{"id":2422,"date":"2025-02-10T21:52:17","date_gmt":"2025-02-10T22:52:17","guid":{"rendered":"http:\/\/www.developeternal.com\/?p=2422"},"modified":"2025-02-10T23:19:06","modified_gmt":"2025-02-10T23:19:06","slug":"eu-to-mimic-trumps-approach-to-foreign-aid-bloomberg","status":"publish","type":"post","link":"http:\/\/www.developeternal.com\/index.php\/2025\/02\/10\/eu-to-mimic-trumps-approach-to-foreign-aid-bloomberg\/","title":{"rendered":"EU to mimic Trump\u2019s approach to foreign aid \u2013 Bloomberg"},"content":{"rendered":"

The bloc will reportedly revamp its multi-billion-euro program to secure \u201cstrategic interests\u201d<\/strong><\/p>\n

<\/strong>The EU will review its multi-billion-euro foreign aid program to better align with its own policy interests amid budgetary constraints, rising defense expenditures, and the looming threat of US tariffs, Bloomberg has revealed.<\/p>\n

The decision follows US President Donald Trump\u2019s move to freeze most American foreign aid, citing corruption and uncontrolled spending within USAID\u00a0\u2013 Washington\u2019s primary tool for funneling political funding abroad. The bulk of US assistance is currently under a three-month review<\/a> to ensure it \u201caligns with American interests.\u201d<\/em><\/p>\n

Amid concerns over its increasingly stretched budget and competing priorities such as the Ukraine conflict, the European Commission (EC) is also looking to restructure its external aid program, Bloomberg reported<\/a> on Monday, citing an internal draft document.<\/p>\n

The bloc aims to take a more transactional approach to aid, using it to \u201csecure strategic interests,\u201d<\/em> strengthen alliances, and ensure access to critical raw materials while maintaining its reputation as a \u201creliable partner,\u201d<\/em> the newspaper wrote.<\/p>\n

\n Read more<\/strong><\/span><\/p>\n

\n \"US
USAID corruption at \u2018unexplainable\u2019 level \u2013 Trump<\/a><\/figcaption><\/figure>\n<\/blockquote>\n

The EU is collectively the world\u2019s largest provider of foreign aid, spending nearly \u20ac96 billion ($99 billion) in 2023, according to an EC report from last year. A significant portion of this aid has been directed to Kiev since the escalation of the Ukraine conflict in 2022, with total EU contributions now nearing $145 billion, according to the EC.<\/p>\n

Several EU member states, including Slovakia<\/a> and Hungary<\/a>, have halted military aid to Kiev and called for redirecting further Ukraine-related assistance toward domestic concerns.<\/p>\n

According to Bloomberg, the EU will present proposals for restructuring its foreign aid program in the coming weeks, with a focus on fine-tuning its seven-year budget for the period from 2028 to 2034. Competing with the US and China as a leading global donor, the EU seeks to expand its influence in resource-rich regions such as Africa and South America, the newspaper said.<\/p>\n

\n Read more<\/strong><\/span><\/p>\n

\n
Zelensky admits Ukraine doesn\u2019t control rare-earths Trump wants<\/a><\/figcaption><\/figure>\n<\/blockquote>\n

Earlier this month, Trump suggested that Kiev should grant Washington access to rare-earth metal deposits in exchange for continued US aid, arguing that it would serve as a \u201cguarantee\u201d<\/em> of returns on American investments. The US president has also repeatedly pressed NATO\u2019s European members to increase their defense spending and has threatened tariffs that could impact key European metal exports.<\/p>\n

Russian President Vladimir Putin has cited the protection of people in Donbass as a key reason for launching the military operation in Ukraine. Resources in these territories play a major role in NATO member states\u2019 support for Kiev, Russian Foreign Minister Sergey Lavrov\u00a0said in October 2024. \u201cTheir discourse revolves around territory and resources that they require in America,\u201d<\/em> he said. \u201cOur concern is not territories, but people.\u201d<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The bloc will reportedly revamp its multi-billion-euro program to secure \u201cstrategic interests\u201d The EU will review its multi-billion-euro foreign aid program to better align with its own policy interests amid budgetary constraints, rising defense expenditures, and the looming threat of US tariffs, Bloomberg has revealed. The decision follows US President Donald Trump\u2019s move to freeze…<\/p>\n","protected":false},"author":1,"featured_media":2424,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-2422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"http:\/\/www.developeternal.com\/index.php\/wp-json\/wp\/v2\/posts\/2422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.developeternal.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.developeternal.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.developeternal.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.developeternal.com\/index.php\/wp-json\/wp\/v2\/comments?post=2422"}],"version-history":[{"count":2,"href":"http:\/\/www.developeternal.com\/index.php\/wp-json\/wp\/v2\/posts\/2422\/revisions"}],"predecessor-version":[{"id":2426,"href":"http:\/\/www.developeternal.com\/index.php\/wp-json\/wp\/v2\/posts\/2422\/revisions\/2426"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.developeternal.com\/index.php\/wp-json\/wp\/v2\/media\/2424"}],"wp:attachment":[{"href":"http:\/\/www.developeternal.com\/index.php\/wp-json\/wp\/v2\/media?parent=2422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.developeternal.com\/index.php\/wp-json\/wp\/v2\/categories?post=2422"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.developeternal.com\/index.php\/wp-json\/wp\/v2\/tags?post=2422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}