Global Europe: EU greenlights amendments to enhance efficiency and flexibility of European external action

Today, the Council of the European Union formally adopted targeted amendments to the regulation establishing the Neighbourhood, Development and International Cooperation Instrument – Global Europe (NDICI-Global Europe), aimed at increasing the efficiency and effectiveness of the External Action Guarantee (EAG). 

The EAG is one of the EU’s key instruments for supporting investments outside the Union by reducing financial risks and mobilising public and private financing.

“With today’s adoption, we send a clear message: the EU is – and will remain – a reliable and predictable partner, ready to mobilise investment at scale and to act decisively where it matters most,” said Constantinos Kombos, Minister of Foreign Affairs of the Republic of Cyprus. “This is about delivering more with the tools already at our disposal. These targeted improvements make our external investment instruments faster, more flexible and more effective, while keeping full respect for our values and objectives.”

The regulation will enable the EU to use existing resources more effectively and strategically in support of its external action priorities, including the mobilisation of sustainable investment through the European fund for sustainable development plus (EFSD+). It preserves the objectives and principles of the NDICI-Global Europe framework, while introducing practical improvements that will allow the EU to respond more rapidly and coherently to global challenges.

With an overall allocation of €79.5 billion, the new Global Europe covers EU cooperation with all third countries, except for the pre-accession beneficiaries and the overseas countries and territories from the geographic programmes. 

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Press release