Recently I introduced the concept of underpinning frameworks to our discussion proposing that it was these underpinning frameworks that were responsible for driving the decision making process and ultimately the lives of those who seek to thrive in the areas that are impacted by these decision.
Today we return to the Contonou Agreement and the European Union (EU) Partnership objective to “Expedite the economic, cultural and social development of the ACP States (African, Caribbean and Pacific group of States) with a view to contributing to peace and security and to promoting a stable and democratic political environment.”
The Contonou Agreement is in essence a 20-year (2000-2020) multiannual financial framework that outlines the overall financial assistance available to the ACP States. The document states that 31,589 million Euros will be available under the 11th European Development Fund (EDF) and that it will be allocated to support three specific areas.
The first area and the majority of the funds, 24,365 million Euros, are allocated to “finance national and indicative programmes”; national, country strategy, resource allocation, preparation and adoption of the programme and the reviewing process. The resource allocation is predicated on needs such as income per capita, population size, social indicators and levels of indebtedness or how much is owed, and performance allocation in the areas such as governance, “progress in implementing institutional reforms, country performance” and sustainable development measures.
The second area with a 3,590 million Euro allocation is to “finance intra ACP and inter-regional cooperation with many or all of the ACP States” in accordance with Articles 12-14 of the Agreement “concerning implementation and management procedures”.
1,134 Million Euros is allocated to financing the third area, which is the Investment Facility in accordance with the terms and conditions of financing for the Agreement.
The finances are managed by the European Investment Bank (EIB) with all other finances, outside of agreements to the EIB, being administered to by the Commission. The overall amount of money available through this agreement is for the period of 1 January 2014 to 31 December 2020 and will no longer be available after this date unless “the Council of the European Union decides otherwise by unanimity on the proposal from the Commission”.
Committee Ambassadors who act on behalf of the ACP and EU council for ministers may take appropriate measures to meet the programme requirements so long as they are in the overall amount of the multilateral financial framework.
Either the ACP or the EU may request and conduct a performance review at a mutually agreeable time and any Member State may make additional voluntary contributions to the Commission or EIB to further support the objectives of the Partnership Agreement.
This document is an important read and will help interested parties better understand the scope, challenges and decision-making basis when it comes to projects that rely on funding by the European Union as part of the Contonou Agreement.
Shepperson & Shepperson Consultants LTD
Source: zongonews.com / firstname.lastname@example.org