European Development Fund

The European Development Fund (EDF ) is the main auxiliary instrument of the European Union in the framework of development cooperation with the African, Caribbean and Pacific ( ACP) countries and the overseas countries and territories (OCTs ). The Development Fund finances projects and programs that contribute to the economic, social or cultural development of the countries concerned. It comprises several instruments, including non-repayable aid, risk capital and loans to the private sector. The EDF is funded by the Member States of the European Union and has not yet been incorporated into the budget of the European Union.

The creation of a development fund was provided for in the original version of the EEC Treaty. The establishment of the European Development Fund itself is done, however, only by special agreement between the Member States that are created for each of the five years in the funding rules. The term of the development fund is aimed generally followed the partnership agreement. For the tenth Development Fund (2008-2013) earmarked funds in the amount of EUR 22.682 billion. Of this, EUR 21.966 billion for ACP countries are provided EUR 286 million for the overseas territories of EU Member States and 430 million EUR for the EU Commission for the management of the funds. The share of funding for national programs has been increased and thus underlines the EU's commitment to promote inter-regional economic integration as a basis for national and local development. Newly added are called in the 10th EDF "incentive amounts" (incentive payments) for the respective countries.

The recent development funds: