Article 2

Additional financial support may be mobilised from the 11th European Development Fund reserve for unforeseen needs, in order to mitigate the short term adverse effects resulting from exogenous shocks, including the effects on export earnings, and safeguard the socioeconomic reforms and policies jeopardised by the drop in revenue.

ACP countries, struck by exogenous shocks, shall address a request for financial support to the European Commission for this purpose, which will be examined through a needs oriented case by case approach in the multi-annual financial framework of cooperation under the ACP-EU Partnership Agreement.

Assistance shall be administered and implemented under procedures permitting operations that are rapid, flexible and effective. The European Commission will report periodically to the ACP-EU Development, Finance Cooperation Committee.