Financial Regulation applicable to the 10th European Development Fund

The Official Journal of the European Union has published 19 march 2008 the rules for the establishment and financial implementation of the resources of the 10th European Development Fund (EDF) in the framework of the ACP-EC Agreement and in the Overseas Association Decision.

It has been publish by Council Regulation (EC) No 215/2008 of 18 February 2008 on the Financial Regulation applicable to the 10th European Development Fund. The European Development Fund (EDF). It is the main instrument for providing Community aid for development cooperation in the ACP States and OCT . The 1957 Treaty of Rome made provision for its creation with a view to granting technical and financial assistance, initially to African countries which at that time were still colonised and with which some Member States had historical links. The tenth EDF covers the period from 2008 to 2013 and provides an overall budget of EUR 22,682 million. Of this amount, EUR 21,966 million is allocated to the ACP countries, EUR 286 million to the OCT and EUR 430 million to the Commission as support expenditure for programming and implementation of the EDF. The budget of the Fund has increased from the 3,4 Meuros in 1960 to 2235 Meuro in 2000.

Each EDF is concluded normally for a period of five years. Since the conclusion of the first partnership convention in 1964, the EDF cycles have generally followed the partnership agreement/convention cycles.

  • First EDF: 1959-1964
  • Second EDF: 1964-1970 (Yaoundé I Convention)
  • Third EDF: 1970-1975 (Yaoundé II Convention)
  • Fourth EDF: 1975-1980 (Lomé I Convention)
  • Fifth EDF: 1980-1985 (Lomé II Convention)
  • Sixth EDF: 1985-1990 (Lomé III Convention)
  • Seventh EDF: 1990-1995 (Lomé IV Convention)
  • Eighth EDF: 1995-2000 (Lomé IV Convention and the revised Lomé IV)
  • Ninth EDF: 2000-2007 (Cotonou Agreement)
  • Tenth EDF: 2008-2013 (Revised Cotonou Agreement)

The European Investment Bank (EIB), acting on behalf of the Community, shall manage the Investment Facility, as well as interest rate subsidies, and shall conduct operations. The EIB shall undertake the financial implementation of operations carried out by means of loans from its own resources, where applicable combined with interest rate subsidies drawn from the EDF's grant resources.

Rules of procedure of the European Development Fund Committee
The European Development Fund Committee (the Committee) shall comprise the delegations of the Member States and shall be chaired by a representative of the Commission. In the committee may participate the European Investment Bank and the General Secretariat of the Council