The European Parliament has thrown its weight behind two new funds in the next seven-year EU budget, which is being designed to stimulate the continent’s economy.
The €11.5-billion European Defence Fund was approved by the entire Parliament in a vote on 13 December. It will offer competitive project grants for industrial defence research, favouring cross-border alliances between small and medium-sized businesses.
Projects must include organisations from at least three member states, and 5 per cent of the fund is ring-fenced for “disruptive technology”.
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