Explanatory Memorandum to COM(2014)347 - Financial contributions to be paid by Member states to finance the European Development fund in 2014, including the second instalment for 2014 - Main contents
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| dossier | COM(2014)347 - Financial contributions to be paid by Member states to finance the European Development fund in 2014, including the second ... |
|---|---|
| source | COM(2014)347  |
| date | 13-06-2014 |
– the amount of the second instalment of the contribution for 2014.
In accordance with Article 57(7) of the 10th EDF Financial Regulation, the amount managed by the Commission and the amount managed by the EIB are specified separately.
In accordance with Article 145 of the 10th EDF Financial Regulation, the EIB has sent the Commission its updated estimates of commitments and payments under the instruments it manages.
In accordance with Article 58(2) of the Financial Regulation calls for contributions should first use up the amounts available from previous EDFs, one after the other. The calls for contributions in this proposal therefore concern amounts under the 9th EDF for the EIB and the 10th EDF for the Commission.
In accordance with Article 57(3) of the 10th EDF Financial Regulation, the Council must decide on this proposal at the latest 21 calendar days following the presentation by the Commission of its proposal and Member States must pay the second instalment at the latest 21 calendar days following the date on which the Council decision was notified to them.
Article 60(1) of the Financial Regulation provides that a Member State which fails to pay the instalment of the contribution due by the deadline will be required to pay interest on the amount unpaid; the arrangements for the payment of interest are specified in the same Article