Article 8 Financial envelope

The financial envelope for the implementation of this Regulation for the period 2014-2020 shall be EUR 954 765 000.

The annual appropriations shall be authorised by the European Parliament and the Council within the limits of the multiannual financial framework.

In accordance with Article 18(4) of Regulation (EU) No 1288/2013 of the European Parliament and of the Council^f1, in order to promote the international dimension of higher education, an indicative amount of EUR 1 680 000 000 from the different instruments for financing external action (the Development Cooperation Instrument, the European Neighbourhood Instrument established by Regulation (EU) No 232/2014 of the European Parliament and of the Council^f2, the Instrument for Pre-accession Assistance (IPA II) established by Regulation (EU) No 231/2014 of the European Parliament and of the Council^f3 and the Partnership Instrument), shall be allocated to actions in respect of learning mobility to or from partner countries within the meaning of Regulation (EU) No 1288/2013, and to cooperation and policy dialogue with authorities, institutions and organisations from those countries. Regulation (EU) No 1288/2013 shall apply to the use of those funds.

The funding shall be made available through two multiannual allocations covering the first four years and the remaining three years respectively. The allocation of that funding shall be reflected in the multiannual indicative programming provided for in this Regulation, in line with the identified needs and priorities of the countries concerned. The allocations may be revised in case of major unforeseen circumstances or important political changes in line with the priorities of the Union's external action.

Actions within the scope of Regulation (EU) No 1288/2013 shall be funded by the Partnership Instrument only in so far as they are not eligible for funding under other instruments for financing external action and they complement or reinforce other initiatives under this Regulation.