Strategic Opportunities in Latin America and the Caribbean for the Next European Union Multiannual Financial Framework

The current proposal for the Global Europe instrument, the European Union (EU) primary financing tool for external action and international cooperation, within the new Multiannual Financial Framework (MFF) 2028-2034 acknowledges a new geopolitical, economic, and political agenda within Europe. This proposal calls for a more agile and flexible budget to give the Commission space to act more decisively, achieve a stronger impact, and foster coherence between the EUs external action and its internal priorities, such as competitiveness and strategic autonomy. Given the alignment between the geostrategic and economic potential of Latin America and the Caribbean (LAC) and the EU core objectives and interests, the Inter-American Development Bank Group (IDB Group) welcomes the proposal in the Global Europe instrument to allocate more resources to the LAC region.