Source: European Parliament
EU funding is subject to specific rules and regulations, in respect of sound financial management, which ensure oversight and accountability.
Particular attention is given to the respect of fundamental values, human rights, democracy and rule of law. Assistance can be suspended in the event of the degradation of fundamental values.
The Commission conducts regular monitoring and evaluation of funded programs to assess their impact, effectiveness and compliance with EU values and principles.
The Commission involves civil society organisations (CSOs) in the design, implementation and monitoring of EU-funded programmes and projects since CSOs play a crucial role in promoting democratic values and transparency.
The EU has also established solid mechanisms, such as continuous follow-ups, audits and verifications, to ensure transparency and accountability in the use of EU funds.
As a key multilateral actor, the EU is committed to achieving the United Nations Sustainable Development Goals[1], which include reducing poverty and inequality worldwide, including in non-EU regions.
Furthermore, the EU has established partnerships with countries in its Southern Neighbourhood to advance joint priorities, such as peace, stability, economic prosperity, upholding democratic values and human rights, notably working together with Member States through the Team Europe initiative and with special focus on gender issues (Gender Action Plan III[2]).
By acting together, recognising the growing interdependence, the EU also aims at turning common challenges into opportunities. By investing in these regions, the EU promotes its own economic interests for instance by increasing trade and creating opportunities for European businesses, while ensuring mutual benefits for partner countries.