• Research , Student

European Commission keen to hike up budget for research and Erasmus+

If the European Commission has its way, the EU budget for research and innovation will rise considerably. The EU Commission also wants to increase its focus on young people and is making no less than 30 billion euro available for the Erasmus+ exchange program. This is a doubling of the present budget.

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photo iStockphoto

Yesterday in Brussels, President of the Commission Jean-Claude Juncker and Budget Commissioner Günther Oettinger presented the budget proposal for the period 2021 through 2027.

While many areas are facing cutbacks, the money going to research and innovation is set to rise. In total the planned budget for research and innovation amounts to 114.8 billion euro. Of this sum, 97.9 billion euro is earmarked for the research program named Horizon Europe, the successor to the current Horizon2020 program.

Through to the end of 2027, the new research program will receive 18 billion euro more than its predecessor Horizon2020, making it the largest research and innovation program in history, says the Commission. Information about the program's content will be released in June.

The generous budget is necessary, says the Commission, if the EU wants hold its own in the face of competition from China and the US.

Photo | iStockphoto - Sergey Khakimullin

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