There are two type of programmes: Erasmus+ and Global Exchange
Erasmus+ is a EU funded programme, which contains a wide range of measures designed to support the European activities of higher education institutions, including mobility and exchange of their students and teaching staff.
The only difference between Erasmus+ and Global Exchange is Erasmus + students may receive mobility grants provided by the EU to partially meet living expenses of exchange period. In Global Exchange program, students –generally- must cover all their expenses except tuition fee. The whole procedure (application, selection etc) is the same for both agreement types.