According to Reg.1290/2005 for the financing of CAP, including Rural Development, there are two Funds established inside the European Budget:     

  • The European Agricultural Guarantee Fund (EAGF)
  • The European Agricultural Rural Development Fund (EARDF)

The EAGF finances expenditure concerning the agricultural markets, that is refunds on exports, interventions on markets, direct payments and also central payments made by Commission for the promotion of agricultural products, veterinary actions, fisheries, etc.     
The EARDF finances programs of Rural Development.
The expenditure of Member States from 16 October 2006 on is financed from these two Funds.     
The unit of Income and Financing Policy has the responsibility of participating in the Funds Committee's meetings, which helps European Commission in its work. Also the Paying Agency (OPEKEPE) participates. Topics discussed are consultation on financing of the MS for the following month, consultation on clearance of accounts, vote on projects of Commission's regulations, etc.
    
For more informations: Dimitra Sergiani , tel. 210 212 5516, e-mail: ax5u015@minagric.gr

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