Summary: EU Council approves €2bn financing for promotion of stability under EU's external relations policy (7 November 2006: Brussels)
The Council adopted today a regulation establishing an instrument to provide financial assistance during the 2007-13 period for the promotion of stable conditions for human and economic development and the promotion of human rights, democracy and fundamental freedoms under the EU's external relations policy.
The Council approved all amendments voted by the European Parliament following an agreement reached with the Parliament in first reading.
A total of EUR 2,06 billion over seven years will be provided from the Community budget for implementation of the regulation, which will involve development cooperation measures, as well as financial, economic and technical cooperation measures with third countries in the form of:
- assistance in response to situations of crisis or emerging crisis;
- assistance in the context of stable conditions for cooperation.
The regulation will apply as from 1 January 2007.
The instrument for stability is part of a new framework for planning and delivering assistance in order to make the EU's external assistance more effective. The framework also includes:
- an instrument for pre-accession assistance to candidate countries and countries that are potential candidates for membership of the EU;
- a European neighbourhood and partnership instrument;
- a development cooperation instrument;
- an instrument for industrialised and other high-income countries and territories;
- a financing instrument for the promotion of democracy and human rights worldwide.
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