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This article is not up to date. The European Agricultural Guidance and Guarantee Fund (EAGGF) was replaced by the European Agricultural Guarantee Fund (EAGF) and the European Agricultural Fund for Rural DevelopmentThe European Agricultural Fund for Rural Development is a European agricultural fund which was set up for the financing of rural development programmes by European Union Council Regulation No 1290/2005 of 21 June 2005 on the financing of the common agricultural policy....
(EAFRD) on 1 January, 2007 (Council Regulation (EC) No 1290/2005 of 21 June 2005 on the financing of the common agricultural policy).
The
European Agricultural Guidance and Guarantee Fund (EAGGF), set up by Regulation No 25 of 1962 on the financing of the
Common Agricultural PolicyThe Common Agricultural Policy is a system of European Union agricultural subsidies and programs. It represents 48% of the EU's budget, €49.8 billion in 2006 ....
(as last amended by Regulation (EEC) No 728/70) consumes a large part of the general budget of the
European UnionThe European Union is an economic and political union of 27 Member States, located primarily in Europe. Committed to regional integration, the EU was established by the Treaty of Maastricht on 1 November 1993 upon the foundations of the pre-existing European Economic Community...
.
The Fund's Guarantee Section finances, in particular, expenditure on the agricultural market organisations, the rural development measures that accompany market support and rural measures outside of Objective 1 regions, certain veterinary expenditure and information measures relating to the CAP.
The Guidance Section finances other rural development expenditure (not financed by the EAGGF Guarantee Section).
The Fund is administered by the
CommissionThe European Commission acts as an executive of the European Union. The body is responsible for proposing legislation, implementing decisions, upholding the Union's treaties and the general day-to-day running of the Union.The Commission operates in the method of cabinet government, with 27...
and the Member States, cooperating within the EAGGF Committee. The Fund Committee consists of representatives of the Member States and of the Commission.
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