The EU remains the most important provider of Official Development Assistance (ODA) in Latin America and the Caribbean with grants amounting to €3.6 billion for the period 2014-2020. The Development Cooperation Instrument's regional programme for Latin America and the European Development Fund's allocation for the Caribbean, are key instruments in this context. As the development of the region has advanced over the last decade, the European Union's policy has also increasingly shifted towards a partnership approach. The Partnership Instrument allows the EU to cooperate with partners around the world to advance the Union’s strategic interests and tackle global challenges.
Cooperation with LAC is broadly focusing on the following:
Prosperity Agenda: Support to stronger and inclusive growth, more diversified production structures, increased productivity and competitiveness, deeper regional integration, consolidated trade relations with the EU, overcoming the digital gap and technological upgrading.
People’s Agenda: Advancing shared prosperity, social cohesion and reducing inequality by improving the welfare of the poorer populations via domestic resource mobilisation and fiscal and social policies remain priorities.
Peace and Institutions Agenda: fight against organised crime and improving citizens' security, reinforcement of the capabilities of institutions, and further consolidation of state legitimacy, accountability and trustworthiness, are indispensable to deliver inclusive and sustainable growth.
Planet Agenda: Latin America and especially the Caribbean are vulnerable to and have already experienced the negative effects of climate change. The region’s participation in developing resilience, tackling climate change, mitigating its effects and coping with natural disasters are therefore priorities.
Partnership Agenda: LAC countries play an increasingly active role as international and regional actors able to shape the Global Public Goods and Challenges agenda. Commitment to multilateralism and affinity of policy objectives pursued by EU and LAC internationally present an opportunity for strong alliances capable of influencing and encouraging more effective global action. In this context the EU Partnership Instrument for cooperation is playing an increasingly important role in LAC.