The article deals with the current stage of EU development policy. The evolution of the EU aid system is retrospectively analyzed. Attention is also paid to the key EU documents wherein the principles of current development policy are set forth. The background the EU is delivering its aid against is outlined. It involves political and economic crises, competition with the «rising» donors, including China, discussions on strategic autonomy, rise of the far-right parties. The pivotal changes in EU development policy are investigated, which are a new financial instrument, geographical redistribution of ODA flows, introduction of the Team Europe and Global Gateway initiatives, substantive change to the EU normative power concept. EU development policy is revealed to be increasingly acquiring a tactical character, with the focus having shifted onto the neighborhood and EU mainstream issues. Aspiration to make the aid system more flexible to rapidly respond to crises is noted as well.