With an overall allocation of €79.5 billion, the new Global Europe will cover the EU cooperation with all third countries, except for the pre-accession beneficiaries and the overseas countries and territories from the geographic programmes. The total allocation will be divided as follows:
- €60.38 billion for geographic programmes (at least €19.32 billion for the Neighbourhood, at least €29.18 billion for Sub-Saharan Africa, €8.48 billion for Asia and the Pacific, and €3.39 billion for the Americas and the Caribbean);
- €6.36 billion for thematic programmes (Human Rights and Democracy; Civil Society Organisations; Peace, Stability and Conflict Prevention; and Global Challenges);
- €3.18 billion for rapid response actions.
A “cushion” of unallocated funds of €9.53 billion could top-up any of the above-mentioned programmes and rapid response mechanism, to address unforeseen circumstances, new needs or emerging challenges and promote new priorities.
Global Europe will particularly support countries most in need to overcome long-term developmental challenges and will contribute to achieving the international commitments and objectives that the Union has agreed to, in particular the 2030 Agenda and its Sustainable Development Goals and the Paris Agreement. It merges several current external financing instruments under the EU budget.
Global Europe also unifies grants, blending and guarantees (the latter previously subject to specific rules and regulations, such as the EIB’s External Lending Mandate), which will allow the EU to strategically promote public and private investment worldwide in support to sustainable development through the European Fund for Sustainable Development Plus (EFSD+). Investments will be backed by an up to €53.4 billion External Action Guarantee, which will also cover the pre-accession countries.