International development cooperation has consistently been an integral component of the European Union's foreign policy. Like diplomacy, development cooperation is a means to foster stability, security and prosperity for all in an increasingly interconnected world. The COVID-19 pandemic, the climate crisis and the ripple effects of Russia’s full-scale invasion in Ukraine have underscored our global interdependence and the imperative for international collaboration, investment, and partnerships that promote equitable development globally while safeguarding the long-term interests of the EU and its citizens. 

Official development assistance (ODA) is a strategic investment in our collective future. Through development financing, the EU can advance equality, eradicate poverty, enhance health and education outcomes, and uphold human rights and fundamental freedoms in partner countries. The EU must continue to address global challenges and intensify efforts to mitigate humanitarian crises. Beyond fostering national well-being and socioeconomic development, international development serves as a stabilizing mechanism that upholds the rule of law, good governance, democracy, civic space, and the vital role of civil society worldwide. Defending these values globally is more crucial than ever, especially as the rules-based international order faces unprecedented pressures. 

Report by Oxfam