The proposed Global Europe Instrument (GEI) for the EU’s 2028–2034 budget signals a major shift toward investment-driven external action, moving away from traditional development approaches. Drawing on lessons from the European Fund for Sustainable Development Plus (EFSD+), experts warn that blending and guarantee-based tools often fail to deliver meaningful results, particularly for the most vulnerable communities. Reduced reliance on grants raises concerns around transparency, accountability, and alignment with the Sustainable Development Goals. Evidence suggests these instruments are driven primarily by profitability and risk-return considerations, limiting their impact on sustainable development and climate outcomes. The report calls on EU co-legislators to safeguard grant-based funding, strengthen oversight of investment instruments, and ensure ringfenced support for core development priorities to preserve accountability and effectiveness. Read more here.
Source: CONCORD
