The size of the contributions transferred to the GFEA is determined annually, depending on the budget that is adopted. The contributions for 2018 amount to €137.8 million, down by about €102.7 million compared to the 2017 budget. The EU provisioning to adjust the Fund to 9 % of the total outstanding loans under the ELM, based on Articles 3 and 5 of Regulation No 480/2009, needs the approval of the Council and the European Parliament, in order to be recognised as an asset for the Fund. The actual provisioning amount is calculated ex-post and is paid from the budget into the GFEA with a two-year delay. The evolution of the Fund for the 2014-2018 period is shown in Figure 1 below.
Be the first to write a comment.