One step closer to the 2021-2027 EU budget

On November 10th, the European Parliament and the Member States in the Council have reached an agreement on Europe’s next long-term budget and Next Generation EU, the temporary recovery instrument.

The MFF Regulation still must now be formally adopted by the European Parliament and the Council in upcoming votes.

The agreement between the European Parliament and the Council on the €1.8 trillion includes in short:

  • More than 50% of the amount will support modernisation through policies that include research and innovation, via Horizon Europe (€ 4bn increase); fair climate and digital transitions, via the Just Transition Fund and the Digital Europe Programme; preparedness, recovery and resilience, via the Recovery and Resilience Facility, rescEU and a new health programme, EU4Health (budget tripled from the Council proposal).
  • 30% of the EU funds will be spent to fight climate change and 7.5% of annual spending will be dedicated to biodiversity objectives from 2024 and 10% from 2026 onwards.

The European Parliament and the Council still need to negotiate the details of the €672.5 billion Recovery and Resilience Fund.

More details and the final ratification by both parties will follow in the weeks to come.

Reeleaf will follow the process and keep you updated.