On Monday 26 January, the Cyprus Presidency of the Council of the EU and the European Parliament reached a provisional political agreement on amendments to the regulation establishing the Neighbourhood, Development and International Cooperation Instrument – Global Europe (NDICI), aimed at increasing the efficiency and effectiveness of the External Action Guarantee (see EUROPE B13650A15). This guarantee, which can be endowed with up to €53.4 billion, is the EU’s main instrument for...