Global Policy Forum

"TEAM EUROPE" Corona package for partner countries: More honesty and fresh money needed

EU_TEAMThe figure sounds impressive: With a total amount of 36 billion euros the EU wants to help its partner countries in the Global South to deal with the economic and social consequences of the Corona virus crisis. However, the official communication by the EU no longer discloses which part of the package is fresh money and which part is reallocated from existing programs.









23 June 2020 | GPF

The figure sounds impressive: With a total amount of 36 billion euros the EU wants to help its partner countries in the Global South to deal with the economic and social consequences of the Corona virus crisis. This is the result of the recent meeting of EU Development Ministers which took place virtually on Monday, 8thJune 2020. This figure is a substantial increase compared to the 20 billion euros of the so called “Team Europe” package presented in April. The European Commission is supposed to contribute 14 billion euros to the package. Another 11 billion should come from the European Investment Bank and European Bank Reconstruction and Development, the remaining 11 billion from EU Member States. However, the official communication by the EU no longer discloses which part of the package is fresh money and which part is reallocated from existing programs.

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