Activities planned by ECOWAS and submitted to the European Union Funding will cost 56.6 M€ for this year. This comes from the 2011 work plan elaborated by ECOWAS for the implementation of the last phase of the Contribution Convention signed between EU and the ECOWAS Commission in June 2007.
Extending over the period 2007-2011, the Contribution Convention of EU-ECOWAS is an important support to the Commission for many fields including the establishment of Custom Union, the implementation of the common market, stability and macroeconomic convergence, institutional capacities building and strengthening competiveness of productive sectors.
The total amount of the Contribution Convention over the 5 years is 44.8 M€. The amount used in December 31st, 2010 is only 28 M€. The asset of December 31st, 2010 is 16.8 M€. With a request of funding of 56.6 M€ in 2011, the schedule funding gap on December 31st, 2011 is -39.8 M€.
In order to adapt the Contribution Convention to the important funding needs expressed by ECOWAS in 2011, an agreement aiming to reallocate the budgets by sub-components was signed in late 2010. Therefore, provisional high over-costs are mentioned in the sector of custom union (5.6 M€), of free movement (4.3 M€), of capacities building (19.1 M€) and of sector harmonization policies (6 M€).
Provisional over-costs are expected to be absorbed in 2011, or by the level of the annual execution of the work plan estimated at roughly 35%, or one or two budgets reallocations through the ongoing year.
In order to allow the Commission to receive the Contribution Convention on the 10th EDF, the 2011 work plan has integrated a substantial support to a training in relation with the criteria of 4 main points requested by EU and focused on good governance in term of accountability, of market opening, of audit and financial control.