Council Regulation (EC) No. 1290/2005 on the financing of the common agricultural policy.

The present Regulation establishes specific requirements and rules on the financing of expenditure falling under the common agricultural policy, including expenditure on rural development. In order to attain the objectives of the common agricultural policy defined by the Treaty establishing the European Community and finance the various measures falling under it, including rural development, the following funds are hereby set up: (a) the European Agricultural Guarantee Fund (EAGF); (b) the European Agricultural Fund for Rural Development (EAFRD).