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At the historical foundation of today's EU, economic growth had subordinate role to the primary goal which was the desire for peace in Europe. Since the 90's, the original goal of peace-keeping has been replaced by other objectives, such as promotion of democracy and other values of the EU. This policy has been implanted into EU's relations with Ukraine. The article examines the relation between the EU and Ukraine and raises a question if the Neighborhood Policy of the EU can be called successful and tries to find a way out of the crisis within the EU – Ukraine – Russia relations.

The aim of the research was to answer the question if (and how) legal regulations (including the aims, principles, instruments, mechanisms and procedures) of EU policy on development cooperation allow implementation of the objective of development cooperation referred to Article 3 and 21 Treaty of European Union and article 208 Treaty of Functioning of the European Union, which is the elimination of poverty and an attempt to identify improper regulations that prevent the effective implementation of the assistance and the identification of new, relevant solutions. As the result of the research it has been proved that the quality of aid depends not only on the validity of the economic concept but also on the quality and transparency of the law regulating the operation of organizations which provide assistance. Chaotic and not complementary regulation causes bad quality of implementation of the set objectives and tasks. As part of the work were discussed such research areas as: scope and subjective of the EU policy on development cooperation, the sources of law and the hierarchy of legislation, the competence of the institutions which implement EU development policy, areas of action, which includes the EU's development policy, efficiency and effectiveness of development cooperation's control mechanisms.

1. Introduction 2. Poverty and development 3. The right to development as an international commitment to eradicate poverty 4. The principles of development aid policy 5. A framework of policies to combat poverty 6. Sustainable Development Goal 1 7. Good and bad practices in the eradication of poverty 8. New horizons for the eradication of poverty -- recommendations 9. Conclusion.