Global Europe — the EU Neighbourhood, Development and International Cooperation Instrument

 

SUMMARY OF:

Regulation (EU) 2021/947 establishing the Neighbourhood, Development and International Cooperation Instrument — Global Europe

WHAT IS THE AIM OF THE REGULATION?

The regulation sets up the Neighbourhood, Development and International Cooperation Instrument — Global Europe (NDICI-Global Europe). It is designed to uphold and promote European Union (EU) values, principles and fundamental interests worldwide in order to pursue the objectives and principles of the EU’s external action, to give the EU the flexibility to respond more quickly to new crises and challenges, to increase the effectiveness and visibility of the EU’s external policies and to strengthen their coordination with internal policies. It aims to:

KEY POINTS

Single instrument

The regulation creates a single instrument, bringing together 10 separate instruments from the 2014-2020 multiannual financial framework (MFF) and the European Development Fund, which was previously outside the EU budget.

Objectives

The regulation has a number of specific objectives:

Structure

The instrument is organised around 3 pillars.

Priorities

The instrument has a number of targets, including:

Investment framework

The instrument contains an investment framework, a basis for financing external action from the geographical pillar to raise additional funds for sustainable development from the public and private sector. It consists of:

Budget

The financing of the instrument covers 1 January 2021 to 31 December 2027, the duration of the MFF. It has a budget of €79.462 billion, which is broken down as follows:

with an additional €9.534 cushion for emerging challenges and priorities.

Supplementing act

Regulation (EU) 2021/947 was supplemented by Commission Delegated Regulation (EU) 2021/1530 of 12 July 2021.

FROM WHEN DOES THE REGULATION APPLY?

It has applied since 1 January 2021.

BACKGROUND

MAIN DOCUMENT

Regulation (EU) 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 (EU) 2017/1601 and Council Regulation (EC, Euratom) No 480/2009 (OJ L 209, 14.6.2021, pp. 1-78)

Successive amendments to Regulation (EU) 2021/947 have been incorporated into the original text. This consolidated version is of documentary value only.

last update 02.08.2021