The FINANCIAL -- In a more challenging global environment, the European Union needs to step up its actions to enhance its ability to prevent conflicts, build peace and strengthen international security. By proposing a new European Peace Facility the European Union is taking another step towards cementing its role as a global actor.
The EPF is a proposal by the High Representative, to set up a new off-budget fund , a fund outside of the Union's multi-annual budget, worth €10.5 billion. It will enable the financing of operational actions under the Common Foreign and Security Policy (CFSP) that have military or defence implications. It will draw together existing off-budget mechanisms, namely the Athena mechanism or the African Peace Facility, devoted to security and defence, overcoming their gaps and limitations, according to EU neighbours.
The EPF will replace the African Peace Facility and the Athena mechanism. It will continue financing actions currently supported through these instruments, but will allow the EU to overcome geographic and thematic limitations, building on the experience of the last years.
The aim of the EPF is to:
Increase effectiveness of operations:
Carry out broader actions