Political and Institutional Aspects of the Formation of a New EU Neighborhood Policy

European Neighbourhood Policy has its origin from a large EU enlargement in 2004, when 10 new countries from Eastern Europe and the Mediterranean became members of EU. Due to this situation, Union's borders have moved to a new level with the task to build relationships with the new neighbors. The European Neighbourhood Policy (ENP) - a special extended format of the EU's relations with its neighbors, which does not include their entry into the Union, but only offers status of associated with EU country. This policy included a special financing instrument (European Neighbourhood and Partnership), as well as the formats of cooperation with the neighbors (Eastern Partnership, Union for the Mediterranean). In 2015 was declared a complete revision of the neighborhood policy, and within a year was published a number of official documents on the subject, the most important is the New European Neighbourhood Policy Project. Practice has shown that the ENP objectives: democratization and stabilization, act as mutually exclusive in some cases, which directly affect the effectiveness of the implementation of this policy. The main question that the author asks in this study: Will the EU be able to resolve this contradiction in the New Neighbourhood Policy? In this study, the author gives an overview of the institutional components of the ENP, describes the history of its formation and transformation, but also gives characteristics of the New European Neighbourhood Policy Project.