Von der Leyen: New Digital Priorities for 2027
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Commission proposes to reinforce long-term EU budget to face most urgent challenges. A targeted revision of the Multiannual Finance Framework (MFF) is asked to equip the MFF with the means to ensure that the EU can meet its legal obligations and address the most urgent priorities. Among these, increased aid to Ukraine, refinancing of certain funds, coverage of higher interest rates, and a stronger push on digital technologies.
Brussels, 22 June 2023 – 3 MINUTES READ
Refinancing EU digital transition
Based on the provided information, the European Commission is proposing several initiatives in the field of digital technologies. Here are the key proposals:
- Strategic Technologies for Europe Platform (STEP): The Commission aims to establish the Strategic Technologies for Europe Platform to enhance the long-term competitiveness of the EU in critical technologies. This platform will focus on digital and deep tech, clean tech, and biotech. It will leverage existing instruments such as InvestEU, the Innovation Fund, the European Innovation Council (EIC), the European Defence Fund, and the Recovery and Resilience Facility, while introducing new flexibilities and incentives for cohesion funding. The goal is to foster investments in strategic industries and strengthen Europe’s leadership in these technologies.
- Funding for Critical Technologies: To support the development and manufacturing of critical digital and deep tech, clean tech, and biotech, the Commission proposes allocating an additional €10 billion to targeted programs. This includes €3 billion for InvestEU, €0.5 billion to Horizon Europe, €5 billion to the Innovation Fund, and €1.5 billion for the European Defence Fund. These investments, along with incentives from cohesion policy and the Recovery and Resilience Facility, are expected to generate approximately €160 billion in total investments by European businesses.
- One-Stop-Shop and Sovereignty Portal: The Commission plans to establish a new “One-Stop-Shop” and a dedicated online Sovereignty Portal to facilitate and support projects in STEP investments. These platforms will assist project promoters and EU countries in accessing funding from various EU funds.
The proposals also cover other areas beyond digital technologies:
- Support for Ukraine: The Commission proposes a dedicated facility to support Ukraine, with an overall capacity of €50 billion from 2024 to 2027. This facility will provide grants, loans, and guarantees to assist Ukraine with its immediate needs, recovery, and modernization efforts.
- Managing Migration and Strengthening Partnerships: To address internal and external migration challenges and strengthen partnerships with third countries, the Commission proposes an additional €2 billion for managing migration and border control. An increase of €10.5 billion is proposed for Heading 6 (Neighbourhood and the world) to respond to economic and geopolitical instabilities, and €2.5 billion is proposed to enhance the “Solidarity and Emergency Aid Reserve” for crisis response and natural disasters.
What next?
These proposals are part of the European Commission’s budget revisions and are subject to further consideration and approval by the European Parliament and EU Member States in the Council.
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