The EU’s 2014-2020 External Financial Instruments: An Opportunity for the European Parliament to Play a Greater Role

29-01-2014

On 11 December 2013, following 18 months of trilogue negotiations between the European Parliament, the Commission and the Council, MEPs endorsed a compromise on the EU’s external financial instruments. With a total value of approximately EUR 51 billion, the new external financial instruments – which include the Instrument for Pre-Accession Assistance, the European Neighbourhood Instrument, the Instrument for Stability and Peace, the European Instrument for Democracy and Human Rights, the Instrument for Development Cooperation and the newly created Partnership Instrument – will provide the framework to determine and disburse EU financial assistance. The compromise enhances the EP’s role in overseeing the instruments. The main negotiation stumbling block has concerned the use of 'delegated acts', though this may be overcome by combining annexes amendable through delegated acts, a compulsory mid-term review of these annexes and a ‘strategic dialogue’ mechanism permitting greater consultation with the European Parliament for the multiannual programming documents.

On 11 December 2013, following 18 months of trilogue negotiations between the European Parliament, the Commission and the Council, MEPs endorsed a compromise on the EU’s external financial instruments. With a total value of approximately EUR 51 billion, the new external financial instruments – which include the Instrument for Pre-Accession Assistance, the European Neighbourhood Instrument, the Instrument for Stability and Peace, the European Instrument for Democracy and Human Rights, the Instrument for Development Cooperation and the newly created Partnership Instrument – will provide the framework to determine and disburse EU financial assistance. The compromise enhances the EP’s role in overseeing the instruments. The main negotiation stumbling block has concerned the use of 'delegated acts', though this may be overcome by combining annexes amendable through delegated acts, a compulsory mid-term review of these annexes and a ‘strategic dialogue’ mechanism permitting greater consultation with the European Parliament for the multiannual programming documents.