The Common Agricultural Policy (CAP) is financed by two funds: The European Agricultural Fund for Rural Development (EAFRD) and the European Agricultural Guarantee Fund (EAGF). They both form part of the EU's general budget. The European Agricultural Guarantee Fund (EAGF) serves to finance direct payments to farmers and measures to respond to market disturbances, such as private or public storage and export refunds. The Fund is administered by the Directorate-General for Agriculture and Rural Development at the European Commission.