Explanatory Memorandum to COM(2014)645 - Financial contributions by Member states to finance the European Development fund, including the ceiling for 2016, the amount for 2015 and the first instalment for 2015 - Main contents
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| dossier | COM(2014)645 - Financial contributions by Member states to finance the European Development fund, including the ceiling for 2016, the ... |
|---|---|
| source | COM(2014)645  |
| date | 16-10-2014 |
– The ceiling of the contributions from Member States for 2016;
– The amount of the contributions for 2015;
– The amount of the first instalment of the contribution for 2015.
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 10th EDF for both the EIB (1st call under the 10th EDF) and the Commission.
In accordance with Article 57(3) of the 10th EDF Financial Regulation, the Council must decide on this proposal at the latest by the 15th of November 2014, and Member States must pay the first instalment at the latest by the 21st January 2015.
Article 60(1) of the 10th EDF 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.