Edition: Lublin 2015
The objective of this paper is to examine the development of the European Neighbourhood Policy (ENP) during the first decade of its functioning and to assess the dynamics of the cooperation in that policy-framework. The research presents changes in the institutional and legal framework, evolution of the tools and programmes, including the financial aspect. Additionally, the article analyses current evolution of the macroeconomic and political situation in the European Union and its neighbourhood – the financial crisis 2007+, the Arab Spring, and the turbulences in the Eastern dimension. The research allows to state that the output of the ENP is positive, especially in the economic aspect, nevertheless, the cooperation in the political area, including the structural reforms, still poses a great challenge. The incentivebased approach and comprehensive programmes should expedite the fulfilment of ENP objectives.