COMMUNICATION FROM THE COMMISSION TO THE COUNCIL Financial information on the European Development Fund European Development Fund (EDF): forecasts of commitments, payments and contributions
1. The European Development Fund (EDF) is the main instrument for providing EU aid for development cooperation in the African, Caribbean and Pacific (ACP) States and Overseas Countries and Territories (OCTs). This document confirms EDF commitments, payments and contributions for calendar year 2018 including for the Investment Facility which is managed by the European Investment Bank (EIB). It also outlines the updated estimated EDF commitments, payments and contributions for calendar years 2019 and 2020. It also provides non-binding estimates for 2021 and 2022 to enable Member States to plan and forecast national budgets.
2. The confirmed EDF commitments in 2018 exceeded its target by €422m (£374m) , reaching a total of €4,959m (£4,398m). Commitments are the financial amounts allocated to approved programmes, ahead of payments being made. The Communication explains this high level of commitments being due to rising levels of commitments over the past few years and which should result in a more gradual level of commitments in the last two years of EDF 11. EDF payments by the Commission for 2018 totalled €4,124m (£3,658m), which was 98.2% of its target and is comparable to the previous year’s record level of payments. The total contributions from Member States for 2018 was consistent at €4,500m (£3,991m) as we had expected them to be. The 2019 contribution figures have remained consistent at €4,700m (£4,169m), of which the UK share is still €690m (£612m). There has been a relatively small change in 2019 estimated payments from €4,980m (£4,417m) to €4,990m (£4,426m) due to a €10m (£8.9m) increase in EIB payments. The 2019 commitments have also seen a small increase from €4,987m (£4,423m) to €5,013m (£4,446m). The EDF remains on track to be fully committed by the end of 2020.