Explanatory Memorandum to COM(2015)524 - Financial contributions to be paid by Member States to finance the European Development Fund, including the 2017 ceiling and the amount and first instalment for 2016 - Main contents
Please note
This page contains a limited version of this dossier in the EU Monitor.
| dossier | COM(2015)524 - Financial contributions to be paid by Member States to finance the European Development Fund, including the 2017 ceiling and ... |
|---|---|
| source | COM(2015)524  |
| date | 23-10-2015 |
The 11th Internal Agreement 1 and Council Regulation (EU) 2015/323 on the financial regulation applicable to the 11th European Development Fund (hereinafter referred to as '11th EDF Financial Regulation') provide for a procedure for the calls for contributions to be paid by Member States to finance the EDF. In accordance with Article 21(2) of the 11th EDF Financial Regulation, this proposal covers:
– The ceiling for the annual amount of the contributions for 2017;
– The annual amount of the contributions for 2016;
– The amount of the first instalment of the contribution for 2016.
In accordance with Article 21(7) of the 11th EDF Financial Regulation, the amount managed by the Commission and the amount managed by the European Investment Bank (EIB) are specified separately.
In accordance with Article 52 of the 11th EDF Financial Regulation 2 , the EIB has sent the Commission its updated estimates of commitments and payments under the instruments it manages.
In accordance with Article 22(1) of the 11th EDF 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 and the Commission.
In accordance with Article 21(2) of the 11th EDF Financial Regulation, the Council shall decide on this proposal at the latest by the 15 November 2015, and Member States shall pay the first instalment at the latest by the 21 January 2016.
Article 23(1) of the 11th 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.
In accordance with Article 1, second subparagraph of Council Decision 2013/759/EU regarding transitional measures EDF management measures from 1 January 2014 until the entry into force of the 11th European Development Fund (Bridging Facility) 3 , the shares of Member States’ contributions set out in Article 1(2)(a) of the Internal Agreements of the 8th, 9th and 10th EDF shall be reduced accordingly, after the entry into force of the 11th EDF Internal Agreement. The reduction will have an impact in 2015, 2016 and 2017 Member States' contributions to the Commission according to the option for adjustment chosen by each Member State.