This Framework will provide a long term budget of 1074.3 billion euros of which 5.4 billion will be dedicated to LIFE+ programme
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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.