Global Europe - Neighbourhood, Development and International Cooperation Instrument

DEVE AFET

Landmark deal on new EU NDICI — NDICI © Image used under the license from Adobe Stock

On 18 March, the Committees on Foreign Affairs and on Development approved the provisional agreement resulting from interinstitutional negotiations establishing the Neighbourhood, Development and International Cooperation Instrument - Global Europe. The text was adopted by 76 votes in favour, 13 against and 4 abstentions.

With a proposed budget of EUR 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.

On 7 June 2021, both Committees adopted the draft recommendation to the plenary on the Council's first reading on the regulation of the European Parliament and of the Council establishing the Neighbourhood, Development and International Cooperation Instrument - Global Europe. On 9 June, MEPs gave the green light to the setup of the new instrument.