At a time of global economic and financial worries and political turmoil in the Middle East and beyond, the European Union has crafted a new framework for development cooperation.
The plan, unveiled Oct. 13 by European Commissioner for Development Andris Piebalgs, focuses on the promotion of human rights and democratic values, improved governance and financial management, and mobilizing domestic revenues and reducing the dependency on aid in the developing world.
The new policy also calls for heightened emphasis on activities that support inclusive and sustainable growth, reduce aid to middle-income countries, and increase investments in private sector development.