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The European Union will review its multi-billion-dollar foreign aid to better organize the distribution of the bloc's funding, taking into account its foreign policy interests.
As reported by Ukrinform, this was reported by Bloomberg.
According to the draft document, the European Commission wants to make external assistance more "targeted for the bloc's partners."
The European Union seeks to restructure its external assistance to secure its strategic interests, including strengthening “alliances with like-minded countries, securing access to raw materials and stemming the arrival of migrants.”
The draft document also states that the EU's general fund, which traditionally amounts to about 1% of the bloc's GDP, is "too expansive," given the range of funding requirements, from the "green transition" to defense.
It is noted that in the coming weeks the European Commission will outline ideas for improving its next seven-year budget from 2028 to 2034.
The European Commission's plan coincides with US President Donald Trump's decision to eliminate the United States Agency for International Development (USAID), which distributes tens of billions of dollars in aid abroad each year.
On the very first day, the US president announced the suspension of almost all foreign aid for 90 days.
