EU to reconsider multibillion-dollar foreign aid allocations amid Trump’s remarks - Bloomberg
The European Union will revise its multibillion-dollar foreign aid to more closely align the bloc's allocation of funds with foreign policy interests in a difficult international situation.
According to Censor.NET, this is stated in a draft document reviewed by Bloomberg.
It is noted that this step comes at a time when the European Commission is struggling with a growing list of priorities, including defense, amid the war in Ukraine and hostile statements by US President Donald Trump in his first weeks in office.
According to the draft document, the European Commission wants to become more transactional, reforming foreign aid and making it more "targeted to our partners."
The EU also aims to restructure foreign aid to meet its strategic interests, including strengthening alliances with like-minded countries, securing access to raw materials, and curbing the influx of migrants.
The draft document notes that the EU's general budget, which traditionally amounts to about 1% of the bloc's GDP, is overstretched due to a wide range of demands, from the "green" transition to defense.
In the coming weeks, the European Commission will present ideas for improving its next seven-year budget for the period from 2028 to 2034.
