70

1,56

0,02

16,98

-

-

-

-

-

0,64

4,38

35,42

7,57

9,09

164,99

27,96

-

4,68

4,40

0,69

-

259,82

0,60

-

1,94

2,08

1,09

1,39

0,50

0,60

0,60

20,59

6,03

1,88

0,70

3,18

1,94

43,11

35,06

15,77

45,26

110,59

17,09

30,75

254,52

-

-

-

-

0,07

83,01

-

0,11

0,17

0,00

-

6,00

89,01

0,50

0,42

3,24

0,43

0,20

-

0,00

4,79

-

-
337,40

4,27

55,50

37,36

4,27

1,67

20,50

55,50

29,16

685,37

37,36

37,36

* Total ACP

2.242,76

6.696,36

12.802,34

161,38

1.084,43

11,20

1.511,53

337,40

Anguilla

British Virgin Islands

Cayman Islands

Falkland Islands

Montserrat

Pitcairn Islands

Saint Helena

Turks & Caicos Islands

Aruba

Netherlands Antilles

French Polynesia

Mayotte

New Caledonia

Saint Pierre & Miquelon

Wallis & Futuna

* Total British OCT

13,98

13,98

* Total Dutch OCT

12,24

0,91

4,52

23,05

2,35

17,82

0,02

60,91

10,28

49,55

59,83

19,78

21,95

30,16

18,88

15,99

* Total French OCT

106,77

Regional cooperation OCT

* Total regional cooperation OCT

Administrative and financial expenditure

All OCT countries

12,24

0,91

-

4,52

23,05

2,35

17,82

14,00

74,89

10,28

49,55

59,83

19,78

21,95

30,16

18,88

15,99

106,77

47,00

47,02

4,47

4,47

4,47

4,47

* Total OCT
* Total ACP + OCT

13,98
2.256,74

227,51
6.923,87

288,51
13.090,84

161,38

4,47
1.088,90

11,20

4,47
1.516,00

120 

0,06

2,13

2,19

0,04

0,89

0,93

0,00

0,00

3,13
688,49

37,36

0,03

0,03

0,03
20,53

0,73
0,73
338,13

5,86

6,05

11,67

8,06

14,56

146,60

26,58

59,17

276,51

155,60

4,90

21,98

17,88

45,38

37,33

838,12

3,33

16,84

24,59

10,96

4,33

5,87

2,29

2,53

2,58

94,00

19,06

7,56

5,03

17,64

23,64

240,24

138,80

71,87

324,74
21,80

39,76

2.980,74

124,97

263,28

3.965,97
426,82

190,31

15.394,49

12,24

0,91

4,47

4,52

23,05

2,35

17,82

14,00

79,36

10,34

51,68

62,02

19,83

21,95

31,05

18,88

15,99

107,70

47,03

47,03

0,73
296,83
15.691,32

 
 
 
Table 3.2.6
Situation by instrument and by state (EUR million)

9th EDF
Assigned funds annual

2011

Macroeconomic 
support

Sectoral policies

Total A Envelope

A Envelope

Cotonou

Compensation 
export earnings

Angola

Benin

Botswana

Burkina Faso

Burundi

Cameroon

Cape Verde

Central African Republic

Chad

Comoros

Congo (Brazzaville) 

Democratic Republic of Congo

Djibouti

Equatorial Guinea

Eritrea

Ethiopia

Gabon

Gambia

Ghana

Guinea Bissau

Guinea (Conakry)

Ivory Coast

Kenya

Lesotho

Liberia

Madagascar

Malawi

Mali

Mauritania

Mauritius

Mozambique

Namibia

Niger

Nigeria

Rwanda

Sao Tome & Principe

Senegal

Seychelles

Sierra Leone

Somalia

Sudan

Swaziland

Tanzania

Togo

Uganda

Zambia

Zimbabwe

(0,88)

(0,02)

(0,10)

(0,00)

(0,73)

(3,38)

(0,08)

(0,06)

-

0,01

(0,07)

(0,33)

(8,75)

* Total Africa

(14,40)

(0,57)

(0,26)

(0,31)

4,60

8,96

0,22

(0,11)

2,53

(1,25)

(0,44)

(1,25)

(4,98)

17,17

(0,14)

(0,57)

(1,13)

(0,31)

4,58

8,96

0,22

(0,11)

2,53

(1,25)

(0,44)

(1,25)

(4,98)

17,17

(0,14)

(28,62)

(28,62)

0,22

(0,07)

2,43

(1,11)

(1,06)

4,28

(0,47)

0,42

(1,02)

(6,43)

(6,76)

(1,45)

8,13

(0,04)

0,56

(1,83)

(1,90)

(5,22)

(0,60)

(0,05)

(1,14)

0,09

0,31

(6,76)

(0,23)

0,58

0,44

0,37

(1,24)

(0,83)

0,07

(24,75)

0,12

(0,07)

2,43

(1,11)

(1,06)

4,28

-

(0,47)

0,42

(1,02)

(7,16)

(10,14)

(1,53)

8,13

(0,04)

0,56

(1,83)

(1,96)

(5,22)

(0,60)

(0,05)

(1,13)

0,09

0,24

(6,76)

(0,23)

0,58

0,44

0,37

(1,57)

(9,58)

0,07

(39,15)

0,05

0,05

121 

B Envelope

Emergency aid

Debt relief

B Envelope

(0,82)

(0,82)

Implementation 
costs

Transfers 
from 6th EDF - 

Transfers from 
7th EDF - Lomé
(0,60)

Lomé

-

-

-

0,06

0,02

-

-

0,03

0,01

(0,00)

0,18

-

-

-

(0,73)

-

0,05

(0,35)

-

6,25

(0,51)

(0,05)

-

-

-

(0,02)

0,56

-

-

(2,01)

-

(0,60)

-

-

(0,05)

0,02

-

(0,03)

-

(0,26)

-

-

(0,29)

(1,10)

-

-

(0,02)

(0,10)

(0,13)

(0,14)

(0,11)

(1,00)

(1,12)

(0,15)

-

(0,35)

(0,04)

(0,47)

(0,04)

(6,33)

(0,38)

(0,14)

-

(0,51)

-

Voluntary 
contribution 
Peace Facility

Total state

(1,99)

(1,13)

(0,31)

4,48

8,89

0,24

(0,25)

2,53

(1,33)

(0,43)

(2,25)

(5,92)

17,17

(0,14)

(28,62)

(0,61)

(0,07)

2,48

(1,45)

(1,22)

10,53

(0,51)

(0,87)

0,39

(1,03)

(7,16)

(10,63)

(0,97)

8,13

(0,04)

(1,48)

(1,83)

(2,57)

(11,55)

(0,60)

(0,10)

(1,12)

0,09

(0,17)

(6,76)

(0,64)

0,58

0,44

(0,43)

(2,67)

(9,58)

0,07

-

0,34

-

(0,02)

(11,59)

-

(50,42)

0,06

0,02

-

0,03

0,01

(0,00)

0,18

(0,73)

(0,35)

6,25

(0,51)

(0,05)

(0,02)

0,56

(2,01)

(0,60)

(0,05)

0,02

(0,03)

(0,26)

(0,29)

(1,10)

-

0,29

 
 
 
Table 3.2.6 (continued)
Situation by instrument and by state (EUR million)

9th EDF
Assigned funds annual

2011

Macroeconomic 
support

Sectoral policies

Total A Envelope

A Envelope

Cotonou

Compensation 
export earnings

B Envelope

Emergency aid

Debt relief

B Envelope

Implementation 
costs

Transfers 
from 6th EDF - 

Transfers from 
7th EDF - Lomé

Lomé

Voluntary 
contribution 
Peace Facility

Total state

Antigua & Barbuda

Bahamas

Barbados

Belize

Dominica

Dominican Republic

Grenada

Guyana

Haiti

Jamaica

Saint Kitts & Nevis

Saint Lucia

Saint Vincent & the Grenadines

Suriname

Trinidad & Tobago

Cook Islands

East Timor

Fiji

Kiribati

Marshall Islands

Micronesia

Nauru

Niue

Palau

Papua New Guinea

Solomon Islands

Tonga

Tuvalu

Vanuatu

Western Samoa

Caribbean Region

Central Africa Region

-

(0,86)

-

(0,01)

-

(0,87)

* Total Caribbean

* Total Pacific

0,20

0,20

(0,01)

0,04

(0,00)

(0,17)

0,01

(0,37)

-

(0,03)

0,05

(0,71)

(0,05)

0,28

(0,08)

(0,57)

(0,15)

(1,76)

0,02

3,70

0,13

(0,12)

(0,06)

(0,30)

0,00

0,00

0,00

(0,99)

0,00

0,06

(0,32)

(0,29)

(0,02)

1,79

Eastern, Southern Africa and the Indian Ocean 

Multiregional PALOP

Pacific Region

Regional cooperation ACP

Southern Africa Region 

West Africa Region

* Total regional cooperation ACP

-

-

(0,01)

0,04

(0,00)

(0,17)

0,01

(1,23)

-

(0,03)

0,04

(0,71)

(0,05)

0,28

(0,08)

(0,57)

(0,15)

(2,63)

0,02

3,70

0,13

(0,12)

(0,06)

(0,30)

0,00

0,00

0,00

(0,99)

0,00

0,06

(0,32)

(0,09)

(0,02)

1,99

(0,28)

(0,13)

(0,35)

2,63

(0,01)

17,44

(2,53)

9,44

26,20

0,35

1,16

1,51

0,59

0,07

-

(0,01)

0,64

0,04

0,04

0,18

0,10

0,28

-

-

Administrative and financial expenditure
All ACP countries

* Total ACP

(15,08)

(24,71)

(7,43)
(21,01)

0,37

2,44

Anguilla

British Virgin Islands

Cayman Islands

Falkland Islands

Montserrat

Pitcairn Islands

Saint Helena

Turks & Caicos Islands

Aruba

Netherlands Antilles

French Polynesia

Mayotte

New Caledonia

Saint Pierre & Miquelon

Wallis & Futuna

* Total British OCT

* Total Dutch OCT

* Total French OCT

Regional cooperation OCT

* Total regional cooperation OCT

Administrative and financial expenditure
All OCT countries

* Total OCT
* Total ACP + OCT

-
(15,08)

(0,01)

(0,01)

(0,11)

(0,11)

-

-

(2,37)

-

-

-

(0,12)

(0,07)

0,04

(0,03)

8,38

17,69

0,07

-

0,24

26,38

(0,03)

(0,03)

26,20
5,19

(0,12)

(0,07)

0,04

(0,03)

8,38

17,69

0,07

-

0,24

26,38

26,23
1,52

(2,37)

(2,37)

122 

-
0,37

(2,37)
0,07

-
-

(2,37)
18,09

-
(1,02)

-
(0,08)

(0,02)
(13,42)

(0,02)

(0,02)

-

-

-

-

-

0,35

-

-

1,16

0,04

-

-

-

-

-

1,55

0,59

-

0,07

-

-

-

-

-

-

0,18

-

-

-

(0,01)

0,10

0,92

0,40

(0,22)

10,98

0,15

6,34

17,64

20,46

-

-

(2,37)

-

-

-

-

-

-

-

-

-

(0,05)

-

-

(0,05)

-

-

-

-

(0,06)

(1,75)

-
(1,02)

(1,02)

(0,06)

(1,75)

(0,08)

(13,40)

(0,01)

0,04

(0,00)

(0,17)

0,01

(0,87)

-

(0,03)

1,20

(0,72)

(0,05)

0,28

(0,08)

(0,57)

(0,15)

(1,13)

0,61

3,70

0,19

(0,12)

(0,06)

(0,30)

0,00

0,00

0,00

(0,81)

0,00

0,06

(0,32)

(0,11)

0,07

2,91

(0,28)

0,27

(0,57)

2,63

(0,01)

26,61

(2,38)

15,77

42,03
(1,02)
(7,43)
(15,06)

-

(0,01)

(2,37)

-

(0,11)

-

-

-

(2,49)

(0,07)

0,04

(0,03)

8,38

17,69

0,05

-

0,24

26,36

(0,03)

(0,03)

23,82
8,76

-

-

-

-

 
 
 
Table 3.2.7
Situation by instrument and by state (EUR million)

9th EDF
Payments cumulative

2011

A Envelope

Cotonou

B Envelope

Lomé

Macroeconomic 
support

Sectoral policies

 A Envelope

Compensation 
export earnings

Emergency aid

Heavily indebted 
poor countries

B Envelope

Implementation 
costs

Transfers from 
6th EDF - Lomé

Transfers from 
7th EDF - Lomé

Voluntary 
contribution 
Peace Facility

Total state

Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville) 
Democratic Republic of Congo
Djibouti
Equatorial Guinea
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea Bissau
Guinea (Conakry)
Ivory Coast
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome & Principe
Senegal
Seychelles
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe

106,63

184,18
64,85

12,27
11,58
22,32

28,45
105,70

57,97

103,16
9,78

94,30

3,44
103,62
54,95
122,07

8,74
145,83

164,74

101,12

45,15

55,72

177,60
3,03
80,56
168,72

* Total Africa

2.036,51

98,36
192,47
49,94
145,17
119,65
151,77
23,99
73,44
150,40
24,56
81,83
287,91
21,80
6,08
73,59
455,00
23,34
45,63
157,82
36,31
83,67
4,86
110,19
80,99
72,56
268,57
149,21
284,41
94,95
53,75
246,36
92,84
172,31
367,93
113,33
11,25
206,27
3,58
101,20
175,93
108,38
28,85
195,46
11,06
169,37
157,67
28,81
5.612,83

98,36
299,10
49,94
329,35
184,50
151,77
36,26
85,03
172,72
24,56
110,28
393,61
21,80
6,08
73,59
512,97
23,34
45,63
260,97
46,09
83,67
4,86
204,49
80,99
76,00
372,18
204,16
406,48
94,95
62,50
392,20
92,84
337,05
367,93
214,45
11,25
251,43
3,58
156,92
175,93
108,38
28,85
373,07
14,10
249,93
326,38
28,81
7.649,33

24,91
1,05

36,68
6,86
5,50
3,29
15,21
5,72
4,14
90,09

0,46
43,58
0,74

1,83

21,08
173,64
19,91

23,74
6,25
10,12
39,03
5,66
0,28
3,39
0,61
13,01

1,65
8,90
0,70
27,56

78,13

4,55
31,24
36,73
7,45
22,73
776,38

8,06

5,86

4,17

1,20

3,20

10,00
1,11
21,21
0,38

24,75

11,49

91,44

123 

24,91
1,05
8,06
-
50,14
6,86
5,50
9,06
15,21
5,72
6,14
90,09
-
-
0,46
43,58
0,74
1,20
1,83
3,20
21,08
173,64
19,91
-
23,74
6,25
20,12
40,14
26,86
0,67
3,39
0,61
13,01
-
-
1,65
8,90
0,70
52,31
-
78,13
-
4,55
31,24
36,73
18,94
22,73
879,02

7,60

1,60

2,00

11,20

11,60
0,23

8,81
64,89

0,36

1,07

14,54
54,42

17,85
0,11
2,58
1,45
0,28
32,37

8,48
0,57

5,74
2,51
0,32

1,54

99,86
0,34

0,69

21,23

104,49
0,94
0,04
16,17
3,32
0,27
0,27
477,34

134,88
300,38
58,00
338,16
299,53
158,63
42,12
94,09
189,00
30,28
130,95
538,50
21,80
6,08
74,04
574,41
24,19
49,41
264,27
49,57
137,12
178,50
232,88
81,56
99,73
378,43
230,36
449,13
122,13
63,25
403,77
93,45
350,06
467,79
216,31
12,90
261,02
4,28
230,46
175,93
293,54
29,80
377,65
61,51
292,83
345,60
51,80
9.020,08

-

0,38

0,02

0,34

0,09
6,64

1,52

2,54

2,86

-

14,39

 
 
 
Table 3.2.7 (continued)
Situation by instrument and by state (EUR million)

9th EDF
Payments cumulative

2011

A Envelope

Cotonou

B Envelope

Lomé

Macroeconomic 
support

Sectoral policies

 A Envelope

Compensation 
export earnings

Emergency aid

Heavily indebted 
poor countries

B Envelope

Implementation 
costs

Transfers from 
6th EDF - Lomé

Transfers from 
7th EDF - Lomé

Voluntary 
contribution 
Peace Facility

Total state

4,99
3,99
10,47
7,10
3,48
28,09
8,23
19,69
100,14
29,85
4,42
11,53
8,76
42,66
4,35
287,77
2,66
10,78
21,54
8,28
3,21
4,39
1,67
1,83
1,80
55,43
8,82
4,96
4,13
10,81
21,62
161,93

6,40
80,71
9,88
19,07
3,54
2,50

26,98
149,08

1,91

1,91

Antigua & Barbuda
Bahamas
Barbados
Belize
Dominica
Dominican Republic
Grenada
Guyana
Haiti
Jamaica
Saint Kitts & Nevis
Saint Lucia
Saint Vincent & the Grenadines
Suriname
Trinidad & Tobago

Cook Islands
East Timor
Fiji
Kiribati
Marshall Islands
Micronesia
Nauru
Niue
Palau
Papua New Guinea
Solomon Islands
Tonga
Tuvalu
Vanuatu
Western Samoa

* Total Caribbean

* Total Pacific

Caribbean Region
Central Africa Region
Eastern, Southern Africa and the Indian Ocean 
Multiregional PALOP
Pacific Region
Regional cooperation ACP
Southern Africa Region 
West Africa Region

* Total regional cooperation ACP

Administrative and financial expenditure
All ACP countries

* Total ACP

2.187,50

6.062,53

Administrative and financial expenditure
All OCT countries
Anguilla
British Virgin Islands
Cayman Islands
Falkland Islands
Montserrat
Pitcairn Islands
Saint Helena
Turks & Caicos Islands

* Total British OCT

* Total Dutch OCT

Aruba
Netherlands Antilles

French Polynesia
Mayotte
New Caledonia
Saint Pierre & Miquelon
Wallis & Futuna

Regional cooperation OCT

* Total French OCT

* Total regional cooperation OCT
* Total OCT
* Total ACP + OCT

9,18
9,18

12,16
0,72

4,52
20,38
0,10
17,82
0,02
55,72
10,26
49,52
59,77
10,78
6,71
27,77
18,88
9,36
73,51

9,18
2.196,68

189,01
6.251,53

4,99
3,99
10,47
7,10
9,88
108,80
18,11
38,76
103,68
32,35
4,42
11,53
8,76
42,66
31,33
436,85
2,66
10,78
21,54
8,28
3,21
4,39
1,67
1,83
1,80
55,43
8,82
4,96
4,13
12,72
21,62
163,84
97,35
48,10
217,79
12,07
38,31
2.297,00
79,47
143,17
2.933,26
89,41
153,95
11.426,66

12,16
0,72
-
4,52
20,38
0,10
17,82
9,20
64,90
10,26
49,52
59,77
10,78
6,71
27,77
18,88
9,36
73,51
36,69
36,69
234,88
11.661,54

4,38
18,19

8,40

1,92

2,60

35,49

10,34
2,13

1,62
1,89
15,97

0,64

14,96
5,88
0,69
154,15
26,02

0,69

203,03
0,60

1,16
1,52
0,71
0,90
0,32
0,60
0,38
2,36
0,35
1,48
0,45
1,56
0,02
12,40

-

-

-

-

-

142,91

991,82

11,20

4,47

4,47

-

-

-

-

-

-

-

-
-
-
0,64
4,38
33,15
5,88
9,09
154,15
27,94
-
-
2,60
0,69
-
238,52
0,60
-
1,16
1,52
0,71
0,90
0,32
0,60
0,38
12,70
2,48
1,48
0,45
3,18
1,91
28,38
33,34
11,66
35,54

88,21
13,53
21,41
203,68

1.349,61
-
-
-
-
4,47
-
-
-
-
-
4,47

-

-

-

-

-
331,51

331,51

0,73

-

-

-

124 
-
142,91

4,47
996,29

-
11,20

4,47
1.354,08

0,73
332,24

4,99
3,99
10,47
7,75
14,26
141,95
23,99
47,85
257,83
129,37
4,42
11,53
11,37
43,46
35,33
748,56
3,26
10,78
23,20
10,14
3,92
5,29
1,99
2,43
2,18
71,37
11,70
6,45
4,58
15,89
23,53
196,72
130,69
59,76
253,34
12,07
38,31
2.461,57
93,00
164,57
3.213,31
420,93
183,56
13.783,15
-
0,73
12,16
0,72
4,47
4,52
20,38
0,10
17,82
9,20
69,37
10,32
51,64
61,96
10,83
6,71
28,66
18,88
9,36
74,44
36,73
36,73
243,23
14.026,38

0,07

69,01

0,11

0,17

-

4,00
73,01

0,50
0,35

3,24
0,41

-

4,49

-

3,97

48,02

24,38

3,97

0,50
19,03

48,02

24,38

29,10
631,97

24,38

-

-

-
0,03
0,03
0,03
19,05

-
0,06
2,13
2,19
0,04

0,89

0,93
0,00
0,00
3,13
635,09

-

-

-

-
24,38

 
 
 
Table 3.2.8
Situation by instrument and by state (EUR million)
9th EDF
Payments annual

2011

Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville) 

Democratic Republic of Congo

Djibouti
Equatorial Guinea
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea Bissau
Guinea (Conakry)
Ivory Coast
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome & Principe
Senegal
Seychelles
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe

* Total Africa

Macroeconomic 
support

Sectoral policies

Total A Envelope

A Envelope

Cotonou

Compensation 
export earnings

B Envelope

Emergency aid

Debt relief

B Envelope

Implementation 
costs

Transfers 
from 6th EDF 

Lomé
Transfers from 7th 
EDF - Lomé

Voluntary 
contribution 
Peace Facility

Total state

0,01

(0,27)

0,23

(0,01)
0,01
0,03

25,01

0,34

0,01

0,02

0,16
(0,04)

25,50

4,99
6,48
2,15
5,26
21,99
8,00
5,42
24,34
11,74
4,33
1,85

18,47

3,48
0,11
20,28
3,51
3,28
11,87
6,70
4,65
12,09

25,92
24,35
7,47
9,98
17,24
5,25
13,74
0,10
11,79
10,53
4,25
24,96
1,72
0,41
8,48
1,40
15,50
11,19
(0,15)
3,88
15,33
2,34
28,49
4,38
1,29
430,83

4,99
6,49
2,15
5,00
21,99
8,00
5,42
24,34
11,74
4,33
1,85

18,47

3,48
0,11
20,28
3,51
3,28
11,87
6,70
4,88
12,09
-
25,92
24,35
7,47
9,97
17,25
5,27
13,74
0,10
11,79
10,53
29,26
24,96
2,06
0,41
8,49
1,40
15,52
11,19
(0,15)
3,88
15,33
2,34
28,65
4,34
1,29
456,33

-
-
-
-
3,76
0,05
-
0,14
0,67
0,21
-

7,16

-
-
-
0,02
-
0,14
0,15
-
6,95
19,10
(2,36)
-
-
-
0,21
0,77
2,32
-
(0,03)
-
(0,48)
-
-
0,77
0,71
-
0,33
-
(0,10)
-
-
9,77
0,67
-
0,94
51,89

-

3,76
0,05

0,14
0,67
0,21

7,16

0,02

0,15

6,95
19,10
(2,36)

0,21
0,77

(0,03)

(0,48)

0,77
0,71

0,33

(0,10)

9,77
0,67

0,94
49,42

0,14

2,32

2,47

125 

(0,01)

(0,65)

0,26

(0,15)
0,06

0,00

(0,04)

0,42

(0,01)

-
0,06

0,03
(0,22)

-

-

(0,27)

-

4,99
6,49
2,15
4,98
25,75
8,05
5,42
24,48
12,42
4,54
1,20

25,89

3,48
0,11
20,28
3,53
3,28
12,01
6,85
4,73
19,10
19,10
23,57
24,35
7,47
9,97
17,46
6,05
16,07
0,10
11,71
10,53
28,78
25,37
2,06
1,18
9,20
1,40
15,83
11,19
(0,26)
3,94
15,33
12,14
29,11
4,34
2,23
507,96

 
 
 
Macroeconomic 
support

Sectoral policies

Total A Envelope

A Envelope

Cotonou

Compensation 
export earnings

B Envelope

Emergency aid

Debt relief

B Envelope

Implementation 
costs

Transfers 
from 6th EDF 

Lomé
Transfers from 7th 
EDF - Lomé

Voluntary 
contribution 
Peace Facility

Total state

Table 3.2.8 (continued)
Situation by instrument and by state (EUR million)
9th EDF
Payments annual

2011

Antigua & Barbuda
Bahamas
Barbados
Belize
Dominica
Dominican Republic
Grenada
Guyana
Haiti
Jamaica
Saint Kitts & Nevis
Saint Lucia
Saint Vincent & the Grenadines
Suriname
Trinidad & Tobago

Cook Islands
East Timor
Fiji
Kiribati
Marshall Islands
Micronesia
Nauru
Niue
Palau
Papua New Guinea
Solomon Islands
Tonga
Tuvalu
Vanuatu
Western Samoa

* Total Caribbean

* Total Pacific

Caribbean Region
Central Africa Region
Eastern, Southern Africa and the Indian Ocean 
Multiregional PALOP
Pacific Region
Regional cooperation ACP
Southern Africa Region 
West Africa Region

(0,07)
1,02

0,13
0,65
1,89
0,48
4,87
2,98
4,07
0,76
10,20
1,36
1,73
(0,12)
29,95
0,18
1,39
0,45

0,08
0,09
0,05
0,03
0,06
6,06
0,08
0,50
(0,10)
0,22
1,89
10,97

1,49

0,25

0,21

22,30
24,25

0,12

0,12

* Total regional cooperation ACP

-

-

Administrative and financial expenditure
All ACP countries

* Total ACP

49,88

471,75

Anguilla
British Virgin Islands
Cayman Islands
Falkland Islands
Montserrat
Pitcairn Islands
Saint Helena
Turks & Caicos Islands

Aruba
Netherlands Antilles

French Polynesia
Mayotte
New Caledonia
Saint Pierre & Miquelon
Wallis & Futuna

* Total British OCT

0,53
0,53

* Total Dutch OCT

* Total French OCT

Regional cooperation OCT

* Total regional cooperation OCT

Administrative and financial expenditure
All OCT countries

0,11

1,60

3,30

5,01
0,18
0,01
0,19
0,07
4,15
2,39
3,13
5,41
15,15

1,50
3,86

0,13

1,80

7,30

2,58
1,68

0,09
4,34

1,77
(1,69)

8,07

8,15
0,60

0,90
0,96

2,46

-

-

14,11

60,03

(1,66)

(1,66)

(0,07)
1,02
-
0,13
2,14
1,89
0,73
4,87
3,19
4,07
0,76
10,20
1,36
1,73
22,18
54,20
0,18
1,39
0,45
-
0,08
0,09
0,05
0,03
0,06
6,06
0,08
0,50
(0,10)
0,34
1,89
11,09
8,49
3,62
22,28
2,68
1,88
179,49
12,00
21,18
251,63

0,50
773,76
-
0,11
-

1,60
-
3,30
0,53
5,55
0,18
0,01
0,19
0,07
4,15
2,39
3,13
5,41
15,15
9,60
9,60

-
-
-
-
1,50
5,63
(1,69)
-
8,07
0,13
-
-
1,80
-
-
15,44
0,60
-
0,90
0,96
-
-
-
-
-
2,58
1,68
-
-
-
0,09
6,80
4,39
4,35
7,65

3,63
3,34
3,65
27,02

101,16
-
-
(1,66)
-
-
-
-
-
(1,66)

-

-

-

-
-

* Total OCT
* Total ACP + OCT

0,53
50,41

20,35
492,10

30,48
804,24

-
126 
14,11

(1,66)
58,37

(1,66)
99,50

-
2,56

-

-

-

-

-
2,56

2,56

(0,07)

(0,07)

(0,27)

(0,27)

(0,61)

-
(0,61)

-

-

-
-

-

-

-
-

(0,07)
1,02
-
0,13
3,64
7,52
(0,96)
4,87
11,25
4,20
0,76
10,20
3,16
1,73
22,18
69,65
0,77
1,39
1,35
0,89
0,08
0,09
0,05
0,03
0,06
8,64
1,76
0,50
(0,10)
0,34
1,97
17,82
12,88
7,97
29,94
2,68
1,88
182,85
15,34
24,83
278,38
2,56
0,50
876,87
-
0,11
(1,66)
-
1,60
-
3,30
0,53
3,89
0,18
0,01
0,19
0,07
4,15
2,39
3,13
5,41
15,15
9,60
9,60

28,82
905,69

 
 
 
Table 3.3.1.
 Overall situation by instrument and country (EUR million)

10th EDF 

cumulative 2011

NIP

Cotonou

A Envelope

B Envelope

Total

Decisions

as % of 
NIP

Payments

as % of 
NIP

Decisions

as % of 
NIP

Payments

as % of 
NIP

Decisions

Assigned funds

Payments

Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville) 
Democratic Republic of Congo
Djibouti
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea Bissau
Guinea (Conakry)
Ivory Coast
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome & Principe
Senegal
Seychelles
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe

 207,00
 334,00
 73,00
 529,00
 188,00
 241,28
 49,90
 137,00
 299,00
 45,00
 85,00
 514,00
 40,50
 122,00
 644,00
 49,00
 76,00
 368,35
 97,00

 218,00
 389,89
 139,30
 150,00
 577,00
 436,00
 533,00
 156,00
 54,00
 603,00
 123,60
 458,00
 677,00
 348,00
 16,60
 314,31
 11,40
 242,00
 212,00
-
 63,00
 555,00
 127,54
 440,87
 475,00

 81,50
 251,50
 73,00
 497,73
 143,88
 229,20
 29,60
 118,85
 242,00
 29,92
 40,50
 510,00
 16,50
 53,70
 468,64
 34,00
 48,00
 308,35
 35,00

 216,62
 236,39
 131,65
 118,24
 6,00
 281,25
 448,80
 78,40
 51,00
 497,17
 76,30
 325,00
 570,00
 275,40
 16,60
 243,80
 8,40
 150,67
 212,00
-
 54,80
 440,50
 56,13
 381,00
 410,90

39%
75%
100%
94%
77%
95%
59%
87%
81%
66%
48%
99%
41%
44%
73%
69%
63%
84%
36%

99%
61%
95%
79%
1%
65%
84%
50%
94%
82%
62%
71%
84%
79%
100%
78%
74%
62%
100%
0%
87%
79%
44%
86%
87%

 8,65
 91,04
 27,17
 208,76
 61,99
 47,83
 25,59
 18,44
 32,69
 2,37
 4,58
 108,12
 3,61
 2,08
 222,37
 0,89
 15,94
 97,88
 10,89

 37,59
 12,72
 29,90
 56,94
 0,02
 98,83
 141,45
 0,51
 34,62
 204,08
 12,12
 56,36
 17,71
 136,36
 2,24
 108,13
 5,32
 56,28
 64,57

 10,05
 192,37
 34,94
 129,55
 126,83

* Total Africa

11 419,53

8 498,88

74%

2 560,41

127 

4%
27%
37%
39%
33%
20%
51%
13%
11%
5%
5%
21%
9%
2%
35%
2%
21%
27%
11%

17%
3%
21%
38%
0%
23%
27%
0%
64%
34%
10%
12%
3%
39%
13%
34%
47%
23%
30%

16%
35%
27%
29%
27%

22%

 46,37
 10,50
 41,84
 46,61
 10,40
 9,00
 28,01
 10,00
 9,60
 6,25
 110,32
 2,14
 4,86
 45,23

 2,64
 41,02
 14,95
 35,88
 32,84
 30,55
 21,00
 26,93
 8,20
 54,39
 18,42
 2,73
 11,49
 12,11

 33,80
 2,00
 9,44
 1,00
 18,03
 9,00
 35,02

 0,89
 21,66
 16,92
 5,48
 37,33
 58,26
 943,09

0%
14%
14%
8%
25%
4%
18%
20%
3%
21%
7%
21%
5%
4%
7%

3%
11%
15%

15%
8%
15%
18%
1%
12%
3%
2%
21%
2%

7%
0%
3%
6%
6%
79%
14%

1%
4%
13%
1%
8%

8%

 43,93
 10,50
 10,99
 41,73
 0,98
 9,00
 27,45
 6,08
 7,27
 5,54
 82,50
 1,20
 4,86
 39,82

 2,11
 41,02
 14,95
 6,70
 12,26
 14,73
 21,00
 23,98
 3,96
 54,19
 14,38
 1,49
 11,49
 12,11

 32,49
 1,60
 9,44
 0,59
 2,32
 8,47
 33,70

 0,17
 14,84
 14,81
 5,10
 35,82
 29,82
 715,41

13%
14%
2%
22%
0%
18%
20%
2%
16%
7%
16%
3%
4%
6%

3%
11%
15%

6%
4%
15%
16%
1%
12%
3%
1%
21%
2%

7%
0%
3%
4%
1%
74%
14%

0%
3%
12%
1%
8%

6%

 81,50
 307,53
 83,50
 539,57
 191,40
 239,60
 38,60
 146,86
 252,00
 39,51
 46,75
 620,32
 18,64
 58,56
 513,87
 34,00
 50,64
 349,37
 49,95
 35,88
 249,45
 266,94
 156,01
 145,17
 14,20
 335,64
 467,22
 81,13
 62,49
 521,28
 76,30
 358,80
 572,00
 284,84
 17,60
 261,83
 17,40
 185,69
 212,00
-
 55,69
 462,16
 73,05
 386,48
 448,23
 58,26
9 467,90

 24,60
 224,23
 73,78
 423,59
 122,30
 150,58
 36,94
 59,50
 85,22
 17,06
 17,12
 290,51
 5,58
 11,64
 358,23
 1,30
 31,62
 319,60
 39,08
 11,97
 70,04
 58,96
 53,19
 131,39
 7,39
 245,94
 386,40
 4,41
 47,65
 480,66
 66,05
 234,44
 30,20
 264,18
 3,97
 196,98
 16,90
 116,63
 111,75

 18,78
 408,98
 54,74
 341,40
 385,03
 42,48
6 083,00

 8,65
 135,31
 37,67
 219,75
 103,72
 48,82
 34,59
 45,89
 38,78
 9,64
 10,12
 190,62
 4,81
 6,94
 262,19
 0,89
 18,06
 138,90
 25,84
 6,70
 49,84
 27,45
 50,90
 80,91
 3,98
 153,02
 155,83
 2,01
 46,11
 216,19
 12,12
 88,86
 19,31
 145,80
 2,83
 110,45
 13,79
 89,98
 64,57

 10,22
 207,21
 49,76
 134,65
 162,66
 29,82
3 276,16

 
 
 
A Envelope

B Envelope

Cotonou

Total

as % of 
NIP

Decisions

as % of 
NIP

Payments

as % of 
NIP

Decisions

Assigned funds

Payments

 9,00

265%

 9,00

265%

 12,40

 12,27

 11,49

73%

5%
7%
5%
25%
12%
0%
28%
44%
7%
5%
1%
17%
15%

25%
9%
9%

16%
15%
19%
8%
41%
15%
2%
18%
4%
40%
7%
30%

10%
5%
4%
9%
31%
13%
14%
1%
0%
78%

22%

Table 3.3.1 (continued)
 Overall situation by instrument and country (EUR million)

10th EDF 

cumulative 2011

Antigua & Barbuda
Bahamas
Barbados
Belize
Dominica
Dominican Republic
Grenada
Guyana
Haiti
Jamaica
Saint Kitts & Nevis
Saint Lucia
Saint Vincent & the Grenadines
Suriname
Trinidad & Tobago

* Total Caribbean

Cook Islands
East Timor
Fiji
Kiribati
Marshall Islands
Micronesia
Nauru
Niue
Palau
Papua New Guinea
Solomon Islands
Tonga
Tuvalu
Vanuatu
Western Samoa

* Total Pacific

Caribbean Region
Central Africa Region 
Eastern, Southern Africa and the Indian Ocean 
Intra ACP Allocations
Multiregional PALOP
Pacific Region
Southern Africa Region 
West Africa Region

Administrative and financial expenditure

* Total regional cooperation ACP

NIP

Decisions

 3,40

 3,40

as % of 
NIP
100%

Payments

 2,49

 9,80
 11,80
 7,37
 179,00
 6,00
 51,00
 291,00
 110,60
 4,50
 17,07
7,80
 19,80
 25,50
 744,64

 3,00
 78,50

 12,70
 5,30
 8,30
 2,70
 3,00
 2,90
 130,00
 13,20
 5,90
 5,00
 21,60
 30,00

 322,10
 165,00
 165,00
645,00
2 700,00
 33,10
 95,00
 116,00
 597,00
4 516,10

 1,46
 11,80
 0,57
 117,90
 1,00
 5,00
 263,83
 89,50
 4,50
 10,19
7,80
 19,80
 18,34
 555,09

 1,05
 54,00

 8,41
 5,00
 8,10
 2,50
 2,55
 2,72
 27,68
 9,96
 0,90
 5,00
 8,78
 19,25

 155,90
 130,84
 129,72
198,09
2 150,22
 7,10
 53,90
 28,00
 31,30
2 729,17

15%
100%
8%
66%
17%
10%
91%
81%
100%
60%
100%
100%
72%
75%

35%
69%

66%
94%
98%
93%
85%
94%
21%
75%
15%
100%
41%
64%

48%
79%
79%
31%
80%
21%
57%
24%
5%
60%

 0,45
 0,78
 0,37
 44,29
 0,73
 0,24
 81,27
 48,20
 0,33
 0,78
0,08
 3,37
 3,93
 187,30

 0,26
 6,85

 2,06
 0,77
 1,55
 0,22
 1,24
 0,43
 2,55
 2,36
 0,23
 1,98
 1,42
 8,85

 30,77
 8,91
 6,64
56,91
 850,35
 4,31
 13,27
 0,84
 0,71
941,94

* Total ACP

17 002,38

11 939,04

70%

3 720,42

Mayotte
New Caledonia
French Polynesia
Saint Pierre & Miquelon
French Southern Territories
Wallis & Futuna

Aruba
Netherlands Antilles

* Total French OCT

* Total Dutch OCT

 19,81

 20,74

 40,55
 8,80

 8,80

 19,81

100%

 20,74

100%

 40,55
 8,80

100%
100%

 8,80

100%

Anguilla
British Antarctica
British Indian Ocean Territories
Cayman Islands
Falkland Islands
Montserrat
Pitcairn Isslands
Saint Helena
Turks & Caicos Islands
British Virgin Islands

 16,63

 16,63

100%

* Total British OCTs

 16,63

 16,63

100%

OCT regional cooperation, FR

OCT regional cooperation, NL

OCT regional cooperation, UK

All OCT countries

* Total regional cooperation OCT

 5,27
 15,33
 8,79

72%
9%
147%

 132,18
 25,90
 1,80
 1,03
0,45

 199,75

 0,32

 1,00
 0,50

45%
23%
40%

6%
0%
0%
27%

11%
0%

8%

 5,27
 15,33
 8,79

 48,64
 18,90

72%
9%
147%

17%
17%

 0,82

5%

 106,75

 0,19

14%

6%

 0,65
 17,68
 5,71
 1,50
 1,40
 9,50
 38,26

1%
134%
97%
30%
6%
32%
12%

 0,58
 15,01
 5,65
 1,50

 9,50
 32,42

0%
114%
96%
30%

32%
10%

-

-

-

1 181,10

7%

 854,58

-

5%

 2,00

 1,08
 3,08

8%

 4,30

 4,30

26%

 1,46
 11,80
 5,84
 133,23
 9,79
 5,00
 434,51
 115,40
 6,30
 11,22
8,25
 19,80
 18,34
 793,34

 1,37
 54,00

 9,41
 5,50
 8,10
 2,50
 2,55
 2,72
 28,33
 27,63
 6,61
 6,50
 10,18
 28,75
 194,15
 130,84
 129,72
198,09
2 162,38
 7,10
 53,90
 28,00
 31,30
2 741,33
459,99
13 656,72

 19,81
 2,00
 20,74

 1,08
 43,63
 8,80

 8,80

 16,63
 4,30

 20,93

4,00
 77,36

 0,93
 3,28
 5,82
 114,68
 9,73
 2,34
 168,04
 92,82
 0,41
 1,89
0,69
 18,43
 15,60
 446,94

 1,05
 34,23

 5,43
 4,44
 7,55
 0,43
 2,14
 2,50
 5,35
 19,72
 6,08
 4,76
 2,89
 26,28
 122,85
 29,02
 24,82
118,64
1 449,63
 6,66
 50,72
 4,12
 10,82
1 694,43
294,39
8 641,61

 0,45
 0,78
 5,64
 59,62
 9,52
 0,24
 129,92
 67,10
 0,33
 1,60
0,08
 3,37
 3,93
 294,07

 0,44
 6,85

 2,06
 0,77
 1,55
 0,22
 1,24
 0,43
 3,14
 17,36
 5,87
 3,48
 1,42
 18,35
 63,20
 8,91
 6,64
56,91
 852,73
 4,31
 13,27
 0,84
 0,71
944,32
272,69
4 850,44

 4,17

 4,17

2,14
 6,31

1,39
 1,39

13 734,07

8 647,92

4 851,83

* Total OCT
* Total ACP + OCT

 65,98
17 068,36

 65,98
12 005,02

100%
70%

-
3 720,42

-

22%

 7,38

1 188,47

11%

18%

-

 854,58

-

5%

128 

 
 
 
Table 3.3.2. 
Overall situation by instrument and country (EUR million)

10th EDF 

annual 2011

NIP

A Envelope

B Envelope

Cotonou

TOTAL

Decisions

as % of 
NIP

Payments

as % of 
NIP

Decisions

as % of 
NIP

Payments

as % of 
NIP

Decisions

Assigned 
funds

Payments

Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville) 
Democratic Republic of Congo
Djibouti
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea Bissau
Guinea (Conakry)
Ivory Coast
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome & Principe
Senegal
Seychelles
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe

 207,00
 334,00
 73,00
 529,00
 188,00
 241,28
 49,90
 137,00
 299,00
 45,00
 85,00
 514,00
 40,50
 122,00
 644,00
 49,00
 76,00
 368,35
 97,00

 218,00
 389,89
 139,30
 150,00
 577,00
 436,00
 533,00
 156,00
 54,00
 603,00
 123,60
 458,00
 677,00
 348,00
 16,60
 314,31
 11,40
 242,00
 212,00

 63,00
 555,00
 127,54
 440,87
 475,00

 25,00
 63,00
 8,00
 23,50
 62,88
 4,50
-
 12,70
 87,00
 2,10
 20,20
 179,70
 12,00
-
 63,00
 12,00
 15,00
 14,35
-

 125,00
 23,34
 57,65
 1,89
 6,00
( 6,75)
 11,50
 66,00
 11,50
 32,00
 3,50
 102,00
 478,00
( 8,75)
-
 31,00
-
 16,50
 95,00

 26,50
 35,00
 16,00
-
 4,00

12%
19%
11%
4%
33%
2%

9%
29%
5%
24%
35%
30%

10%
24%
20%
4%

57%
6%
41%
1%
1%
-2%
2%
42%
21%
5%
3%
22%
71%
-3%

10%

7%
45%
0%
42%
6%
13%

1%

 6,36
 30,84
 12,51
 64,34
 23,55
 31,50
 8,65
 1,10
 21,70
 0,72
 3,03
 72,09
 2,33
 1,49
 64,74
 0,81
 14,72
 48,08
 1,35

 7,86
 8,94
 15,21
 14,50
 0,02
 19,08
 72,48
 0,51
 17,01
 64,81
 10,08
 19,05
 17,56
 47,70
 1,33
 63,97
 2,85
 17,74
 25,79

 8,05
 69,88
 9,68
 72,26
 45,35

3%
9%
17%
12%
13%
13%
17%
1%
7%
2%
4%
14%
6%
1%
10%
2%
19%
13%
1%

4%
2%
11%
10%
0%
4%
14%
0%
31%
11%
8%
4%
3%
14%
8%
20%
25%
7%
12%

13%
13%
8%
16%
10%

* Total Africa

11 419,53

1 731,80

15%

1 041,61

9%

129 

-

 3,00
 1,00
 0,90

-
-

-
 9,98
 0,60

1%
1%
0%

2%
1%

 15,00

2%

0%
3%

 20,60
( 0,73)
 12,20

-
-

 3,37

1%

 3,01

 2,55
 2,78
 0,98

 1,14
 1,29

 1,17
 22,81
 1,20
 0,10
 29,82

 1,48
 12,26
 3,51

 15,17
 1,55
 0,10
 4,70
 0,43
 0,59

( 0,00)

0%

 11,66

 0,50
-
-
-

-
 6,82
 1,80

 34,00
 109,03

3%

1%
1%

1%

 1,00
 0,15
 2,04
 0,47
 5,28

 0,12

 2,81
 0,50
 0,06
 18,01
 148,75

1%

0%
1%
0%

1%
0%

1%
4%
3%
0%
5%

6%
1%

10%
0%
0%
1%
0%
1%

3%

0%
1%
1%
4%
2%

0%

2%
0%
0%

1%

 25,00
 63,00
 8,00
 26,50
 64,79
 5,40
-
 12,70
 87,00
 2,10
 20,20
 189,68
 12,60
-
 78,00
 12,00
 15,00
 14,35
-
 20,60
 124,27
 35,54
 61,01
 1,89
 6,00
( 6,75)
 14,87
 66,00
 11,50
 32,00
 3,50
 102,00
 478,00
( 8,75)
 0,50
 31,00
-
 16,50
 95,00
-
 26,50
 41,82
 17,80
-
 4,00
 34,00
1 845,11

 3,22
 21,35
 0,53
 6,21
 12,72
 58,96
 1,62
 11,91
 51,14
 5,33
 2,38
 150,01
 2,54
 4,27
 29,25
 1,04
 25,06
 96,57
 2,69
 4,68
 10,75
 30,15
 5,46
 20,41
 2,46
 44,08
 41,92
 1,81
 2,62
 24,23
 60,03
 155,78
 27,67
 164,70
 1,38
 46,18
 0,72
 22,46
 19,40

 6,36
 34,10
 12,51
 66,88
 26,33
 32,48
 8,65
 2,24
 22,99
 0,72
 4,21
 94,90
 3,53
 1,58
 94,56
 0,81
 14,72
 48,08
 1,35
 1,48
 20,12
 12,45
 15,21
 29,67
 1,56
 19,18
 77,18
 0,94
 17,60
 64,81
 10,08
 30,72
 17,56
 48,70
 1,48
 66,01
 3,32
 23,02
 25,79

 15,43
 9,36
 12,63
 34,96
 71,91
 20,78
1 338,75

 8,17
 69,88
 12,50
 72,75
 45,41
 18,01
1 190,61

 
 
 
A Envelope

B Envelope

Cotonou

Decisions

as % of 
NIP

Payments

as % of 
NIP

Decisions

as % of 
NIP

Payments

as % of 
NIP

Decisions

 2,40

71%

TOTAL

Assigned 
funds

Payments

 3,10

 2,40

Table 3.3.2 (continued)
Overall situation by instrument and country (EUR million)

10th EDF 

annual 2011

Antigua & Barbuda
Bahamas
Barbados
Belize
Dominica
Dominican Republic
Grenada
Guyana
Haiti
Jamaica
Saint Kitts & Nevis
Saint Lucia
Saint Vincent & the Grenadines
Suriname
Trinidad & Tobago

* Total Caribbean

Cook Islands
Fiji
East Timor
Kiribati
Marshall Islands
Micronesia
Nauru
Niue
Palau
Papua New Guinea
Solomon Islands
Tonga
Tuvalu
Vanuatu
W estern Samoa

* Total Pacific

Caribbean Region
Central Africa Region 
Eastern, Southern Africa and the Indian Ocean 
Intra ACP Allocations
Multiregional PALOP
Pacific Region
Southern Africa Region 
W est Africa Region

Administrative and financial expenditure

* Total regional cooperation ACP

NIP

 3,40

 9,80
 11,80
 7,37
 179,00
 6,00
 51,00
 291,00
 110,60
 4,50
 17,07
 7,80
 19,80
 25,50
 744,64
 3,00

 78,50
 12,70
 5,30
 8,30
 2,70
 3,00
 2,90
 130,00
 13,20
 5,90
 5,00
 21,60
 30,00
 322,10
 165,00
 165,00
 645,00
2 700,00
 33,10
 95,00
 116,00
 597,00
4 516,10

-
-

 16,70
-
-
 7,33
 14,75
-
 8,97
 0,78
-
 1,00
 49,53
 0,60

 10,00
-
-
-
-
-
-
 0,51
-
-
-
 1,88
-
 12,99
 99,54
 70,00
 18,30
 590,57
-
-
 23,00
 7,00
808,40

9%

3%
13%

53%
10%

4%
7%
20%

13%

0%

9%

4%
60%
42%
3%
22%

20%
1%
18%

 0,03
 0,72
 0,04
 15,79
 0,25
 0,12
 45,54
 1,82
 0,05
 0,30
 0,00
 1,69
 3,73
 72,46
 0,11

 5,76
 1,62

 0,26
 0,03
 0,65

 0,99
 0,85
 0,23
 1,66
 0,62
 4,12
 16,90
 8,75
 6,53
 51,08
 396,14
 3,05
 11,36
 0,84
 0,54
478,28

0%
6%
0%
9%
4%
0%
16%
2%
1%
2%
0%
9%
15%
10%
4%

7%
13%

3%
1%
22%

1%
6%
4%
33%
3%
14%
5%
5%
4%
8%
15%
9%
12%
1%
0%
11%

 60,00
 7,00

21%
6%

 11,06

4%

 1,03

6%

 0,82

5%

 68,03

9%

 11,88
 0,19

2%
6%

 0,50

9%

-
 2,48
-
-

 2,59
 5,56

19%

9%
2%

 0,05
 0,01
 5,50
 1,50

 9,50
 16,75

0%
0%
93%
30%

32%
5%

* Total ACP

17 002,38

2 602,73

15%

1 609,26

9%

 182,62

1%

 177,38

1%

Mayotte
New Caledonia
French Polynesia
Saint Pierre & Miquelon
French Southern Territories
W allis & Futuna

Aruba
Netherlands Antilles

 19,81

 19,81

100%

 20,74

 20,74

100%

* Total French OCT

 40,55

 40,55

 8,80

 8,80

100%
100%

* Total Dutch OCT

 8,80

 8,80

100%

 2,00

 1,08
 3,08

8%

Anguilla
British Antarctica
British Indian Ocean Territories
Cayman Islands
Falkland Islands
Montserrat
Pitcairn Isslands
Saint Helena
Turks & Caicos Islands
British Virgin Islands

 16,63

 16,63

100%

* Total British OCT

 16,63

 16,63

100%

OCT regional cooperation, FR

OCT regional cooperation, NL

OCT regional cooperation, UK

* Total regional cooperation OCT

All OCT countries

* Total OCT
* Total ACP + OCT

 65,98
17 068,36

 65,98
2 668,71

16%

1 609,26

9%

 3,08
 185,69

1%

 177,38

1%

130 

 0,23
 0,39
-
 33,30
 0,22
 0,60
 69,43
 1,66
 0,06
 1,08
 0,59
 0,63
 15,26
 126,54
 0,80

 31,13
 3,67
 0,07
 0,31
 0,05
 0,39
 0,09
 0,53
( 0,68)
 5,69
 4,34
 1,30
 9,40
 57,09
 28,67
 23,48
 56,23
 743,58
 0,42
 29,95
 4,12
 9,55
895,99
90,78
2 509,15

 0,03
 0,72
 0,04
 15,79
 0,25
 0,12
 56,61
 1,82
 0,05
 1,12
 0,00
 1,69
 3,73
 84,36
 0,30

 5,76
 1,62

 0,26
 0,03
 0,65

 1,05
 0,85
 5,73
 3,16
 0,62
 13,62
 33,65
 8,75
 6,53
 51,08
 397,89
 3,05
 11,36
 0,84
 0,54
480,04
89,71
1 878,37

-
-

 16,70
-
-
 67,33
 21,75
-
 10,00
 0,78
-
 1,00
 117,56
 0,60

 10,00
-
 0,50
-
-
-
-
 0,51
 2,48
-
-
 1,88
 2,59
 18,55
 99,54
 70,00
 18,30
 602,08
-
-
 23,00
 7,00
819,91
245,34
3 046,47

 19,81
 2,00
 20,74

 1,08
 43,63
 8,80

 8,80

 16,63

 16,63

 4,17

 4,17

 2,00

 0,44

 0,71

 71,06
3 117,53

 4,61
2 513,75

 0,71
1 879,08

 
 
 
Table 3.3.3. 
Situation by instrument and country (EUR million)

10th EDF 

Cotonou

B Envelope

Decisions cumulative 2011

A Envelope

Compensation 
export earnings

Emergency aid

Heavily 
indebted poor 
countries

Other chocs with 
budgetary 
impact

Total B 
Envelope

Implementatio
n costs

Cofinancing

TOTAL 
STATE

Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville) 
Democratic Republic of Congo
Djibouti
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea Bissau
Guinea (Conakry)
Ivory Coast
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome & Principe
Senegal
Seychelles
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe

 81,50
 251,50
 73,00
 497,73
 143,88
 229,20
 29,60
 118,85
 242,00
 29,92
 40,50
 510,00
 16,50
 53,70
 468,64
 34,00
 48,00
 308,35
 35,00

 216,62
 236,39
 131,65
 118,24
 6,00
 281,25
 448,80
 78,40
 51,00
 497,17
 76,30
 325,00
 570,00
 275,40
 16,60
 243,80
 8,40
 150,67
 212,00
-
 54,80
 440,50
 56,13
 381,00
 410,90

 1,55

 18,42
 10,79
 10,40

 2,80
 10,00

 6,25
 34,55
 2,14
 4,86
 45,23

 2,64

 3,77
 35,88

 30,55

 7,09
 8,20
 10,39
 7,35
 2,73

 33,80
 2,00
 9,44
 1,00
 6,23

 13,02

 9,42
 0,85

 20,70

 3,37

 0,59

 0,89

 44,82
 10,50
 14,00
 34,97

 9,00
 25,21

 2,33

 7,27

 12,14

 7,34

 12,11

-
 46,37
 10,50
 41,84
 46,61
 10,40
 9,00
 28,01
 10,00
 9,60
 6,25
 110,32
 2,14
 4,86
 45,23
-
 2,64
 41,02
 14,95
 35,88
 32,84
 30,55
 21,00
 26,93
 8,20
 54,39
 18,42
 2,73
 11,49
 12,11
-
 33,80
 2,00
 9,44
 1,00
 18,03
 9,00
 35,02
-
-
 0,89
 21,66
 16,92
 5,48
 37,33
 58,26
 943,09

 9,66

 0,92

 3,36

 12,00

-

 25,93

 81,50
 307,53
 83,50
 539,57
 191,40
 239,60
 38,60
 146,86
 252,00
 39,51
 46,75
 620,32
 18,64
 58,56
 513,87
 34,00
 50,64
 349,37
 49,95
 35,88
 249,45
 266,94
 156,01
 145,17
 14,20
 335,64
 467,22
 81,13
 62,49
 521,28
 76,30
 358,80
 572,00
 284,84
 17,60
 261,83
 17,40
 185,69
 212,00
-
 55,69
 462,16
 73,05
 386,48
 448,23
 58,26
9 467,90

 75,78

 41,02
 11,18

 21,00
 12,50

 44,00
 7,70

 10,90

 11,80
 9,00
 22,00

 15,12

 30,00
 51,00
 508,77

*Total Africa

8 498,88

 35,82

 6,82
 1,80
 5,48
 7,33
 7,26
 349,75

 14,84

 48,75

131 

 
 
 
Table 3.3.3 (continued)
Situation by instrument and country (EUR million)

10th EDF 

Decisions cumulative 2011

Antigua & Barbuda
Bahamas
Barbados
Belize
Dominica
Dominican Republic
Grenada
Guyana
Haiti
Jamaica
Saint Kitts & Nevis
Saint Lucia
Saint Vincent & the Grenadines
Suriname
Trinidad & Tobago

* Total Caribbean

Cook Islands
East Timor
Kiribati
Marshall Islands
Micronesia
Nauru
Niue
Palau
Papua New Guinea
Solomon Islands
Tonga
Tuvalu
Vanuatu
Western Samoa

* Total Pacific

Caribbean Region
Central Africa Region 
Eastern, Southern Africa and the Indian Ocean 
Intra ACP Allocations
Multiregional PALOP
Pacific Region
Southern Africa Region 
West Africa Region

 1,46
 11,80
 0,57
 117,90
 1,00
 5,00
 263,83
 89,50
 4,50
 10,19
7,80
 19,80
 18,34
 555,09
 1,05
 54,00
 8,41
 5,00
 8,10
 2,50
 2,55
 2,72
 27,68
 9,96
 0,90
 5,00
 8,78
 19,25
 155,90
 130,84
 129,72
 198,09
2 150,22
 7,10
 53,90
 28,00
 31,30

A Envelope

Compensation 
export earnings

Emergency aid

Heavily 
indebted poor 
countries

Other chocs with 
budgetary 
impact

 3,40

 9,00

Cotonou

B Envelope

 5,27
 15,33

 1,80

0,45

 31,85

-

-

 76,18
 25,90

 1,03

 103,11
 0,03

 1,00

 0,65

 5,71
 1,50
 1,40
 4,00
 14,29

-

-

-

-

 8,79

 56,00

 64,79
 0,30

 0,50

 17,68

 5,50
 23,97

Total B 
Envelope

Implementatio
n costs

Cofinancing

TOTAL 
STATE

 9,00
-
-
-
 5,27
 15,33
 8,79
-
 132,18
 25,90
 1,80
 1,03
0,45
-
-
 199,75
 0,32
-
 1,00
 0,50
-
-
-
-
 0,65
 17,68
 5,71
 1,50
 1,40
 9,50
 38,26

 12,40
-
 1,46
 11,80
 5,84
 133,23
 9,79
 5,00
 434,51
 115,40
 6,30
 11,22
8,25
 19,80
 18,34
 793,34
 1,37
 54,00
 9,41
 5,50
 8,10
 2,50
 2,55
 2,72
 28,33
 27,63
 6,61
 6,50
 10,18
 28,75
 194,15
 130,84
 129,72
 198,09
2 162,38
 7,10
 53,90
 28,00
 31,30

 38,50

-

 38,50

-

-

 12,15

-

-

-

 12,15

2 741,33

* Total regional cooperation ACP

2 729,17

Administrative and financial expenditure

* Total ACP

11 939,04

 67,67

 467,15

 48,75

 597,53

Mayotte
New Caledonia
French Polynesia
Saint Pierre & Miquelon
French Southern Territories
Wallis & Futuna

Aruba
Netherlands Antilles

Anguilla
British Antarctica

* Total French OCT

 19,81

 20,74

 40,55
 8,80

* Total Dutch OCT

 8,80

British Indian Ocean Territories

Cayman Islands
Falkland Islands
Montserrat
Pitcairn Isslands
Saint Helena
Turks & Caicos Islands
British Virgin Islands

 16,63

* Total British OCTs

 16,63

OCT regional cooperation, FR

OCT regional cooperation, NL

OCT regional cooperation, UK

* Total regional cooperation OCT

All OCT countries

 2,00

 1,08
 3,08

-

 4,30

 4,30

-

-

-

-

-

-

-

-

-

1 181,10
-
-
 2,00
-
-
 1,08
 3,08

-
-
-

-

-
-
-
-
-
 4,30
-
 4,30

* Total OCT
* Total ACP+OCT

 65,98
12 005,02

-
 67,67

 7,38
 474,53

-
 48,75

-
 597,53

 7,38
1 188,47

132 

458,25
 458,25

1,75
 78,33

-

-

-

-

-

-

459,99
13 656,72
-
 19,81
 2,00
 20,74
-
 1,08
 43,63
 8,80
-
 8,80
-
-

-

-
-
-
-
 16,63
 4,30
-
 20,93

 4,00

 4,00
 462,25

 4,00

-
 78,33

 77,36
13 734,07

 
 
 
Table 3.3.4.
Situation by instrument and country (EUR million)

10th EDF 

Decisions annual 2011

A Envelope

Compensation 
export earnings

Emergency aid

Heavily 
indebted poor 
countries

Other chocs 
with budgetary 
impact

Total B 
Envelope

Implementat
ion costs

Cofinancing

TOTAL STATE

Cotonou

B Envelope

Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville) 
Democratic Republic of Congo
Djibouti
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea Bissau
Guinea (Conakry)
Ivory Coast
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome & Principe
Senegal
Seychelles
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe

 25,00
 63,00
 8,00
 23,50
 62,88
 4,50
-
 12,70
 87,00
 2,10
 20,20
 179,70
 12,00
-
 63,00
 12,00
 15,00
 14,35

 125,00
 23,34
 57,65
 1,89
 6,00
( 6,75)
 11,50
 66,00
 11,50
 32,00
 3,50
 102,00
 478,00
( 8,75)

 31,00

 16,50
 95,00

 26,50
 35,00
 16,00

 4,00

( 0,74)

 3,00
 1,00
 0,90

 9,98
 0,60

 15,00

 20,60

 12,20

( 0,00)

 0,50

 6,82
 1,80

 3,37

* Total Africa

1 731,80

 3,37

 72,39

( 0,74)

 34,00
 34,00

133 

-
-
-
 3,00
 1,00
 0,90
-
-
-
-
-
 9,98
 0,60
-
 15,00
-
-
-
-
 20,60
( 0,74)
 12,20
-
-
-
-
 3,37
-
-
-
-
( 0,00)
-
-
 0,50
-
-
-
-
-
-
 6,82
 1,80
-
-
 34,00
 109,02

 25,00
 63,00
 8,00
 26,50
 64,79
 5,40
-
 12,70
 87,00
 2,10
 20,20
 189,68
 12,60
-
 78,00
 12,00
 15,00
 14,35
-
 20,60
 124,26
 35,54
 61,01
 1,89
 6,00
( 6,75)
 14,87
 66,00
 11,50
 32,00
 3,50
 102,00
 478,00
( 8,75)
 0,50
 31,00
-
 16,50
 95,00
-
 26,50
 41,82
 17,80
-
 4,00
 34,00
1 845,10

 0,92

 3,36

-

 4,28

 
 
 
A Envelope

Compensation 
export earnings

Emergency aid

Heavily 
indebted poor 
countries

Other chocs 
with budgetary 
impact

Total B 
Envelope

Implementat
ion costs

Cofinancing

TOTAL STATE

Cotonou

B Envelope

Table 3.3.4 (continued)
Situation by instrument and country (EUR million)

10th EDF 

Decisions annual 2011

Antigua & Barbuda
Bahamas
Belize
Dominica
Dominican Republic
Grenada
Guyana
Haiti
Jamaica
Saint Kitts & Nevis
Saint Lucia
Saint Vincent & the Grenadines
Trinidad & Tobago

* Total Caribbean

Cook Islands
Fiji
East Timor
Kiribati
Marshall Islands
Nauru
Niue
Papua New Guinea
Solomon Islands
Tonga
Tuvalu
Vanuatu
Western Samoa

* Total Pacific

Caribbean Region
Central Africa Region 
Eastern, Southern Africa and the Indian Ocean 
Intra ACP Allocations
Multiregional PALOP
Pacific Region
Southern Africa Region 
West Africa Region
* Total regional cooperation ACP
Administrative and financial expenditure

 16,70

 7,33
 14,75

 8,97
 0,78
 1,00
 49,53
 0,60

 10,00

-
-
 0,51

-

 1,88

 12,99
 99,54
 70,00
 18,30
 590,57

 23,00
 7,00
 808,40

-
-
-
-
-
-
-
 60,00
 7,00
-
 1,03
-
-
 68,03
-
-
-
-
 0,50
-
-
-
 2,48
-
-
-
 2,59
 5,56

 0,50

 2,48

 2,98

 60,00
 7,00

 1,03

-

 68,03

-

-

-

-

 2,59
 2,59

-

-

-

-

-

* Total ACP

2 602,73

 3,37

 143,01

( 0,74)

 36,98

 182,61

Mayotte
New Caledonia
French Polynesia
Saint Pierre & Miquelon
French Southern Territories
Wallis & Futuna

Aruba
Netherlands Antilles

* Total French OCT

 19,81

 20,74

 40,55
 8,80

* Total Dutch OCT

 8,80

 2,00

 1,08
 3,08

Anguilla
British Antarctica
British Indian Ocean Territories
Cayman Islands
Falkland Islands
Montserrat
Pitcairn Isslands
Saint Helena
Turks & Caicos Islands
British Virgin Islands

 16,63

* Total British OCT

 16,63

-

-

-

OCT regional cooperation, FR

OCT regional cooperation, NL

OCT regional cooperation, UK

All OCT countries

* Total regional cooperation OCT

-
-
 2,00
-
-
 1,08
 3,08

-

-

* Total OCT
* Total ACP + OCT

 65,98
2 668,71

-
 3,37

 3,08
 146,08

-
( 0,74)

-
 36,98

 3,08
 185,69

134 

-
-
-
-
 16,70
-
-
 67,33
 21,75
-
 10,00
 0,78
 1,00
 117,56
 0,60
-
 10,00
-
 0,50
-
-
 0,51
 2,48
-
-
 1,88
 2,59
 18,55
 99,54
 70,00
 18,30
 602,08
-
-
 23,00
 7,00
 819,91
 245,34
3 046,47
-
 19,81
 2,00
 20,74
-
 1,08

 43,63
 8,80
-
 8,80
-
-
-
-
-
-
-
 16,63
-
-
 16,63

-

-

-

-

-

 11,51

-
 244,66
 244,66

 11,51
 0,68
 16,46

-

-

2,00
 2,00
 246,66

-
 16,46

2,00
 71,06
3 117,52

 
 
 
Table 3.3.5. 
Situation by instrument and country (EUR million)

10th EDF 

Cotonou
B Envelope

Assigned funds cumulative 2011

A Envelope

Compensation 
export earnings

Emergency aid

Heavily indebted 
poor countries

Other chocs with 
budgetary impact

Total B 
Envelope

Implementatio
n costs

Cofinancing TOTAL STATE

Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde

Central African Republic

Chad
Comoros
Congo (Brazzaville) 
Democratic Republic of Congo
Djibouti
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea Bissau
Guinea (Conakry)
Ivory Coast
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome & Principe
Senegal
Seychelles
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe

 24,60
 174,28
 63,28
 382,32
 76,89
 148,96
 27,94

 31,49

 76,41
 7,47
 10,89
 199,40
 4,08
 6,78
 315,25
 1,30
 28,98
 278,58
 24,13

 57,76
 28,51
 32,19
 104,67
 0,23
 191,55
 368,34
 1,81
 36,16
 456,55
 66,05
 200,64
 28,20
 254,74
 3,18
 179,34
 8,32
 81,61
 111,75

 18,61
 394,14
 38,26
 336,07
 348,12

 9,42

 0,15

 3,37

 0,59

 0,17

* Total Africa

5 229,83

 13,70

 1,39

 17,85
 10,44
 1,62

 2,80

 8,81

 6,22
 30,82
 1,50
 4,86
 42,98

 2,64

 3,77
 11,97

 30,44

 6,88
 7,16
 10,39
 6,99
 2,60

 33,80
 2,00
 9,44
 0,79
 5,84

 13,02

 1,70
 5,33
 6,91
 7,06
 298,03

135 

 44,71
 10,50
 14,00
 34,97

 9,00

 25,21

 7,27

 60,29

 41,02
 11,18

 21,00
 12,50

 44,00
 7,70

 10,90

 11,80
 8,58
 22,00

 14,78

 30,00
 35,43
 476,84

-
 46,10
 10,50
 41,27
 45,41
 1,62
 9,00

 28,01

 8,81
 9,60
 6,22
 91,11
 1,50
 4,86
 42,98
-
 2,64
 41,02
 14,95
 11,97
 12,29
 30,44
 21,00
 26,72
 7,16
 54,39
 18,06
 2,60
 11,49
 12,11
-
 33,80
 2,00
 9,44
 0,79
 17,64
 8,58
 35,02
-
-
 0,17
 14,84
 16,48
 5,33
 36,91
 42,48
 837,32

 2,33

 12,14

 7,34

 12,11

 14,84

 48,75

 3,85

 12,00

-

 15,85

 24,60
 224,23
 73,78
 423,59
 122,30
 150,58
 36,94

 59,50

 85,22
 17,06
 17,12
 290,51
 5,58
 11,64
 358,23
 1,30
 31,62
 319,60
 39,08
 11,97
 70,04
 58,96
 53,19
 131,39
 7,39
 245,94
 386,40
 4,41
 47,65
 480,66
 66,05
 234,44
 30,20
 264,18
 3,97
 196,98
 16,90
 116,63
 111,75
-
 18,78
 408,98
 54,74
 341,40
 385,03
 42,48
6 083,00

 
 
 
Table 3.3.5 (continued)
Situation by instrument and country (EUR million)

10th EDF 

Cotonou
B Envelope

Assigned funds cumulative 2011

A Envelope

Compensation 
export earnings

Emergency aid

Heavily indebted 
poor countries

Other chocs with 
budgetary impact

Total B 
Envelope

Implementatio
n costs

Cofinancing

TOTAL STATE

Antigua & Barbuda
Bahamas
Barbados
Belize
Dominica
Dominican Republic
Grenada
Guyana
Haiti
Jamaica
Saint Kitts & Nevis
Saint Lucia

Saint Vincent & the Grenadines

* Total Caribbean

Suriname
Trinidad & Tobago

Cook Islands
East Timor
Kiribati
Marshall Islands
Micronesia
Nauru
Niue
Palau
Papua New Guinea
Solomon Islands
Tonga
Tuvalu
Vanuatu
Western Samoa

Caribbean Region
Central Africa Region 

Eastern, Southern Africa and the Indian Ocean 

* Total Pacific

Intra ACP Allocations

Multiregional PALOP
Pacific Region
Southern Africa Region
West Africa Region

* Total regional cooperation ACP

Administrative and financial expenditure

 3,27

 0,93
 3,28
 0,55
 99,35
 0,94
 2,34
 95,02
 73,92
 0,41
 0,86

 0,69

 18,43
 15,60
 315,60
 0,83
 34,23
 4,43
 4,44
 7,55
 0,43
 2,14
 2,50
 4,72
 4,70
 0,44
 3,26
 2,89
 16,78
 89,34
 29,02
 24,82

 118,64

1 437,58

 6,66
 50,72
 4,12
 10,82

1 682,38

 9,00

 5,27
 15,33

 20,01
 18,90

 1,03

 29,60

 39,94

 1,00

 0,63

 5,65
 1,50

 4,00
 12,78

-

 9,00
-
-
-
 5,27
 15,33
 8,79
-
 73,01
 18,90
-
 1,03

-

-
-
 131,33
 0,22
-
 1,00
-
-
-
-
-
 0,63
 15,02
 5,65
 1,50
-
 9,50
 33,51

 8,79

 53,00

 61,79
 0,22

 15,02

 5,50
 20,74

-

-

* Total ACP

7 317,15

 43,30

 350,75

 48,75

 559,36

1 002,16

Mayotte
New Caledonia
French Polynesia
Saint Pierre & Miquelon
French Southern Territories
Wallis & Futuna

 0,02

-

 0,02

-

-

 12,27
-
 0,93
 3,28
 5,82
 114,68
 9,73
 2,34
 168,04
 92,82
 0,41
 1,89

 0,69

 18,43
 15,60
 446,94
 1,05
 34,23
 5,43
 4,44
 7,55
 0,43
 2,14
 2,50
 5,35
 19,72
 6,08
 4,76
 2,89
 26,28
 122,85
 29,02
 24,82

 118,64

 12,05

1 449,63

 294,39

 294,39

 12,05

 27,91

 6,66
 50,72
 4,12
 10,82

1 694,43

 294,39

8 641,61

Aruba
Netherlands Antilles

* Total French OCT

* Total Dutch OCT

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Anguilla
British Antarctica
British Indian Ocean Territories
Cayman Islands
Falkland Islands
Montserrat
Pitcairn Isslands
Saint Helena
Turks & Caicos Islands
British Virgin Islands

* Total British OCTs

OCT regional cooperation, FR

OCT regional cooperation, NL

OCT regional cooperation, UK

All OCT countries

* Total regional cooperation OCT

-

-

-

-

* Total OCT
* Total ACP + OCT

-
7 317,15

-
 43,30

 4,17

 4,17

-

 4,17
 354,91

-

-

-

-

-
 48,75

-
 559,36

-
-
-
-
-
-
-
-
 4,17
-
 4,17

-

 4,17
1 006,32

-

-
2,14
 2,14
 296,53

-

-

-
 27,91

 4,17

 4,17

-
2,14
 6,31
8 647,92

136 

 
 
 
Table 3.3.6.
 Situation by instrument and country (EUR million)

10th EDF 

Cotonou

B Envelope

Assigned funds annual 2011

A Envelope

Compensation 
export 
earnings

Emergency aid

Heavily 
indebted poor 
countries

Other chocs 
with budgetary 
impact

Total B 
Envelope

Implementati
on costs

Cofinancing

TOTAL STATE

Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville) 
Democratic Republic of Congo
Djibouti
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea Bissau
Guinea (Conakry)
Ivory Coast
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome & Principe
Senegal
Seychelles
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe
* Total Africa

-
 0,93
-
 2,83
 1,16
 1,27
-
 1,42
 2,35
-
 0,23
 31,03
 1,50
-
 12,75
-
-
-
-
 4,68
 0,15
 12,19
-
 3,94
 2,23
-
 8,01
-
-
-
-
( 0,00)
-
-
 0,33
 12,30
 0,58
 6,60
-
-
 0,09
-
 1,74
-
-
 20,78
 129,09

 24,78

 11,80
 0,58

 0,04

 20,86
 58,06

-

 2,37

-

 2,37

 3,22
 21,35
 0,53
 6,21
 12,72
 58,96
 1,62
 11,91
 51,14
 5,33
 2,38
 150,01
 2,54
 4,27
 29,25
 1,04
 25,06
 96,57
 2,69
 4,68
 10,75
 30,15
 5,46
 20,41
 2,46
 44,08
 41,92
 1,81
 2,62
 24,23
 60,03
 155,78
 27,67
 164,70
 1,38
 46,18
 0,72
 22,46
 19,40
-
 15,43
 9,36
 12,63
 34,96
 71,91
 20,78
1 338,75

 3,22
 18,05
 0,53
 3,37
 11,55
 57,69
 1,62
 10,49
 48,79
 5,33
 2,15
 118,98
 1,04
 4,27
 16,50
 1,04
 25,06
 96,57
 2,69

 10,60
 17,96
 5,46
 16,47
 0,23
 44,08
 33,91
 1,81
 2,62
 24,23
 60,03
 155,78
 27,67
 164,70
 1,05
 33,89
 0,14
 15,86
 19,40

 15,34
 9,36
 10,88
 34,96
 71,91

 0,15

 3,37

 0,09

1 207,29

 3,61

 0,93

 2,83
 1,16
 1,27

 1,42
 2,35

 0,23
 6,25
 1,50
-
 12,75

 4,68

 12,19

 3,94
 2,23
-
 4,64
-

( 0,00)

-
 0,33
 0,50

 6,60

 1,70
-
-
( 0,08)
 67,42

137 

 
 
 
Table 3.3.6 (continued)
 Situation by instrument and country (EUR million)

10th EDF 

Cotonou

B Envelope

Assigned funds annual 2011

A Envelope

Compensation 
export 
earnings

Emergency aid

Heavily 
indebted poor 
countries

Other chocs 
with budgetary 
impact

Total B 
Envelope

Implementati
on costs

Cofinancing

TOTAL STATE

Antigua & Barbuda
Bahamas
Barbados
Belize
Dominica
Dominican Republic
Grenada
Guyana
Haiti
Jamaica
Saint Kitts & Nevis
Saint Lucia
Saint Vincent & the Grenadines
Suriname
Trinidad & Tobago

* Total Caribbean

Cook Islands
Fiji
East Timor
Kiribati
Marshall Islands
Micronesia
Nauru
Niue
Palau
Papua New Guinea
Solomon Islands
Tonga
Tuvalu
Vanuatu
Western Samoa

Caribbean Region
Central Africa Region 

Eastern, Southern Africa and the Indian Ocean 

* Total Pacific

Intra ACP Allocations
Multiregional PALOP
Pacific Region
Southern Africa Region
West Africa Region

Administrative and financial expenditure

* Total regional cooperation ACP

 3,10

 0,23
 0,39
-
 33,30
 0,22
 0,60
 41,51
 1,66
 0,06
 0,05
0,59
 0,63
 15,26
 97,59
 0,58

 31,13
 3,67
 0,07
 0,31
 0,05
 0,39
 0,09
 0,55
( 0,69)
 0,26
 2,84
 1,30
 1,32
 41,86
 28,67
 23,48

 56,23

 732,17
 0,42
 29,95
 4,12
 9,55
884,59

 4,92

 1,03

-

 5,95

-

( 0,02)

 5,44
 1,50

 2,59
 9,50

-

-

-

-
-
-
-
-
-
-
-
 27,92
-
-
 1,03
-
-
-
 28,95
 0,22
-
-
-
-
-
-
-
-
( 0,02)
 0,01
 5,44
 1,50
-
 8,09
 15,23

 23,00

 23,00
 0,22

 0,01

 5,50
 5,73

-

-

-

-

 11,40

-

-

 86,79

 173,27

-
90,78
 90,78

11,40

 13,77

-

-

-

-

-

-

-

* Total ACP

2 231,33

 3,61

 82,87

Mayotte
New Caledonia
French Polynesia
Saint Pierre & Miquelon
French Southern Territories
Wallis & Futuna

Aruba
Netherlands Antilles

* Total French OCT

* Total Dutch OCT

-

-

-

-

-

-

-

-

Anguilla
British Antarctica
British Indian Ocean Territories
Cayman Islands
Falkland Islands
Montserrat
Pitcairn Isslands
Saint Helena
Turks & Caicos Islands
British Virgin Islands

* Total British OCTs

OCT regional cooperation, FR
OCT regional cooperation, NL
OCT regional cooperation, UK

All OCT countries

* Total regional cooperation OCT

* Total OCT

-

-

-

-

-

-

* Total ACP + OCT

2 231,33

 3,61

 4,17

 4,17

-

 4,17

 87,03

138 

-

-

-

-

-

 86,79

-

-
-
-
-
-
-
-
-
-

-

 4,17

 4,17

-

 4,17

 177,43

-

-

-

-

-

-
0,44
 0,44

-

-

-

 91,22

 13,77

2 513,75

 3,10
-
 0,23
 0,39
-
 33,30
 0,22
 0,60
 69,43
 1,66
 0,06
 1,08
0,59
 0,63
 15,26
 126,54
 0,80
-
 31,13
 3,67
 0,07
 0,31
 0,05
 0,39
 0,09
 0,53
( 0,68)
 5,69
 4,34
 1,30
 9,40
 57,09
 28,67
 23,48

 56,23

 743,58
 0,42
 29,95
 4,12
 9,55
895,99
90,78
2 509,15

-

-
-
-
-
-
-
-
-
-

-

 4,17

 4,17

-
0,44
 4,61

 
 
 
Table 3.3.7 
Situation by instrument and country (EUR million)

10th EDF 

Cotonou
B Envelope

Payments cumulative 2011

A Envelope

Compensation 
export earnings

Emergency aid

Heavily indebted 
poor countries

Other chocs with 
budgetary 
impact

Total B 
Envelope

Implementation 
costs

Cofinancing

TOTAL 
STATE

 42,70
 10,50

 34,97

 9,00
 25,21

 7,27

 52,93

 41,02
 11,18

 21,00
 12,50

 44,00
 7,70

 10,90

 8,47
 22,00

 13,89

 30,00
 25,10
 430,35

-
 43,93
 10,50
 10,99
 41,73
 0,98
 9,00
27,45
 6,08
 7,27
 5,54
82,50
 1,20
 4,86
 39,82
-
 2,11
 41,02
 14,95
 6,70
 12,26
 14,73
 21,00
 23,98
 3,96
 54,19
 14,38
 1,49
 11,49
 12,11
-
 32,49
 1,60
 9,44
 0,59
 2,32
 8,47
 33,70
-
-
 0,17
 14,84
 14,81
 5,10
 35,82
 29,82
 715,41

 12,14

 7,34

 12,11

 14,84

 46,43

 0,35

-

 0,35

 8,65
 135,31
 37,67
 219,75
 103,72
 48,82
 34,59
45,89
 38,78
 9,64
 10,12
190,62
 4,81
 6,94
 262,19
 0,89
 18,06
 138,90
 25,84
 6,70
 49,84
 27,45
 50,90
 80,91
 3,98
 153,02
 155,83
 2,01
 46,11
 216,19
 12,12
 88,86
 19,31
 145,80
 2,83
 110,45
 13,79
 89,98
 64,57
-
 10,22
 207,21
 49,76
 134,65
 162,66
 29,82
3 276,16

Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville) 
Democratic Republic of Congo
Djibouti
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea Bissau
Guinea (Conakry)
Ivory Coast
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome & Principe
Senegal
Seychelles
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe

 8,65
 91,04
 27,17
 208,76
 61,99
 47,83
 25,59
18,44
 32,69
 2,37
 4,58
108,12
 3,61
 2,08
 222,37
 0,89
 15,94
 97,88
 10,89

 37,59
 12,72
 29,90
 56,94
 0,02
 98,83
 141,45
 0,51
 34,62
 204,08
 12,12
 56,36
 17,71
 136,36
 2,24
 108,13
 5,32
 56,28
 64,57

 10,05
 192,37
 34,94
 129,55
 126,83

 0,12

 3,37

 0,59

 0,17

* Total Africa

2 560,41

 4,25

 1,23

 10,99
 6,76
 0,98

2,24
 6,08

 5,54
29,57
 1,20
 4,86
 39,82

 2,11

 3,77
 6,70

 14,73

 4,14
 3,96
 10,19
 3,31
 1,49

 32,49
 1,60
 9,44
 0,59
 2,32

 11,70

 0,93
 5,10
 5,82
 4,72
 234,39

139 

 
 
 
Table 3.3.7 (continued)
Situation by instrument and country (EUR million)

10th EDF 

Cotonou
B Envelope

Payments cumulative 2011

A Envelope

Compensation 
export earnings

Emergency aid

Heavily indebted 
poor countries

Other chocs with 
budgetary 
impact

Total B 
Envelope

Implementation 
costs

Cofinancing

TOTAL 
STATE

Antigua & Barbuda
Bahamas
Barbados
Belize
Dominica
Dominican Republic
Grenada
Guyana
Haiti
Jamaica
Saint Kitts & Nevis
Saint Lucia
Saint Vincent & the Grenadines
Suriname
Trinidad & Tobago

* Total Caribbean

Cook Islands
East Timor
Kiribati
Marshall Islands
Micronesia
Nauru
Niue
Palau
Papua New Guinea
Solomon Islands
Tonga
Tuvalu
Vanuatu
W estern Samoa

* Total Pacific

Caribbean Region
Central Africa Region 
Eastern, Southern Africa and the Indian Ocean 
Intra ACP Allocations
Multiregional PALOP
Pacific Region
Southern Africa Region
W est Africa Region
* Total regional cooperation ACP
Administrative and financial expenditure

 2,49

 9,00

 0,45
 0,78
 0,37
 44,29
 0,73
 0,24
 81,27
 48,20
 0,33
 0,78
 0,08
 3,37
 3,93
 187,30
 0,26
 6,85
 2,06
 0,77
 1,55
 0,22
 1,24
 0,43
 2,55
 2,36
 0,23
 1,98
 1,42
 8,85
 30,77
 8,91
 6,64
 56,91
 850,44
 4,31
 13,27
 0,84
 0,71
942,03

 5,27
 15,33

 13,64
 18,90

 0,82

 29,60

 33,36

 0,58

 5,65
 1,50

 4,00
 11,73

-

-

-

 9,00
-
-
-
 5,27
 15,33
 8,79
-
 48,64
 18,90
-
 0,82
-
-
-
 106,75
 0,19
-
-
-
-
-
-
-
 0,58
 15,01
 5,65
 1,50
-
 9,50
 32,42

 8,79

 35,00

 43,79
 0,19

 15,01

 5,50
 20,69

-

-

-

-

-

* Total ACP

3 720,51

 33,85

 279,47

 46,43

 494,83

 854,58

Mayotte
New Caledonia
French Polynesia
Saint Pierre & Miquelon
French Southern Territories
W allis & Futuna

Aruba
Netherlands Antilles

* Total French OCT

* Total Dutch OCT

Anguilla
British Antarctica
British Indian Ocean Territories
Cayman Islands
Falkland Islands
Montserrat
Pitcairn Isslands
Saint Helena
Turks & Caicos Islands
British Virgin Islands

* Total British OCTs

OCT regional cooperation, FR

OCT regional cooperation, NL
OCT regional cooperation, UK

All OCT countries

* Total regional cooperation OCT

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

* Total OCT
* Total ACP + OCT

-
3 720,51

-
 33,85

-
 279,47

-
 46,43

-
 494,83

-
 854,58

 11,49
-
 0,45
 0,78
 5,64
 59,62
 9,52
 0,24
 129,92
 67,10
 0,33
 1,60
 0,08
 3,37
 3,93
 294,07
 0,44
 6,85
 2,06
 0,77
 1,55
 0,22
 1,24
 0,43
 3,14
 17,36
 5,87
 3,48
 1,42
 18,35
 63,20
 8,91
 6,64
 56,91
 852,73
 4,31
 13,27
 0,84
 0,71
944,32
272,69
4 850,44

-

-

-

-
 1,39
 1,39
4 851,83

 0,02

-

 0,02

-

-

 2,30

2,30

 2,66

-

-

-

-

-
 2,66

-
272,69
 272,69

-

-

-

-
 1,39
 1,39
 274,08

140 

 
 
 
Table 3.3.8. 
Situation by instrument and country (EUR million)

10th EDF 

Payments annual 2011

A Envelope

Compensation 
export 
earnings

Emergency aid

B Envelope

Heavily 
indebted poor 
countries

Other chocs with 
budgetary impact

Total B 
Envelope

Implementation 
costs

Cofinancing

TOTAL

Cotonou

 2,15

 17,42

 12,50

 0,47

 1,89

 16,34
 50,78

-
 3,01
-
 2,55
 2,78
 0,98
-
 1,14
 1,29
-
 1,17
 22,81
 1,20
 0,10
 29,82
-
-
-
-
 1,48
 12,26
 3,51
-
 15,17
 1,55
 0,10
 4,70
 0,43
 0,59
-
-
 11,66
-
 1,00
 0,15
 2,04
 0,47
 5,28
-
-
 0,12
-
 2,81
 0,50
 0,06
 18,01
 148,75

 12,14

 12,14

 0,25

-

 0,25

 6,36
 34,10
 12,51
 66,88
 26,33
 32,48
 8,65
 2,24
 22,99
 0,72
 4,21
 94,90
 3,53
 1,58
 94,56
 0,81
 14,72
 48,08
 1,35
 1,48
 20,12
 12,45
 15,21
 29,67
 1,56
 19,18
 77,18
 0,94
 17,60
 64,81
 10,08
 30,72
 17,56
 48,70
 1,48
 66,01
 3,32
 23,02
 25,79
-
 8,17
 69,88
 12,50
 72,75
 45,41
 18,01
1 190,61

Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville) 
Democratic Republic of Congo
Djibouti
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea Bissau
Guinea (Conakry)
Ivory Coast
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome & Principe
Senegal
Seychelles
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe

 6,36
 30,84
 12,51
 64,34
 23,55
 31,50
 8,65
 1,10
 21,70
 0,72
 3,03
 72,09
 2,33
 1,49
 64,74
 0,81
 14,72
 48,08
 1,35

 7,86
 8,94
 15,21
 14,50
 0,02
 19,08
 72,48
 0,51
 17,01
 64,81
 10,08
 19,05
 17,56
 47,70
 1,33
 63,97
 2,85
 17,74
 25,79

 8,05
 69,88
 9,68
 72,26
 45,35

 0,12

 3,37

 0,59

 0,12

* Total Africa

1 041,61

 4,20

 0,86

 2,55
 2,78
 0,98

 1,14
 1,29

 1,17
 5,39
 1,20
 0,10
 29,82

 1,48

 3,51

 2,67
 1,55
 0,10
 1,33
 0,43

 11,66

 1,00
 0,15
 2,04

 5,28

 0,93
 0,50
 0,06
 1,67
 81,63

141 

 
 
 
A Envelope

Compensation 
export 
earnings

Emergency aid

B Envelope

Heavily 
indebted poor 
countries

Other chocs with 
budgetary impact

Total B 
Envelope

Implementation 
costs

Cofinancing

TOTAL

Cotonou

Table 3.3.8 (continued)
Situation by instrument and country (EUR million)

10th EDF 

Payments annual 2011

Antigua & Barbuda
Bahamas
Barbados
Belize
Dominica
Dominican Republic
Grenada
Guyana
Haiti
Jamaica
Saint Kitts & Nevis
Saint Lucia
Saint Vincent & the Grenadines
Suriname
Trinidad & Tobago

* Total Caribbean

Cook Islands
Fiji
East Timor
Kiribati
Marshall Islands
Micronesia
Nauru
Niue
Palau
Papua New Guinea
Solomon Islands
Tonga
Tuvalu
Vanuatu
Western Samoa

Caribbean Region
Central Africa Region 

* Total Pacific

Eastern, Southern Africa and the Indian Ocean 

Intra ACP Allocations
Multiregional PALOP
Pacific Region
Southern Africa Region
West Africa Region

Administrative and financial expenditure

* Total regional cooperation ACP

 2,40

 0,03
 0,72
 0,04
 15,79
 0,25
 0,12
 45,54
 1,82
 0,05
 0,30
 0,00
 1,69
 3,73
72,46
 0,11

 5,76
 1,62

 0,26
 0,03
 0,65

 0,99
 0,85
 0,23
 1,66
 0,62
 4,12
 16,90
 8,75
 6,53

 51,08

 396,23
 3,05
 11,36
 0,84
 0,54
478,37

 6,06

 0,82

-

6,88

-

 0,05

 5,50
 1,50

 4,00
 11,05

-

-

-

-

-

-
-
-
-
-
-
-
-
 11,06
-
-
 0,82
-
-
-
11,88
 0,19
-
-
-
-
-
-
-
-
 0,05
 0,01
 5,50
 1,50
-
 9,50
 16,75

 5,00

 5,00
 0,19

 0,01

 5,50
 5,69

-

-

* Total ACP

1 609,35

 4,20

 99,57

 12,14

 61,47

 177,38

Mayotte
New Caledonia
French Polynesia
Saint Pierre & Miquelon
French Southern Territories
Wallis & Futuna

Aruba
Netherlands Antilles

Anguilla
British Antarctica

* Total French OCT

* Total Dutch OCT

British Indian Ocean Territories

Cayman Islands
Falkland Islands
Montserrat
Pitcairn Isslands
Saint Helena
Turks & Caicos Islands
British Virgin Islands

* Total British OCTs

OCT regional cooperation, FR

OCT regional cooperation, NL

OCT regional cooperation, UK

All OCT countries

* Total regional cooperation OCT

* Total OCT

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

* Total ACP + OCT

1 609,35

 4,20

 99,57

 12,14

 61,47

 177,38

142 

 0,02

-

0,02

-

-

 2,40
-
 0,03
 0,72
 0,04
 15,79
 0,25
 0,12
 56,61
 1,82
 0,05
 1,12
 0,00
 1,69
 3,73
84,36
 0,30
-
 5,76
 1,62
-
 0,26
 0,03
 0,65
-
 1,05
 0,85
 5,73
 3,16
 0,62
 13,62
 33,65
 8,75
 6,53

 51,08

 1,67

1,67

 1,93

 397,89
 3,05
 11,36
 0,84
 0,54
480,04
89,71
1 878,37

-

-

-

-

-

-

-

-

-
0,71
 0,71

 1,93

1 879,08

-
89,71
 89,71

-

-

-

-
0,71
 0,71

 90,42

 
 
 
Table 3.4.1 

Situation by country (EUR million)

All EDF

Decisions

Assigned funds

Payments

cumulative amounts 2011

Lomé

Cotonou

Total

Lomé

Cotonou

Total

Lomé

Cotonou

Total

Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville) 
Democratic Republic of Congo
Djibouti
Equatorial Guinea
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea Bissau
Guinea (Conakry)
Ivory Coast
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome & Principe
Senegal
Seychelles
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe

123,67
172,00
33,48
287,80
132,86
233,57
56,65
84,79
217,09
16,12
30,36
106,64
27,47
4,42
18,01
367,21
77,41
33,47
218,67
47,23
167,33
159,62
198,97
66,77
24,88
274,37
267,24
323,06
135,05
55,32
409,51
71,97
152,66
124,50
177,94
12,23
239,54
7,23
124,07
50,00
219,43
69,91
477,22
28,43
426,50
420,91
105,21
7.078,77

236,16
620,46
175,07
1.001,01
457,98
414,07
94,08
264,97
474,62
77,44
169,37
1.145,14
59,03
8,99
143,66
1.092,56
104,45
105,18
690,31
150,84
155,09
461,17
581,75
259,69
268,82
477,14
639,01
923,39
274,24
129,67
1.095,68
173,65
780,40
1.041,75
502,49
32,45
558,73
22,58
423,91
405,33
343,46
96,11
865,55
135,24
687,39
830,33
114,75
19.765,14

359,83
792,45
208,55
1.288,81
590,84
647,64
150,73
349,76
691,71
93,56
199,74
1.251,78
86,50
13,42
161,67
1.459,77
181,85
138,64
908,98
198,07
322,41
620,79
780,72
326,46
293,70
751,51
906,25
1.246,44
409,29
184,99
1.505,19
245,62
933,06
1.166,24
680,43
44,67
798,27
29,80
547,98
455,33
562,90
166,02
1.342,77
163,67
1.113,89
1.251,24
219,95
26.843,91

116,20
171,75
33,48
285,58
132,27
233,01
55,57
84,36
214,50
16,12
28,78
102,67
26,68
4,08
18,01
362,60
77,20
32,08
218,67
46,88
153,17
158,17
190,84
65,29
24,86
274,10
264,22
321,26
133,55
55,32
407,87
71,82
151,13
114,45
177,86
12,23
237,72
7,23
120,68
48,77
218,99
62,75
476,76
26,72
424,01
420,56
105,18
6.985,97

173,65
529,40
164,61
879,66
385,49
321,48
88,89
173,97
296,84
53,91
136,27
801,56
44,13
8,50
93,75
932,10
67,75
84,72
634,08
129,14
128,06
276,51
362,58
150,04
250,27
449,19
522,42
836,03
182,92
113,37
1.042,61
159,88
638,11
443,12
480,84
18,13
487,53
21,98
346,18
295,21
202,98
58,20
796,61
113,22
636,85
751,43
98,44
15.862,66

289,85
701,15
198,09
1.165,24
517,76
554,49
144,47
258,33
511,34
70,03
165,05
904,23
70,81
12,58
111,76
1.294,70
144,95
116,80
852,75
176,02
281,23
434,68
553,42
215,33
275,14
723,29
786,63
1.157,29
316,47
168,69
1.450,48
231,70
789,24
557,57
658,70
30,35
725,26
29,21
466,86
343,99
421,97
120,95
1.273,37
139,94
1.060,85
1.171,99
203,62
22.848,63

109,49
171,70
32,67
283,08
129,30
232,14
55,06
84,30
212,12
16,07
27,28
101,37
26,68
3,96
18,01
338,83
77,12
31,92
218,67
46,20
143,05
156,03
187,68
64,78
24,09
274,10
262,14
320,51
133,67
40,72
404,65
71,82
151,12
104,86
177,84
12,23
236,83
7,23
119,45
48,19
231,30
55,44
467,27
25,88
423,52
420,07
105,59
6.886,03

131,93
435,47
126,59
666,74
338,35
207,45
76,35
139,98
226,70
39,92
126,54
674,32
26,62
6,08
80,98
818,79
52,08
64,89
441,04
109,37
111,45
228,34
251,85
131,89
180,65
437,41
402,46
602,45
150,61
109,27
753,81
105,57
480,46
387,25
360,24
15,74
370,78
18,08
299,21
240,50
186,51
42,08
584,83
95,10
421,31
507,98
81,35
12.347,36

241,42
607,17
159,27
949,83
467,66
439,59
131,41
224,28
438,82
55,99
153,82
775,69
53,29
10,04
98,99
1.157,62
129,20
96,80
659,70
155,57
254,50
384,37
439,52
196,67
204,74
711,51
664,61
922,97
284,29
149,99
1.158,46
177,39
631,58
492,11
538,08
27,96
607,61
25,31
418,66
288,69
417,81
97,52
1.052,09
120,98
844,82
928,05
186,94
19.233,39

* Total Africa

143 

 
 
 
Table 3.4.1 

Situation by country (EUR million)

All EDF

Decisions

Assigned funds

Payments

cumulative amounts 2011

Lomé

Cotonou

Total

Lomé

Cotonou

Total

Lomé

Cotonou

Total

Antigua & Barbuda
Bahamas
Barbados
Belize
Dominica
Dominican Republic
Grenada
Guyana
Haiti
Jamaica
Saint Kitts & Nevis
Saint Lucia
Saint Vincent & the Grenadines
Suriname
Trinidad & Tobago

Cook Islands
East Timor
Fiji
Kiribati
Marshall Islands
Micronesia
Nauru
Niue
Palau
Papua New Guinea
Solomon Islands
Tonga
Tuvalu
Vanuatu
Western Samoa

* Total Caribbean

* Total Pacific

Caribbean Region
Central Africa Region
Central Africa Region 
East Africa Region
Eastern, Southern Africa and the Indian Ocean 
Indian Ocean Region
Intra ACP Allocations
Multiregional PALOP
Pacific Region
Regional cooperation ACP
Southern Africa Region
Southern Africa Region
West Africa Region

* Total regional cooperation ACP

Administrative and financial expenditure
All ACP countries

* Total ACP

Anguilla
British Virgin Islands
Cayman Islands
Falkland Islands
Montserrat
Pitcairn Islands
Saint Helena
Turks & Caicos Islands

Aruba
Netherlands Antilles

French Polynesia
Mayotte
New Caledonia
Saint Pierre & Miquelon
Wallis & Futuna

OCT regional projects, FR
OCT regional projects, NL
OCT regional projects, UK
Regional cooperation OCT

* Total British OCT

* Total Dutch OCT

* Total French OCT

All OCT countries

* Total regional cooperation OCT

0,64
2,20
7,18
19,06
38,34
134,83
3,42
60,12
79,05
222,23
6,72
50,00
34,15
20,36
20,38
698,69

19,92
10,21

58,32
91,15
5,50
2,60
15,77
19,10
222,58
61,93
77,19

163,51

11,47
723,53
10,83
32,89
74,93
57,61

231,19
1.445,10
35,83
1.176,80
10.657,76
0,80
0,52

1,60

0,06
3,00
5,97
0,46
5,78
6,25
13,44
2,03
11,22
3,47
1,45
31,61
4,99
1,00
1,64
0,03
7,66

* Total OCT
* Total ACP + OCT

51,48
10.709,24

18,60
6,58
13,14
20,68
20,69
282,25
36,64
64,74
715,11
220,76
11,29
33,93
26,17
66,44
49,78
1.586,80
4,72
72,00
25,62
20,41
10,03
14,20
4,80
5,15
5,32
185,81
49,64
14,22
11,34
33,84
56,07
513,17
273,22
79,06
129,72

531,74

2.162,38
32,77
94,25
3.028,37

165,78
313,42
6.810,70
891,52
168,84
29.736,17
12,24
0,92
7,00
4,55
23,08
2,35
34,57
18,96
103,67
19,80
50,47
70,27
22,93
24,24
50,02
39,68
17,93
154,81

48,53
48,53
4,73
382,00
30.118,17

19,24
8,78
20,32
39,74
59,03
417,08
40,05
124,86
794,16
442,99
18,01
83,93
60,32
86,81
70,16
2.285,49
4,72
72,00
45,55
30,62
10,03
14,20
4,80
5,15
5,32
244,13
140,79
19,72
13,95
49,61
75,17
735,75
335,15
156,26
129,72
163,51
531,74
11,47
2.885,91
43,60
127,14
3.103,30
57,61
165,78
544,61
8.255,79
927,35
1.345,63
40.393,93
13,04
1,44
7,00
4,55
24,68
2,35
34,63
21,96
109,64
20,26
56,25
76,51
36,37
26,27
61,24
43,15
19,39
186,41
4,99
1,00
1,64
48,56
56,19
4,73
433,48
40.827,41

0,61
2,20
6,69
19,06
38,12
134,42
3,40
58,84
78,73
222,16
6,72
49,88
34,11
19,50
20,38
694,83

19,82
10,21

54,92
90,78
5,49
2,60
15,77
19,10
218,69
60,26
76,82

162,27

11,47
697,22
10,40
32,73
59,78
57,20

227,99
1.396,11
35,62
1.171,94
10.503,16
0,80
0,51

1,60

0,06
3,00
5,97
0,46
5,78
6,25
13,44
2,03
11,13
3,47
1,45
31,52
4,92
0,46
0,12
0,03
5,52

49,26
10.552,42

144 

18,13
6,05
12,60
11,47
20,38
261,27
36,32
61,51
444,55
192,18
5,31
23,87
18,57
63,71
46,93
1.222,85
4,39
51,07
24,10
15,97
8,78
13,41
2,71
4,67
5,08
143,33
38,34
13,64
9,59
25,76
53,34
414,18
167,83
71,87
24,82

443,39

1.449,63
28,45
90,48
2.920,97

129,09
274,10
5.600,62
721,21
159,48
23.981,00
12,24
0,91
4,47
4,52
23,05
2,35
17,82
18,16
83,53
10,28
49,55
59,83
19,78
21,95
30,16
18,88
15,99
106,77

47,00
47,00
2,87
299,98
24.280,98

18,74
8,25
19,30
30,52
58,50
395,70
39,71
120,35
523,28
414,35
12,03
73,75
52,67
83,21
67,31
1.917,68
4,39
51,07
43,92
26,18
8,78
13,41
2,71
4,67
5,08
198,25
129,12
19,13
12,19
41,53
72,44
632,87
228,08
148,69
24,82
162,27
443,39
11,47
2.146,85
38,85
123,21
2.980,74
57,20
129,09
502,08
6.996,74
756,83
1.331,42
34.484,16
13,04
1,42
4,47
4,52
24,65
2,35
17,88
21,16
89,49
10,74
55,33
66,07
33,22
23,98
41,29
22,35
17,44
138,28
4,92
0,46
0,12
47,03
52,52
2,87
349,24
34.833,40

0,50
2,20
6,22
17,90
38,11
126,41
3,38
56,39
77,80
208,16
6,72
44,02
34,41
19,49
15,38
657,11

19,82
10,13

53,86
90,75
5,41
2,40
15,77
19,10
217,25
53,95
76,78

158,93

11,47
669,48
10,23
32,73
51,98
57,20

223,58
1.346,32
34,91
1.171,77
10.313,40
0,80
0,51

1,60

0,06
3,00
5,97
0,46
5,78
6,25
13,44
2,03
11,10
3,47
1,45
31,49
4,92
0,46
0,12
0,03
5,52

49,23
10.362,63

16,48
3,99
10,91
8,66
19,90
201,57
33,51
48,10
387,75
154,24
4,75
13,13
11,45
46,72
35,26
996,42
3,70
17,63
22,70
11,86
4,69
6,83
2,21
3,66
2,61
114,20
28,66
12,32
8,06
22,53
45,31
307,00
139,60
59,76
6,64

310,24

852,64
16,39
51,58
2.409,58

93,84
165,28
4.105,55
693,09
153,95
18.603,38
12,16
0,72
4,47
4,52
20,38
0,10
17,82
9,20
69,37
10,26
49,52
59,77
10,78
6,71
27,77
18,88
9,36
73,51

36,69
36,69
2,12
241,47
18.844,84

16,97
6,19
17,14
26,55
58,01
327,98
36,89
104,49
465,55
362,40
11,47
57,15
45,86
66,21
50,64
1.653,53
3,70
17,63
42,53
21,99
4,69
6,83
2,21
3,66
2,61
168,06
119,41
17,73
10,47
38,31
64,41
524,25
193,54
136,54
6,64
158,93
310,24
11,47
1.522,21
26,61
84,31
2.461,57
57,20
93,84
388,86
5.451,97
728,53
1.325,72
28.917,39
12,96
1,23
4,47
4,52
21,98
0,10
17,88
12,20
75,34
10,72
55,30
66,02
24,22
8,74
38,88
22,35
10,82
105,00
4,92
0,46
0,12
36,73
42,22
2,12
290,70
29.208,09

 
 
 
Table 3.4.2
Situation by country (EUR million)

All EDF

Decisions

Assigned funds

Payments

annual amounts 2011

Lomé

Cotonou

Total

Lomé

Cotonou

Total

Lomé

Cotonou

Total

Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo (Brazzaville) 
Democratic Republic of Congo
Djibouti
Equatorial Guinea
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea Bissau
Guinea (Conakry)
Ivory Coast
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
Sao Tome & Principe
Senegal
Seychelles
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe

(0,36)

(0,60)
-
-

-
-
-

(0,17)
(0,30)

-

(5,18)

(0,32)
(0,81)
(0,15)
-
-
(0,58)
(0,71)
-
(0,37)
(2,48)
(0,29)
-

(5,67)
(1,10)
(1,21)
(0,18)
(0,00)

(4,01)

-
-
(0,09)
(0,00)
(2,21)
(0,07)
(0,35)
(10,03)

* Total Africa

(37,26)

25,00
61,36
5,33
26,50
64,79
1,56
(0,31)
12,46
86,58
2,09
19,99
182,62
12,60
-
(32,35)
66,07
12,00
15,00
12,15
(0,03)
19,94
124,27
33,79
60,90
1,66
(0,05)
(8,67)
13,22
66,00
11,50
26,37
2,61
98,92
478,00
(8,84)
0,50
27,37
(0,04)
16,50
95,00
137,00
26,50
39,81
17,76
(8,84)
(0,52)
34,00
1.878,05

24,64
61,36
4,73
26,50
64,79
1,56
(0,31)
12,46
86,58
2,09
19,81
182,32
12,60
-
(32,35)
60,89
12,00
14,68
11,34
(0,19)
19,94
124,27
33,21
60,20
1,66
(0,43)
(11,15)
12,93
66,00
11,50
20,69
1,51
97,71
477,82
(8,84)
0,50
23,36
(0,04)
16,50
95,00
136,91
26,50
37,60
17,69
(9,19)
(10,55)
34,00
1.840,79

(0,89)

(0,60)
(0,10)
(0,13)

(0,35)
(0,18)
(0,18)

(1,02)
(2,44)

(0,01)

(3,53)

(1,46)
0,91
(0,15)
(0,97)
(0,52)
(1,91)
(1,57)
(0,02)
(0,16)
(2,38)
(0,46)
(0,13)

(2,65)
(0,47)
(0,86)
(6,33)
0,01

(3,17)

(1,38)
(0,64)
(0,14)
(0,07)
0,82
(0,51)
(2,32)
(9,08)

(45,05)

1,84
20,22
(1,39)
10,79
21,73
59,19
1,51
14,44
49,92
4,90
1,13
145,20
19,71
(0,14)
(24,35)
28,64
0,97
27,54
95,03
1,57
15,21
10,24
29,63
5,88
19,40
(4,71)
31,93
40,95
44,16
2,58
22,78
58,20
152,15
22,46
164,10
1,29
45,06
0,81
22,67
12,64
(0,49)
16,03
9,80
12,71
32,30
62,33
20,85
1.329,37

0,95
20,22
(1,99)
10,69
21,61
59,19
1,16
14,27
49,74
4,90
0,10
142,76
19,71
(0,15)
(24,35)
25,11
0,97
26,07
95,95
1,41
14,24
9,72
27,72
4,31
19,38
(4,86)
29,55
40,49
44,03
2,58
20,12
57,73
151,29
16,13
164,11
1,29
41,89
0,81
21,28
12,00
(0,64)
15,96
10,62
12,20
29,98
53,25
20,85
1.284,32

0,45

1,10

0,03
(0,06)
0,14

(1,11)
(0,07)

12,84

(0,29)
1,47
(0,15)
0,15
(0,00)
0,00
0,11

(0,00)
0,16
0,06
(0,06)
0,10
0,18
(0,14)
0,24
0,42
0,22

4,99

0,73
(0,23)
-
(0,95)
2,29
0,03
0,39
0,43

23,49

11,35
40,59
13,30
72,18
52,08
40,53
14,07
26,72
35,41
5,26
6,05
120,53
7,01
0,11
21,86
98,10
5,56
26,73
56,08
6,27
20,52
39,21
36,01
39,55
37,13
11,53
36,62
83,23
42,54
17,70
76,56
20,62
60,87
42,52
50,76
2,66
75,21
4,72
38,87
36,99
(0,26)
12,52
85,21
24,61
102,08
49,75
20,25
1.727,78

11,80
40,59
13,30
73,28
52,08
40,53
14,10
26,66
35,54
5,26
4,94
120,46
7,01
0,11
21,86
110,94
5,56
26,44
57,54
6,12
20,67
39,21
36,01
39,67
37,13
11,53
36,78
83,29
42,48
17,80
76,75
20,48
61,11
42,94
50,98
2,66
80,19
4,72
39,60
36,76
(0,26)
11,58
87,51
24,64
102,47
50,18
20,25
1.751,27

145 

 
 
 
Table 3.4.2
Situation by country (EUR million)

All EDF

Decisions

Assigned funds

Payments

annual amounts 2011

Lomé

Cotonou

Total

Lomé

Cotonou

Total

Lomé

Cotonou

Total

(0,01)

-
-
-

(0,42)

(0,10)

* Total Caribbean

(0,53)

Antigua & Barbuda
Bahamas
Barbados
Belize
Dominica
Dominican Republic
Grenada
Guyana
Haiti
Jamaica
Saint Kitts & Nevis
Saint Lucia
Saint Vincent & the Grenadines
Suriname
Trinidad & Tobago

Cook Islands
East Timor
Fiji
Kiribati
Marshall Islands
Micronesia
Nauru
Niue
Palau
Papua New Guinea
Solomon Islands
Tonga
Tuvalu
Vanuatu
Western Samoa

* Total Pacific

Caribbean Region
Central Africa Region
Central Africa Region 
East Africa Region
Eastern, Southern Africa and the Indian Ocean 
Indian Ocean Region
Intra ACP Allocations
Multiregional PALOP
Pacific Region
Regional cooperation ACP
Southern Africa Region
Southern Africa Region 
West Africa Region

* Total regional cooperation ACP

Administrative and financial expenditure
All ACP countries

* Total ACP

Anguilla
British Virgin Islands
Cayman Islands
Montserrat
Saint Helena
Pitcairn Islands
Turks & Caicos Islands

Aruba
Netherlands Antilles

French Polynesia
Mayotte
New Caledonia
Saint Pierre & Miquelon
Wallis & Futuna

OCT regional projects, FR
OCT regional projects, NL
OCT regional projects, UK
Regional cooperation OCT

* Total British OCT

(0,07)

* Total Dutch OCT

* Total French OCT

(0,02)
(0,02)
(0,29)

All OCT countries

* Total regional cooperation OCT

(0,29)

* Total OCT
* Total ACP + OCT

(0,37)
(63,19)

(0,23)

-
(0,11)

(0,34)
(0,63)
-

(1,07)

(1,05)
(5,05)
-
(0,22)
(1,62)
(0,52)

(2,55)
(12,73)
(1,40)
(10,55)
(62,82)

(0,07)

(1,06)
(0,33)
(0,55)
-
-
15,84
(0,68)
(0,03)
67,33
21,66
(1,18)
9,81
0,58
(0,13)
0,66
111,93
0,45
10,00
-
-
0,43
(0,10)
-
-
-
0,51
2,48
(0,08)
(0,32)
1,82
2,59
17,76
96,86
(1,10)
70,00

14,11

602,08
-
(0,06)
(6,78)

17,26
4,72
797,10
239,24
(2,35)
3.041,73

(0,08)

(0,08)
16,63

16,47
8,80
-
8,80
2,00
-
19,81
20,74
1,08
43,63

146 

(0,26)
(0,26)
2,00
70,64
3.112,37

(1,07)
(0,33)
(0,55)
-
-
15,84
(0,68)
(0,03)
67,33
21,24
(1,18)
9,81
0,58
(0,23)
0,66
111,40
0,45
10,00
-
(0,23)
0,43
(0,10)
-
-
-
0,51
2,36
(0,08)
(0,32)
1,82
2,59
17,42
96,22
(1,10)
70,00
(1,07)
14,11
(1,05)
597,03
-
(0,28)
(8,40)
(0,52)
17,26
2,17
784,37
237,83
(12,90)
2.978,92
-
(0,08)
-
(0,15)
16,63
-
-
16,40
8,80
-
8,80
2,00

19,81
20,74
1,06
43,61
(0,29)
-
-
(0,26)
(0,54)
2,00
70,26
3.049,18

(0,00)

(0,27)
(0,02)
(0,50)

(0,27)

-
(0,03)

(1,08)

(0,02)

(0,31)

(0,34)
(0,31)
(0,04)

(0,45)

(0,08)
5,18
(0,00)
(0,14)
(1,81)
(0,47)

(0,58)
1,29
(0,74)
(8,80)
(54,72)

(0,05)

(0,05)

(0,02)

(0,02)

(0,07)
(54,79)

3,09
0,04
0,23
0,23
0,01
32,42
0,22
0,57
70,62
0,99
0,01
1,37
0,51
0,06
15,11
125,46
1,41
34,83
0,19
3,55
0,01
0,01
0,05
0,39
0,09
(1,86)
(0,68)
5,75
4,02
1,19
9,47
58,41
28,39
0,27
23,48

55,66

743,58
3,05
29,93
28,42

1,74
25,33
939,84
89,75
(7,43)
2.535,41

(0,01)
(2,37)
(0,11)

4,17
1,68
(0,07)
0,04
(0,03)
8,38
17,69
0,07
-
0,24
26,38

(0,03)
(0,03)
0,44
28,44
2.563,85

3,09
0,04
0,23
0,23
0,01
32,15
0,20
0,06
70,62
0,72
0,01
1,37
0,51
0,04
15,11
124,38
1,41
34,83
0,19
3,53
0,01
0,01
0,05
0,39
0,09
(2,17)
(0,68)
5,75
4,02
1,19
9,47
58,08
28,08
0,23
23,48
(0,45)
55,66
(0,08)
748,76
3,05
29,79
26,61
(0,47)
1,74
24,74
941,13
89,01
(16,23)
2.480,69
-
(0,01)
(2,37)
(0,16)
-
-
4,17
1,62
(0,07)
0,04
(0,03)
8,38
17,69
0,05
-
0,24
26,36
-
-
-
(0,03)
(0,03)
0,44
28,37
2.509,06

2,33
1,02
0,03
0,85
3,68
23,31
(0,72)
4,99
67,87
6,02
0,81
11,32
3,16
3,42
25,92
154,01
1,07
7,15
1,35
2,58
0,08
0,35
0,08
0,69
0,06
11,89
2,61
6,22
3,06
0,96
15,59
53,74
21,63
7,97
6,53

81,01

397,80
5,73
13,24
183,12

16,19
25,37
758,60
91,75
0,50
2.786,37

0,11
(1,66)
1,60
3,30

0,53
3,89
0,18
0,01
0,19
0,07
4,15
2,39
3,13
5,41
15,15

9,60
9,60
0,71
29,53
2.815,90

2,33
1,02
0,03
0,85
3,68
23,27
(0,72)
6,26
67,73
6,02
0,81
11,32
7,37
3,42
25,92
159,31
1,07
7,15
1,35
2,51
0,08
0,35
0,08
0,69
0,06
11,89
2,61
6,22
3,21
0,96
15,59
53,82
21,63
7,97
6,53
5,28
81,01
0,02
421,40
5,73
13,24
182,85
(0,04)
16,19
26,88
788,69
92,32
(0,55)
2.844,86
-
0,11
(1,66)
1,60
3,30
-
0,53
3,89
0,18
0,01
0,19
0,07
4,15
2,41
3,13
5,41
15,17
-
-
0,05
9,60
9,65
0,71
29,60
2.874,46

(0,04)

1,27
(0,14)

4,22

5,31

(0,07)

0,15

0,08

5,28

0,02
23,50

(0,27)
(0,04)

1,52
30,00
0,05
(1,05)
57,88

0,02

0,02

0,05

0,05

0,07
57,95