European Commission Allocates €12.9 Billion for Horizon Europe in 2024

The European Parliament and the Council of the EU reached an agreement over the budget for 2024 on 10 November 2023, allocating a total of €13.6 billion for research and innovation.

The proposed EU budget for 2024 ensures funding for next year, addressing the consequences of Russia’s aggression against Ukraine and the crisis in the Middle East. From supporting Europe’s economic recovery to making it greener and more resilient for the future, the budget focuses on the several needs and priorities of the EU and its neighbours. Amongst the identified priorities, research and innovation will receive a total funding of €13.6 billion, of which €12.9 billion will go to Horizon Europe, the European Union’s flagship research and innovation programme for the period 2021-2027, which aims at stimulating scientific excellence and driving economic growth and job creation by supporting a wide range of research and innovation activities.

The amount allocated for 2024 represents a significant increase from this year’s €12.4 billion after Parliament was able to defend against proposed cuts by the member states and get an extra top-up of €85 million for basic health and climate research. Despite the win, the European Parliament’s rapporteur for Horizon Europe Christian Ehler highlights that the “real needs of Horizon Europe are much greater” and that the allocated funding still does not meet the demand.”

You can find more details on how the budget allocated to Horizon Europe 2024 will be split here.

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ESEIA Team: office@eseia.eu