Europe's Erasmus Mundus program was designed to enhance the quality of European higher education and to deepen intercultural understanding.

The program encourages personal mobility and cooperation between European and non-European academic institutions. Its goal is to promote the European Union as a world-class region of academic excellence, to contribute to the sustainable development of higher education in third countries, and to enhance students' career prospects.

The program's budget for 2009–13 is €950 million.