Are there any articles concerning the finances allocated to Development Cooperation?
There is no specific article on the finances going to EU development policy. The share of the EU budget going to Development Cooperation will be defined in the financial negotiations. The Lisbon Treaty sets the framework for these negotiations. Therefore EU finances are being defined in 2 steps: A. Negotiation on a Multiannual Financial Framework (MFF): These negotiations define how much will the member states be contributing to the EU budget in a given period (can be 7 years). These financial negotiations are currently taking place for the post 2013 period. The role of the European Parliament (EP) in these negotiations is set by the consent procedure by which the EP must and can approve or reject the proposal coming from the Commission, but cannot bring amendments. B. Annual budget negotiations: These negotiations happen on an annual basis under a special legislative procedure (similar to the ordinary legislative procedure – former co-decision – but with only one reading followed by t
