Brussels – The President of the European Commission Ursula von der Leyen unveiled the long-awaited recovery package. The proposal includes a revised €1.100 trillion long-term budget, as well as a new €750 billion recovery fund.
Amongst the revised figures are €118.2 billion for external spending (Heading 6), an increase of €9.3 billion, or 8.5% compared to the Commission’s 2018 initial proposal. The proposed Neighbourhood, Development & International Cooperation Instrument (NDICI), through which the vast majority of EU aid is channeled, also received a boost of €6.8 billion for a total of €86 billion, an 8.6% increase compared to the Commission’s 2018 figures.
Emily Wigens, EU Director at The ONE Campaign, said:
“The revamped ambitious proposal shows that the European Commission is ready to lead the way out of this pandemic within the EU and abroad. We need global cooperation and action to fight this pandemic and its repercussions – especially for the people, communities, and countries that are least able to withstand the shock.
The increase in funds for the EU’s external action shows that the Commission understands that international cooperation and development will be key in a post-corona world. In a world lacking global leadership, this is a strong pitch from President von der Leyen for the EU to take up this role.
We don’t yet know exactly how these funds will be allocated so we will continue to press for an increased share of EU aid in the next budget. With Africa’s hard-fought development and economic gains of recent years under threat, all eyes now turn to European heads of state and government. Are they ready to break with their traditional budget tribes and deliver a budget that provides greater opportunity, prosperity and optimism for the future, for Europe and its partners?”
- All figures quoted are in constant prices
- The European Commission’s updated proposal