The 2021-2027 Multiannual Financial Framework adopted

The Multiannual Financial Framework for 2021-2027 has been adopted by the Council and the European Parliament. It will provide a long term budget of €1,074.3 billion for the EU27 in 2018 prices. With the Next Generation EU recovery instrument of €750 billion, the EU will provide €1.8 trillion of funding to support the recovery from the COVID-19 pandemic.

The financial framework will also give particular attention to green and digital transitions and will focus on modernising policies, notably cohesion policy and common agricultural policy. The LIFE+ programme is the most ambitious EU climate and environmental programme ever and the only programme at EU-level dedicated to the environment and climate It will receive 5.4 billion euros from the Multiannual Financial Framework 2021-2027 with 3.5 billion for environmental policies. The other €1.9 billion will be allocated to Climate Action projects which include climate change mitigation, adaptation and Clean Energy Transition projects.

This new Multiannual Financial Framework 2021-2027 also introduces the new Just Transition Fund to support the most vulnerable carbon-intensive regions in their transition towards a climate-neutral economy.

Source:https://www.consilium.europa.eu/en/press/press-releases/2020/12/17/multiannual-financial-framework-for-2021-2027-adopted/?utm_source=dsms-auto&utm_medium=email&utm_campaign=Multiannual+financial+framework+for+2021-2027+adopted