The framework for the 2021-2027 budget was developed by the European Commission and the Union, taking into account the economic and health realities of the 2020s. The budget addresses challenges such as staying at the forefront of emerging technologies, dealing with climate and health crises, and more. This paper will highlight the areas that the EU is prioritizing through its competitive funding programmes, Cohesion Policy, and its funding for third countries.
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The European Union (EU) offers a range of funding programmes with competitive funding mechanisms, primarily aimed at promoting innovation and addressing key societal challenges.
The EU has research and development-oriented programmes geared towards nuclear research, defence technology, and projects related to climate change and sustainable development. The EU offers funding for programmes that align with the objectives of the European Green Deal, and focus on promoting eco-innovative techniques and approaches, implementing EU legislation, and creating policies to support the development, monitoring, and enforcement of solutions in EU member states. Additionally, the EU supports programmes that aim to promote and defend European values, justice, equality, non-discrimination, citizens’ participation, and combat violence against women, girls, LGBTIQ, and disabled people.
In addition to competitive funding mechanisms, the EU also provides funding through the Cohesion Policy. In 2020, the European Commission proposed new regulations aimed at simplifying procedures and increasing the effectiveness of EU investments. Local and regional initiatives receive funding for investment in jobs and growth, European territorial cooperation, and support for territories most affected by the transition towards climate neutrality. This new policy aims to provide support to all regions and cities within the European Union and prioritizes investment in key areas that will drive growth and improve quality of life for citizens.
While Norway, Switzerland, and the UK are not members of the European Union, they are able to participate in specific EU funding programmes. Pre-accession countries, however, have access to a more specific and comprehensive range of EU funding compared to other countries. These funds and technical assistance are provided to support compliance with the EU’s laws, institutions, and policies across various areas, including rule of law, economic governance, human rights, infrastructure, and development. The allocation of funds is determined based on a country’s requirements and priorities, as well as its progress towards EU membership.
The European Union has developed a comprehensive framework for its 2021-2027 budget, which aims to address various economic, societal and health challenges. Overall, the EU’s funding initiatives reflect its commitment to promoting innovation, addressing societal challenges, and supporting economic growth and development.
Register to view and download the entire White Paper, "EU Funding Instruments in the Multiannual Financial Framework 2021-2027," and additional resources.