• H2020
• Policy & Research

The European Commission has announced details of next year’s annual budget for Horizon 2020.

The EU research and innovation framework programme will have access to funding of €10bn in 2016, an increase of 11.6% from 2015, which the EU executive body says will help increase competitiveness.

Also announced is €2bn in commitments and €500m in payments for the guarantee fund of the new European Fund for Strategic Investments (EFSI), to help unlock €315bn in investment for Europe. The EFSI Regulation, including the budgetary aspects of the new investment structure, is subject to ongoing negotiations between the European Parliament and the Council of the European Union.

The announcement from the Commission comes as the EU institution publishes details of the draft 2016 EU budget with a focus on jobs, growth, migration and global action. The budget is worth €143.5bn in payment credits to support the recovery of the European economy and help improve lives in Europe and beyond, according to the commission, with nearly half of all funding (€66.58bn) used to stimulate growth, employment and competitiveness.

Horizon 2020 had access to around €15bn during its first two years.