The European Commission proposed an EU budget of € 166.7 billion for 2021, to be complemented by a € 211 billion grant and approximately € 133 billion for Next Generation EU loans – the temporary instrument for recovery.
The budget proposal for the first year of Horizon Europe is 17.3 billion euros. The amount should help increase European support for health and climate research and innovation, of which € 5 billion is under the Next Generation EU program. This budget aims to mobilize significant investment in 2021 to address the immediate economic and social damage caused by the coronavirus pandemic.
