In the course of the 2014-2020 MFF, the EU also launched ad-hoc instruments, such as the EU trust funds. The revision of the Financial Regulation in 2012 introduced the possibility of creating trust funds and the Financial Regulation applicable to the 11th EDF also offers this possibility. Consequently, the EU has created four trust funds (the Bêkou Trust Fund, the Madad Trust Fund, the Emergency Trust Fund for Africa, and the Trust Fund for Peace in Colombia) as a response mainly to the migration and refugee crises. They operate outside the EU budget and are funded by a combination of EU budget funds and direct contributions by Member States and other donors (Figure 3). EUTFs are established with a constitutive act, signed by the Commission and the donors, and have specific governance arrangements. Each EUTF has a board, chaired by the Commission; the donors and the non-contributing Member States are represented on the board as observers. The board gives general orientations on the strategy, and an Operational Committee decides upon the use of the funds and approves the programmes. Trust funds, while managed outside the EU budget, nevertheless abide by the principles of sound financial management. They have a specific time span that can be extended by the Commission after consultation with the relevant committees. The EU budget contribution comes from various instruments, such as the European Neighbourhood Instrument, the Instrument for Pre-accession, the Development Cooperation Instrument, humanitarian aid, the EDF and a contribution from the DG Migration and Home Affairs’ budget.
Financing for the EU trust funds (in € millions)
European Parliamentary Research Service
We write about
Disclaimer and Copyright statement
The content of all documents (and articles) contained in this blog is the sole responsibility of the author and any opinions expressed therein do not necessarily represent the official position of the European Parliament. It is addressed to the Members and staff of the EP for their parliamentary work. Reproduction and translation for non-commercial purposes are authorised, provided the source is acknowledged and the European Parliament is given prior notice and sent a copy.
For a comprehensive description of our cookie and data protection policies, please visit Terms and Conditions page.
Copyright © European Union, 2014-2023. All rights reserved.
Be the first to write a comment.