Funding instruments in the field of migration and asylum management cover, on the one hand, different EU policy fields, such as enlargement, neighbourhood, development cooperation and common foreign and security policy, as well as, on the other, international projects such as those managed by the International Organization for Migration (IOM) and the United Nations Refugee Agency (UNHCR) at a more global level. The legal basis of each funding instrument provides for the range of its geographical and thematic coverage. In addition, interaction takes place between the different areas covered by the thematic and geographic programmes and other external financing Instruments. The funding landscape changed in 2013 with the new Financial Regulation applicable to the EU budget. This enabled the European Commission to create and administer Union Trust Funds in the field of external action, from 2014: these include multi-donor trust funds for emergency, post-emergency or thematic actions such as the Bêkou and the Madad Fund. The European Parliament welcomed this development in an April 2013 resolution, considering that it would allow the EU to raise the visibility of its external action and to have greater control over the delivery chain of such funds. Following the Valletta Summit in November 2015, an Emergency Trust Fund for stability, to address the root causes of irregular migration and displaced persons in Africa was created. To meet the increased migratory challenges, EU funding for the 2015-2018 period has more than doubled. Moreover, the crisis in Syria and in the neighbouring region led to the creation of different funding instruments, by the EU and the international community. EU agencies active externally are also funded through the EU budget. For the 2015-2018 period contributions for support to such EU agencies and their operations reaches €1.4 billion. Funding is one of the main instruments for EU cooperation with third countries in the area of migration, asylum and borders.