Brussels, 16/12/2013 (Agence Europe) -In order to avoid any interruption in payments of development cooperation funds between the EU and the ACP (Africa/Caribbean/Pacific) countries from 1 January of next year, the Council of the EU has adopted interim measures by setting in place a payment facility to ensure a bridge between the 10th European Development Fund (2008-2013) and the 11th EDF (2014-2020). The decision was made on 12 December without debate, on the sidelines of the Foreign Affairs Council meeting in its Development configuration.
The measure was necessary as there was the risk that the entry into force of the internal arrangements signed in June 2013 to establish the 11th EDF could be delayed beyond 1 January 2014 (see EUROPE 10863).
The interim facility established by the Council will allow the funds to be available for the 79 ACP countries linked to the EU via the Cotonou Agreement and for overseas countries and territories (OCTs). It will be funded out of the resources of the 10th EDF or resources from earlier funds which have not been engaged or which have been disengaged.
Readers may recall that the 11th EDF has a budget of €31.5 billion over seven years (of which €29.1 billion will come from contributions from the member states of the EU, and €2.5 billion from the European Investment Bank (EIB) for guaranteed loans). The 10th EDF had an envelope of €22.3 billion over six years (2008-2013). (AN/transl.fl)