Approval of the financing instruments for EU external action by the European Parliament
Joint Statement by Commissioner for Enlargement and European Neighbourhood Policy Stefan Füle and Commissioner for Development Andris Piebalgs:
We are highly pleased that the European Parliament has just approved the legislative package on the EU's external instruments. It is a beneficial package that will enable the EU to continue to be a global player and promote its interests and values. In a globalised world it is more necessary than ever that we join forces and speak with one strong voice. By acting jointly, the EU can weigh in as a single and more powerful donor on a range of issues where national action offers less impact and less scope.
Democracy, peace, solidarity, stability and poverty reduction, as well as safeguarding global public goods, will be at the heart of external action for the next seven years. A central element of this package is to keep striving for a world without poverty, with our partner countries in the driving seat. In the next framework, the EU must seek to target its external resources where they are needed most and where they can provide better results. EU aid will therefore be focused on a limited number of sectors in each country (the most strategic and growth-oriented ones), and will reduce or stop its bilateral funding to those economies capable of financing their own development. Innovative forms of financing such as blending (mixing grants and loans to leverage investments) will be used. Simplified rules and procedures for EU assistance will help improve delivery and cut red-tape.
Full statement here: http://europa.eu/rapid/press-release_MEMO-13-1135_en.htm