Brussels, 07/06/2013 (Agence Europe) - ACP ministers (African/Caribbean/Pacific) and EU ministers, meeting in joint ACP-EU Council, approved in Brussels, on Friday 7 June, the amount of €31.5 billion for funding development cooperation between the EU and the ACP countries for the 2014-2020 period. The EU Foreign Affairs Council approved this financial offer for the 11th European Development Fund (EDF) on 28 May this year. Formal adoption of the financial protocol of the Cotonou Agreement linking the EU to the ACP group of states was possible once certain arrangements for implementation had been finalised by both sides. On behalf of the EU, Joe Costello, the Irish trade and development minister and president of the Foreign Affairs Council, said this “historic” unanimous agreement had come at a decisive time.
Phandu T. C. Skelemani, who is minister for international cooperation in Botswana and president of the ACP Council, also welcomed the agreement although he did underline that the development of the private sector, which is the “driving force of our economies” must take pride of place when it comes to cooperation. He alluded to the fact that the Centre for the Development of Enterprise (CDE) is no longer mentioned in the financial protocol, as Europeans consider it is not sufficiently effective, given that half of the costs relate to operational costs. The president of the ACP Council also underlined the importance of increasing the ACPs' absorption capacity of funds saying it is necessary to have that capacity as, although it is one thing to have ready money, it is quite another to know how to use it properly - and they look to Europe to help them to do so.
Andris Piebalgs, European Development Commissioner, welcomed this crucial breakthrough as the magnitude of the financial resources gives a prospect for cooperation with ACP partners that will be geared to the eradication of poverty and no longer to simply the alleviation of poverty. The 10th EDF had €22.3 billion over six years (2008-2013). The allocation for the 11th EDF represents a 0.2% increase in real terms, i.e. a spending commitment that is almost equivalent.
Out of the €31.5 billion in the budget of the 11th European Development Fund over seven years, €29.1 billion will come from EU member state contributions and €2.5 billion from the European Investment Bank (EIB) for subsidised loans.
Most of the funding, i.e. €24.3 billion, will be used to finance national programmes of the various ACP countries and the regional cooperation programmes. Intra-ACP cooperation among several or all of the ACP countries will be supported with €3.59 billion, and €1.13 billion will be used to fuel the investment facility managed by the EIB. Pim van Ballekon, EIB Vice President for subsidised loan operations to ACP states, pointed out that 2013 marked the 10th anniversary of the investment facility and the 50th anniversary of EIB support to ACP States.
Programming of the 11th EDF is currently underway. (AN/transl.jl)