The EU has its budget. It will finance 168.7 billion euros in projects next year. Nearly a quarter of the expenditures will be allocated to measures to combat climate change and to secure European borders.
The Member States and the European Parliament reached an agreement on Monday evening on a budget of 168.7 billion euros for the year 2020.
The European Parliament wrested an increase of 850 million euros from the Member States compared to the European Commission’s proposal to fund the fight against climate change, digitalization, and the Erasmus+ program for young people.
This agreement provides an indication for the ongoing negotiations for the EU’s 2021-2027 multiannual budget.
What does this agreement include?
Climate: Nearly a quarter of the expenditures in 2020 (21%) will be allocated to measures to fight climate change.
Innovation: Twenty-five billion euros will go to research and innovation within the bloc, notably for the Galileo satellite navigation program which aims to compete with the American Global Positioning System (GPS).
Migration: The budget provides 14 billion euros to fund security measures, humanitarian aid, and the strengthening of personnel and resources of the European Border and Coast Guard Agency (Frontex).
