European Commission Unveils 2014-2020 Budget Proposals

The European Union flags. The Development and Cooperation Instrument of the European Union is set to receive €20.6 billion ($29.87 billion) for the period 2014-2020. Photo by: EU

The Development and Cooperation Instrument of the European Union is set to receive €20.6 billion ($29.87 billion) for the period 2014-2020 under budget proposals adopted by the European Commission on June 29 (Wednesday).

“The Development and Cooperation Instrument (DCI) will receive €20.6 billion to focus on poverty eradication and to maintain our pledge to the Millennium Development Goals (MDGs),” European Commission President Jose Manuel Barroso said at a press conference, where he outlined key elements of the proposals adopted by the commission.

Barroso said he and Janusz Lewandowski, the European commissioner for financial programming and budget, had already presented the adopted proposals to the European Parliament, which shares control over the bloc’s budget with the Council of the European Union.

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.