In light of the latest global developments, the search for all-embracing solutions based on multilateral cooperation, mutual trust and solidarity has underlined the need for global leadership, which the European Union (EU) is aiming to personify. After almost three decades since the signing of the Maastricht Treaty, the EU continues to play a major role in the international sphere and serves as a role model for strengthened cooperation beyond territorial borders. Nevertheless, the 21st century has been heavily marked by enormous challenges around the globe that do not stop at a national state's borderline. Recent crisis, no matter if of humanitarian, political, environmental or financial nature have widened the existing inequality gap between the Global North and South, exacerbated social upheaval and eroded the legitimacy of several governments worldwide, bringing the efficacy of international cooperation in question. The European Development Policy aims to foster sustainable development and stability in developing countries, with the ultimate goal of eradicating extreme poverty. The following paper attempts to examine the coherence of the EU Development Policy, analyzing to what extent has the EU accomplished to translate its broad framework of principles, objectives and instruments into action.