Neighbourhood, Development and International Cooperation Instrument - Global Europe
As part of the EU budget for 2021-2027, the program merges several of the existing European financing instruments, such as the European Development Fund. The objective of the new approach is to defend and promote its values and interests throughout the world, as well as to support multilateral efforts on a global scale. The Global Europe instrument will finance European foreign policy priorities for the next seven years. In addition, it will support sustainable development in the countries of the European neighbourhood, sub-Saharan Africa, Asia and the Pacific and America and the Caribbean.
Regulation 2021/947 of the European Parliament and of the Council of 9 June 2021 establishing the Neighbourhood, Development and International Cooperation Instrument – Global Europe, amending and repealing Decision No 466/2014/EU and repealing Regulation 2017/1601 and Council Regulation 480/2009 | OJ L 209/01, 14.6.2021
The Neighbourhood, Development Cooperation and International Cooperation Instrument. A Global Europe (2021-2027) | brochure
With an overall allocation of €79.5 billion, the new Global Europe will cover the EU cooperation with all third countries, except for the pre-accession beneficiaries and the overseas countries and territories from the geographic programmes. The total allocation will be divided as follows:
€60.38 billion for geographic programmes (at least €19.32 billion for the Neighbourhood, at least €29.18 billion for Sub-Saharan Africa, €8.48 billion for Asia and the Pacific, and €3.39 billion for the Americas and the Caribbean);
€6.36 billion for thematic programmes (Human Rights and Democracy; Civil Society Organisations; Peace, Stability and Conflict Prevention; and Global Challenges);
€3.18 billion for rapid response actions.
A “cushion” of unallocated funds of €9.53 billion could top-up any of the above-mentioned programmes and rapid response mechanism, to address unforeseen circumstances, new needs or emerging challenges and promote new priorities.
Global Europe will particularly support countries most in need to overcome long-term developmental challenges and will contribute to achieving the international commitments and objectives that the Union has agreed to, in particular the 2030 Agenda and its Sustainable Development Goals and the Paris Agreement. It merges several current external financing instruments under the EU budget.
Global Europe also unifies grants, blending and guarantees (the latter previously subject to specific rules and regulations, such as the EIB’s External Lending Mandate), which will allow the EU to strategically promote public and private investment worldwide in support to sustainable development through the European Fund for Sustainable Development Plus (EFSD+). Investments will be backed by an up to €53.4 billion External Action Guarantee, which will also cover the pre-accession countries.