Parliament President Antonio Tajani and Commission chief Jean-Claude Juncker signed a strategic document, outlining the future of European development policy, at the opening of the European Development Days (EDD) event in Brussels.
EDD is Europe's leading forum on international cooperation and development, which opened on Wednesday and brought together European representatives, heads of state or government, business leaders and stakeholders to debate on global development.
A key moment of the first day of the two day gathering was the signature of the Consensus on European development, described as a strategic document, outlining the future of European development policy.
A Commission spokesperson said, "For the first time, the consensus will apply in its entirety to all EU institutions and all member states, who are committed to work more closely together.
"To coincide with EDD, the Commission announced support of €382m for the Central African Republic.
"This support package comes six months after the international donor's conference for the Central African Republic and will focus on peace consolidation, as well as economic and social development."
The jointly developed strategy was signed by the President of the European Parliament Antonio Tajani, the Prime Minister of Malta Joseph Muscat, on behalf of the Council, President of the European Commission Jean-Claude Juncker and EU foreign affairs chief Federica Mogherini.
The European consensus on development constitutes a comprehensive common framework for European development cooperation.