EU announces increase in International Development

Minister for Trade and Development Joe Costello welcomes increased EU Budget for international development

Minister for Trade and Development Joe Costello today welcomed the European Council agreement on the new Multi-Annual Financial Framework (MFF), which will see the EU’s budget for international development increase by almost 5% over the period 2014 to 2020.

 The EU budget for external relations was today set at €58.7 billion for the period to 2020, an increase of €2.8 billion on the current EU budget. Approximately 90% of this funding will be used to tackle poverty, hunger and under-development around the globe.

Minister Costello said:

 “Today’s announcement ensures that the EU will remain the largest provider of overseas assistance this decade. This is a very positive outcome, particularly in the context of the difficult economic conditions which are affecting us all.   

 “The outcome of these long and challenging negotiations is particularly positive for the hundreds of millions of our fellow citizens who live in poverty and hunger and are in need of our assistance.

 “It also confers great responsibility on us to use these tremendous resources to respond to humanitarian crises and provide development assistance in the most effective and targeted way.

 “This agreement also legitimises our calls on all international donors, including new and emerging donors, to increase their spending on overseas assistance to a level similar to the EU, thus contributing their fair share to the global development efforts.

 “As EU Council Presidency, Ireland will take these negotiations forward with the European Parliament. We will work tirelessly to ensure a successful outcome.

 “Next Monday and Tuesday I will chair a meeting of EU Development Ministers in Dublin at which we will discuss the EU’s overseas aid budget. EU Commissioner for Development, Andris Piebalgs will give a presentation on the EU’s Multiannual Financial Framework and targets for EU spending on overseas assistance.”

8 February 2013