Meeting physically at a special summit in Brussels, on 21 July, the EU leaders agreed on an overall budget of €1824.3 billion. The new Multiannual Financial Framework (MFF) will cover seven years (2021-2027) and comprise an overall budget of €1,074.3 billion.
Next Generation EU
The European Commission’s proposal for a recovery plan of €750 billion in total.
Recovery and Resilience Facility (RRF): €672.5 Bn, of which €360 Bn loans and €312.5 Bn grants.
ReactEU: €47.5 billion
Horizon Europe: €5 billion
InvestEU: € 5.6 billion
Rural Development: € 7.5 billion
Just Transition Fund: €10 billion
RescEU: €1.9 billion
Horizon Europe research programme is now in line for €80.9 Bn (MFF + Recovery Fund), a sum significantly lower than the €94.4 Bn put forward by the European Commission in May and much lower than the €120 Bn budget the Europe Parliament called for last year.