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From Policy to Action
Since the Monterrey Consensus was signed in 2002 and in view of achieving the Millennium Development Goals (MDGs), the European Union has agreed to increase volumes of overseas development assistance (ODA). As a result, the EU will collectively be spending around €30 billion more per year on development assistance from 2010.
For the funding period 2007-2013, the European Commission has simplified its own funding toolkit so that there are now much fewer instruments through which it implements its external assistance. These instruments include the European Development Fund (EDF) and the Development Cooperation Instrument (DCI) (amongst several others).
It is the task of DG Development to programme the use of financial resources and support the management of the EDF and other forms of Community aid falling under the responsibility of DG Development.
Development aid must be delivered in an efficient and effective way if it is to benefit those who are most in need. The European Commission carries out careful analysis and consultations before committing funding. Aid can be distributed in a number of ways – through specific projects, via a sector approach or by budget support to recipient governments.
