2/17, 3:43 PM (Source: TeleTrader)
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EU outlines new multilateralism strategy

The European Commission unveiled on Wednesday its renewed strategy to "strengthen the European Union's contribution to rules-based multilateralism" and enhance its "extensive political, diplomatic and financial support to promote global peace and security, [...] international law, and [...] multilateral solutions to global challenges."

"At a time of growing skepticism, we must demonstrate the benefit and relevance of the multilateral system. We will build stronger, more diverse, and inclusive partnerships to lead its modernization and shape global responses to the challenges of the 21st century, some of which threaten the very existence of humanity," the bloc's High Representative for Foreign Affairs Josep Borrell said.

Back in December, the EU agreed on a fund worth €79.5 billion aimed at financing the bloc's "external actions" to "lead the global recovery [from the economic crisis caused by the coronavirus pandemic] through international partnerships."

Breaking the News / JR