European Union's external financing instruments (2014-2020 and 2021-2027) : Volume I: Synthesis report

his evaluation is simultaneously a final and mid-term exercise. It is the final evaluation of the External Financing Instruments (EFIs) forming the basis for the European Union (EU) external cooperation under the Multi-annual Financial Framework (MFF) covering the period 2014-2020 as well as the off-budget European Development Fund (EDF). At the same time, it is the mid-term evaluation of the EFIs forming the basis for EU external cooperation under the MFF 2021-2027. EU external cooperation is guided by: i) the policy framework in place at the time of design and implementation of an action, ii) the regulatory ('instruments') framework established under the MFF, and iii) a wide range of institutional factors and processes related to the design and delivery of the EU's external cooperation as a supranational structure. The evaluation aims to provide a balanced, credible and useful assessment of the instruments framework, including its fitness for purpose and its performance. It considers the way in which the instruments interact with the evolving EU policy framework and core institutional conditions and dynamics. It is not an overall assessment of EU external cooperation or specific policies that drive it.