European Development Fund
The European Development Fund (EDF) is the main instrument for European Union (EU) aid for development cooperation in Africa, the Caribbean, and Pacific (ACP Group) countries and the Overseas Countries and Territories (OCT). Funding is provided by voluntary donations by EU member states. Until 2020 the EDF was subject to its own financial rules and procedures, and was managed by the European Commission (EC) and the European Investment Bank. The EDF has been incorporated into the EU's general budget as of the 2021-2027 multi-annual financial framework.
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Articles 131 and 136 of the 1957 Treaty of Rome provided for its creation with a view to granting technical and financial assistance to African countries that were still colonised at that time and with which certain countries had historical links. Usually lasting 6 years, each EDF lays out EU assistance to both individual countries and regions as a whole.