In 2020, the European Union announced a stimulus package worth more than €2 trillion. It comprises €1.2 trillion for a Multiannual Financial Framework, or MFF, to cover spending from 2021 to 2027, as well as more than €800 billion to be channeled through the pandemic recovery instrument NextGenerationEU.
Included in the MFF is the Neighbourhood, Development, and International Cooperation Instrument-Global Europe — the EU’s main instrument for cooperation and development with partner countries.
The bloc’s objectives and priorities for development cooperation with non-European partner countries are defined through so-called multiannual indicative programs, or MIPs, which are financed under NDICI-Global Europe. In December, the EU reported an estimated €26.3 billion in financial cooperation through MIPs, including allocations for country-specific programs from 2021-2024 and regional programs from 2021-2027. However, upon reviewing each strategy document, Devex came up with a slightly higher value: €26.5 billion.