Explanatory Memorandum to COM(2015)296 - Financial contributions to be paid by Member States to finance the European Development Fund in 2015, including the second instalment for 2015 - Main contents
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| dossier | COM(2015)296 - Financial contributions to be paid by Member States to finance the European Development Fund in 2015, including the second ... |
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| source | COM(2015)296  |
| date | 15-06-2015 |
Even though the 11th European Development Fund1 has entered into force, the new procedure concerning Member States' contributions (Articles 21-24 of the Council Regulation (EU) 2015/323 on the financial regulation applicable to the 11th European Development Fund2) will apply for the first time for the first 2016 instalment. Article 63 Council Regulation (EU) 2015/323 stipulates that the procedure concerning Member States' contributions laid down in Articles 21 to 24 of the Regulation shall apply for the first time with regard to the contributions of the year N + 23, provided that the 11th EDF Internal Agreement enters into force after the year N (1 March 2015 = N+1), so those articles will apply for the N+2 (1st call of contributions 2016). Until that date, the Commission is still referring to the 10th EDF Financial Regulation Regulation4 for matters related to Member States' contributions covered by those articles.
The Internal Agreement and Financial Regulation5 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(3) of the Council Regulation 215/2008 on the financial regulation applicable to the 10th EDF European Development Fund6, this proposal covers:
- the amount of the second instalment of the contribution for 2015.
In accordance with Article 57(7) of the 10th EDF Financial Regulation7, the amount managed by the Commission and the amount managed by the European Investment Bank (EIB) are specified separately.
In accordance with Article 145 of the 10th EDF Financial Regulation8, 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 10th EDF Financial Regulation9, 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 the Commission and the EIB.
In accordance with Article 57(3) of the 10th EDF Financial Regulation10, 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 10th EDF Financial Regulation11 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.