Considerable increase in EU research budget

The EU has agreed to increase funding for research through FP7 with 75 % by 2013. This means that the EU will spend ca. € 12.6 billion on research in 2013.
Following more than 30 hours of what Council President and UK Prime Minister Tony Blair described as ‘amazingly complicated negotiation‘, the agreement falls short of the doubling of the FP7 budget originally put forward by the Commission.

The Council also supported the Commission‘s proposal to establish a risk-sharing financing facility for R&D in cooperation with the European Investment bank, worth up to € 10 billion.

Read more on the website of CORDIS
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