€11.181 billion to support the European Neighbourhood Policy for the period 2007-2013

A total of €11.181 billion will be allocated over the next seven years to support the European Neighbourhood Policy for the period 2007-2013. The regulation establishing the legal framework for the provision of assistance was approved by EU Foreign Ministers on October 17. Some 95% of the budget will be spent on country and multi-country programmes and the remaining 5% on cross-border cooperation. Implementation of the regulation begins on 1 January 2007.