What is the budget of Horizon Europe?

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The European Union has embarked on an ambitious journey to foster recovery and resilience across its member states.

Central to this endeavor are the EU’s long-term budget for 2021-2027 and the NextGenerationEU recovery instrument.

The European Union’s long-term budget for 2021-2027 totals €1.074 trillion, supplemented by the temporary recovery

EU’s Long-Term Budget and NextGenerationEU: A Comprehensive Overview

instrument, NextGenerationEU, amounting to €750 billion. Over 50% of this budget is allocated to modernization efforts, including:

  1. Research and Innovation, facilitated through Horizon Europe.
  2. Fair climate and digital transitions, supported by the Just Transition Fund and the Digital Europe programme.
  3. Preparedness, recovery, and resilience, aided by the Recovery and Resilience Facility and the new Health Programme, EU4Health.

Additionally, traditional policies like the cohesion and common agricultural policy will be modernized to align with green and digital transitions, receiving significant funding from the EU budget. Notably, 30% of EU funding, encompassing both NextGenerationEU and the Multiannual Financial Framework (MFF), is earmarked for combating climate change. The package also prioritizes biodiversity protection and gender mainstreaming.

Let’s explore the key highlights of these pivotal financial frameworks.

Funding Allocation

  • €1.074 Trillion for MFF: The Multiannual Financial Framework (MFF) for 2021-2027 is endowed with €1.074 trillion, serving as a cornerstone for financing various EU programs and policies.[1][5]
  • €750 Billion for NextGenerationEU: Complementing the MFF is the NextGenerationEU recovery instrument, boasting a staggering €750 billion. This temporary initiative is designed to expedite Europe’s post-pandemic recovery efforts.[5]

Modernization Priorities

  • Research and Innovation: Horizon Europe emerges as a key beneficiary, receiving substantial funding to drive research and innovation initiatives.[1]
  • Climate and Digital Transitions: The Just Transition Fund and Digital Europe initiatives are instrumental in facilitating fair climate and digital transitions, aligning Europe with contemporary imperatives.[1]
  • Preparedness and Resilience: The Recovery and Resilience Facility, alongside EU4Health, are pivotal in fortifying Europe’s preparedness, recovery, and resilience against future crises.[1]

Traditional Policies Modernized

  • Cohesion and Agricultural Policies: In a bid to align with green and digital objectives, traditional policies like cohesion and common agricultural policies undergo modernization.[1]

Climate and Environment Focus

  • Climate Action: An impressive 30% of funding from both the MFF and NextGenerationEU is earmarked for climate action, underscoring the EU’s commitment to environmental sustainability.[1]
  • Biodiversity Protection: Emphasis is placed on biodiversity protection, recognizing the urgent need to preserve and restore ecological balance.[1]
  • Gender Mainstreaming: Gender mainstreaming emerges as a core principle, ensuring that policies and initiatives integrate gender perspectives to foster inclusivity and equality.[1]

Driving Recovery and Transformation

The long-term budget and NextGenerationEU collectively inject a monumental €1.8 trillion into Europe’s recovery efforts. Beyond mitigating the immediate impacts of the pandemic, these financial frameworks pave the way for a resilient, sustainable, and digitally empowered Europe, poised to tackle future challenges with vigor.[5]

All on Horizon Europe

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