Global Europe - committees vote on the provisional agreement

27-04-2021 - 09:36
Landmark deal on new EU NDICI Landmark deal on new EU NDICI
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On 18 March, the Committees on Foreign Affairs and on Development voted on the provisional agreement resulting from interinstitutional negotiations establishing the Neighbourhood, Development and International Cooperation Instrument - Global Europe. With a proposed budget of €79.5 billion over the period 2021-2027, this instrument will radically overhaul the manner in which the financing of the European Union's external action is administered.

In an effort to streamline existing external financing instruments, the Global Europe Instrument merges ten existing regulations as well as the European Development Fund into one tool. This will make the financing of EU external action more coherent, transparent and flexible, and will allow the EU to effectively uphold and promote its values and interests worldwide.