EuropeAid formulates the European’s Union development policy. Its aim is to help reduce poverty in developing countries through the promotion of sustainable development, democracy, peace and security. It translates these policies into practical actions through the budget support, which includes the delivering of high quality aid programmes that will have an impact on the quality of people’s lives. The EU external aid funding is spent on the following six priority areas:
– Trade and development: EuropeAid works with local partners to make sure that the trade agreements with third countries are not damaging the potential economic and environmental impacts of the developing country.
– Regional integration and co-operation: EuropeAid aims to build partnerships and integrating neighbouring regions.
– Macroeconomic policies; access to social services: EuropeAid funds poverty-reduction strategies and tops up health and education spending by developing governments.
– Transport: EuropeAid funds rural road construction, road and rail maintenance, investment in water and air transport safety, and developing policy and strategy reforms.
– Food security and sustainable rural development: EuropeAid helps to fight chronic food insecurity.
– Good governance, institutional capacity-building, and the rule of law: EuropeAid supports governance, peace and development by giving funds in a way to support countries with effective institutions.