MECD stands for "Multiannual Financial Framework, European Development Cooperation", and it refers to the financial framework and development cooperation policies of the European Union (EU).
The Multiannual Financial Framework (MFF) is a seven-year budget plan that outlines the EU's financial priorities and sets the limits for its expenditures. It determines the amount of funding available for various EU policies and programs, including the European Development Cooperation (EDC) policy. The MFF is designed to ensure the effective and efficient allocation of EU funds, contributing to the achievement of the EU's objectives.
European Development Cooperation (EDC) focuses on promoting sustainable development, reducing poverty, and addressing global challenges in partner countries outside the EU. It encompasses a wide range of activities, such as humanitarian aid, infrastructure development, education and skills-building, good governance promotion, and climate change mitigation.
MECD combines the MFF and EDC to highlight the link between the EU's financial allocations and its development cooperation efforts. It signifies the significance of financial planning, prioritization, and distribution in the EU's development policies.
This concept underscores the European Union's commitment to global development cooperation and its efforts to alleviate poverty, promote sustainable development, and address major challenges faced by partner countries. The MECD framework provides a structured approach to funding, implementing, and assessing the impact of European development assistance. By consolidating the financial framework and development cooperation policies, MECD promotes transparent and accountable utilization of EU resources and ensures coherence in the EU's approach towards development cooperation.
