Annual accounts of the European Development Fund 2018

Summary:

Communication adopted on 26 June 2019 by the European Commission presenting the annual accounts of the EDF for the 2018 financial year.

Further information:

The European Development Fund (EDF) is the main instrument for providing EU aid for development cooperation to the African, Caribbean and Pacific (ACP) States and Overseas Countries and Territories (OCTs).

The EDF is not funded by the EU budget. It is established by an internal agreement of the Representatives of the Member States, sitting within the Council, and managed by a specific committee. The European Commission is responsible for the financial implementation of the operations carried out with EDF resources. The European Investment Bank (EIB) manages the Investment Facility.

The EDF financial statements are prepared on the basis of accrual-based accounting rules in accordance with International Public Sector Accounting Standards (IPSAS).