Explanatory Memorandum to COM(2013)736 - Financial contributions to be paid by Member States to finance the European Development Fund, including the ceiling for 2015, the amount for 2014 and the first instalment - Main contents
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| dossier | COM(2013)736 - Financial contributions to be paid by Member States to finance the European Development Fund, including the ceiling for ... |
|---|---|
| source | COM(2013)736  |
| date | 28-10-2013 |
The Internal Agreement and Financial Regulation of the 10th EDF provide for a procedure for the calls for contributions to be paid by Member States to finance the EDF. In accordance with Article 57(2) of the 10th EDF Financial Regulation, this proposal covers:
– the ceiling for the annual amount of the contribution for 2015;
– the annual amount of the contribution for 2014;
– the amount of the first instalment of the contribution for 2014.
In accordance with Article 57(2) of the 10th EDF Financial Regulation, the Council must decide on this proposal by 15 November 2013 and Member States must pay the first instalment of the contribution at the latest by 21 January 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 for each.
In accordance with Article 58(2) of the 10th EDF Financial Regulation, calls for contributions should first use up the amounts available from previous EDFs, one after the other. Taking into account that the EIB doesn’t call for contributions for the first instalment, this proposal therefore concerns only amounts under the 10th EDF for the Commission.
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 60 of the 10th EDF Financial Regulation, 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.