European parliament backs new rules on foreign policy funding

A deal with EU member states on six foreign policy funds, worth over 51 billion euro (USD 70.1) for 2014-2020, was endorsed by the European Parliament on Wednesday. These funds cover neighbouring and partner countries, peace-keeping, democracy and human-rights actions and for EU candidate countries, said an EP press release. EU foreign-policy spending will be more efficient and more effective, with greater democratic scrutiny, it noted. EU Commissioner for Enlargement and European Neighbourhood Policy Stefan Fule and EU Commissioner for Development Andris Piebalgs in a joint statement welcomed the approval by the European Parliament on the EU's external policy fund. "It is a beneficial package that will enable the EU to continue to be a global player and promote its interests and values. The instruments adopted today allow us to pursue cooperation with our external partners on four policy priorities: enlargement, neighbourhood, cooperation with strategic partners and development cooperation," added the statement.