Article 22 Payment of the instalmentsF1

Calls for contributions shall first use up the amounts laid down for previous European Development Funds, one after the other.

The contributions of the Member States shall be expressed in euro and shall be paid in euro.

The contribution referred to in point (a) of Article 21(7) shall be credited by each Member State to a special account entitled ‘ European Commission — European Development Fund ’ opened with the central bank of the relevant Member State or the financial institution designated by it. The amount of such contributions shall remain in those special accounts until the payments need to be made. The Commission shall endeavour to make any withdrawals from the special accounts in such a way as to maintain a distribution of assets in those accounts corresponding to the contribution key pursuant to point (a) of Article 1(2) of the 10th EDF Internal Agreement.

The contribution referred to in point (b) of Article 21(7) of this Regulation shall be credited by each Member State in accordance with Article 53(1).