This document is an excerpt from the EUR-Lex website
Development cooperation policy is one of the pillars of the European Union’s (EU) external action. EU development cooperation policy is based on the fundamental principles laid out in European treaties (Treaty on the Functioning of the European Union (Title III)). Its primary objective is the reduction and, in the long term, eradication of poverty. It promotes sustainability in all its dimensions – social, environmental, economic and political. The EU addresses global challenges through international partnerships that uphold and promote European values and interests, and contribute to peace and prosperity in the world. The EU and its EU Member States are the leading providers of official development assistance worldwide.