Economy
EU budget: Transfer of unused 2014 EU budget commitments
The European Commission is seeking the approval of the European Parliament and the Council to transfer unused commitments for funds under shared management of €21 billion from 2014 to the budgets of 2015-2017. Shared management funds are when individual countries distribute funding, such as for rural development or regional development.
This is a one-off transfer which will ensure funding is still available for programmes which could not be finalized in 2014, due to the late approval of the seven-year framework for the EU budget. No additional money is requested for the EU budget as today's proposal does not affect the total amounts for the 2014-2020 period. The same procedure was applied at the start of the two previous budget cycles (2000-2006 and 2007-2013). It is foreseen in the rules for the EU budget as agreed by the European Parliament and member states in 2013.
More information is available online here and here.
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