Introductory text

THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty on European Union and to the Treaty on the Functioning of the European Union,

Having regard to the Internal Agreement between the Representatives of the Governments of the Member States of the European Union, meeting within the Council, on the financing of European Union aid under the multiannual financial framework for the period 2014 to 2020, in accordance with the ACP-EU Partnership Agreement, and on the allocation of financial assistance for the Overseas Countries and Territories to which Part Four of the Treaty on the Functioning of the European Union applies^f1, and in particular Article 7 thereof,

Having regard to Council Regulation (EU) 2015/323 of 2 March 2015 on the financial regulation applicable to the 11th European Development Fund^f2, and in particular Article 21(3) and (4) thereof,

Having regard to the proposal from the European Commission,

Whereas:

In accordance with the procedure laid down in Article 21(3) of Regulation (EU) 2015/323 (‘the 11th EDF Financial Regulation’), the Commission is to present a proposal by 15 June 2018 specifying the amount of the second instalment of the contribution for 2018 and a revised annual amount of the contribution for 2018, in cases where that annual amount deviates from actual needs.

On 15 April 2018, in accordance with Article 52 of the 11th EDF Financial Regulation, the European Investment Bank (‘EIB’) sent its updated estimates of commitments and payments under the instruments it manages to the Commission.

Article 22(1) of the 11th EDF Financial Regulation provides that calls for contributions first use up the amounts provided for in previous EDFs. Therefore a call for funds under the 10th EDF for the EIB and 11th EDF for the Commission should be made.

On 20 November 2017, the Council adopted Decision (EU) 2017/2171^f3, setting the annual amount of the Member States' EDF contributions for 2018 at EUR 4 550 000 000 for the Commission and at EUR 250 000 000 for the EIB,

HAS ADOPTED THIS DECISION: