2 March 2015: The EU’s 11th European Development Fund (EDF) has entered into force with a total of €30.5 billion in financing, according to a statement by the European Commission’s (EC) High Representative and Vice-President Federica Mogherini, and Commissioner for International Cooperation and Development Neven Mimica. The EDF will finance the EU’s development cooperation projects in African, Caribbean and Pacific (ACP) countries and with Overseas Countries and Territories (OCTs) to assist countries in their efforts to eradicate poverty and achieve the Sustainable Development Goals (SDGs).

Key areas supported by the EDF will include: sustainable development, including rural development and sustainable agriculture; environment; energy; food and nutrition; and health and education. The EDF will also support work related to democracy, good governance and the rule of law. In the statement, Mogherini and Mimica emphasize that these key areas represent “how the EU and its member states are clearly signaling support to the future post-2015 SDGs.”

The EDF is a cornerstone of the EU’s international cooperation and development policy. It implements the EU’s partnership with the ACP countries through the ACP-EU Coutonou Agreement and with OCTs through the Overseas Association Decision. Funding for the EDF comes from EU member states and is managed by the EC. [EU Press Release] [EDF Website] [11th EDF Website]