The European Commission welcomed on 9 June the decision of the European Parliament to adopt the Neighbourhood Development and International Co-operation Instrument (NDICI) – ‘Global Europe’, for the period 2021-2027. The EU can now use EUR79.5bn at current prices over the next seven-year period to promote global recovery. This envelope will be used to support international partnerships in the areas of sustainable development, climate changes, democracy, governance and human rights as well as peace and security.
The total budget for EU cooperation with Third Countries will be divided into the following categories:
* 60,38 billion Euros for geographical programmes (at least 19,32 billion Euros for the Neighbourhood);
* EUR 6,36 billion for thematic programs (Human Rights and Democracy, Civil Society Organisations, Peace, Stability and Peace Conflict Prevention, Global Challenges and Peace;
* EUR3,18 billion for rapid-response actions
A “cushion”, consisting of unallocated funds totaling EUR9.53 billion, could be added to any of these programs and the rapid response mechanisms to cover unforeseen circumstances, emerging challenges, or new needs.
The new instrument will support those countries that are most in need of help to overcome their long-term development challenges. It will also contribute to the achievement of the international commitments made by the Union, including the Sustainable Development Goals (SDGs), Agenda 2030, and the Paris Agreement.
NDICI-Global Europe unifies also grants, blending, and guarantees which will allow the EU promote public and private investments worldwide to support sustainable development. The investment will be backed up by a EUR53,4 billion External Action Guarantee.
Oliver Varhelyi, the EU’s Commissioner for Neighbourhood & Enlargement said that “the new external action financial tool will be a game changer in boosting resilience and prosperity of those closest to us.” It will support our renewed partnership with our Southern Neighbourhood. It will unlock the untapped potential of the region, and support its recovery post-COVID-19.
The NDICI Global Europe enters into effect on the date it is published, with retroactive effects from 1 January 2021.
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