Proposal for a COUNCIL DECISION concerning the commitment of the funds stemming from reflows under the ACP Investment Facility from operations under the 9th, 10th and 11th European Development Funds, the balances from the 10th EDF or from previous EDFs, and the funds decommitted from projects under the 10th EDF or from previous EDFs
1. The proposal from the European Commission to the Council sets out operational change to the administration of reflows under the African Caribbean and Pacific (ACP) Investment Facility (IF) from 9th, 10th and 11th European Development Funds (EDF). The European Development Fund (EDF) is the European Union’s (EU’s) main instrument for providing development aid to African, Caribbean and Pacific (ACP) States and EU Overseas Countries and Territories (OCTs).
2. This document sets a proposal to enable commitment of funds beyond 31 December 2020, from ACP Investment Facility (ACP IF) reflows, the balances from the 11th EDF or from previous EDFs, and the funds decommitted from projects under the 11th EDF or from previous EDFs. In order to maximise development impact, it is proposed that ACP IF reflows be deployed through the best mix of available financing; into the future European Fund for Sustainable Development Plus (EFSD+) of the future Neighbourhood, Development and International Cooperation Instrument (NDICI). The Commission intends to invest them in ACP countries through the European Investment Bank (EIB). In the absence of a Council decision, the funds stemming from the reflows would be paid back pro-rata to the Member States.