The current OAD covers the period 2014-2020 and supports a reciprocal partnership with the Union - in order to achieve sustainable development in OCTs. It is underlined that OCTs belong to the "European family". The association shall, in this respect, pursue enhancing OCTs competitiveness, strengthening the OCTs resilience, reduce OCTs economic and environmental vulnerability and promote cooperation between them and their partners.
The institutionalized framework of the association states that the Union, OCTs & Member States to which the OCTs are linked, shall regularly engage in a comprehensive political dialogue. Instruments to contribute to the OCTs sustainable development including financial resources and technical assistance aimed at strengthening the OCTs capabilities to formulate and implement strategic and regulatory frameworks. Finally OCTs are eligible for participation in funding from EU programs. The 11th EDF allocates 364.5 million Euros for OCTs. An amount of 100 million euros shall be provided by the European Investment Bank from its own resources in accordance with its rules and procedures.
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