The European Union plans to increase its external aid payments to €7.293 billion ($10.6 billion) for 2012.
Under its draft budget for 2012, the bloc seeks to hike its external aid payments by 0.8 percent from €7.238 billion in 2011.
Funding for the EU’s external policy, which covers trade, development assistance and cooperation agreements, represents 5.5 percent in the bloc’s draft payment appropriations budget for 2012. The European Commission has proposed a 4.9 percent increase in the EU’s 2012 budget to €132.7 billion.
Increased funding is expected for the European External Action Service, European Voice reports. Meanwhile, the Development Cooperation Instrument has been reduced by €70.7 million “as a result of its performance assessment,” according to a statement from the commission.
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