The European Union will review its multi-billion-dollar foreign aid — they want the distribution of funds to be more in line with the blocʼs foreign policy interests in the "difficult international situation".
This is reported by Bloomberg with reference to the draft of the relevant document.
The publication notes that this is happening at a time when the number of priorities, including defense due to the war in Ukraine, is increasing, and the new US President Donald Trump is hostile.
The European Commission wants to deliver foreign aid on better terms, modernising it and making it more useful for partners. It will outline ideas for improving its next seven-year budget from 2028 to 2034 in the coming weeks.
The bloc wants to restructure foreign aid to ensure its strategic interests, including strengthening alliances with like-minded countries, access to raw materials, and curbing the influx of migrants.
The document, seen by Bloomberg, notes that the blocʼs overall budget, which amounts to about 1% of EU GDP, is overstretched due to a wide range of spending — from the green transition to defense.
- Bloomberg writes that the European Commissionʼs plan coincides with Trumpʼs decision to eliminate the United States Agency for International Development (USAID), which allocates tens of billions of dollars in aid each year.
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