EU invests €670 million in circular economy

October 14, 2015

The €670 million ($764 million) amount is intended for research and innovation over the next two years, and forms part of the larger Horizon 2020 research programme launched in January 2014.

The Horizon 2020 fund is for almost €16 billion ($18 billion), with £750 million ($1.15 billion/€1 billion) going towards modernising Europe’s manufacturing industry and £174 million ($267 million/€234 million) being invested in smart and sustainable cities, Materials Recycling World reported.

The Work Programme 2016-2017 was also adopted today, which hopes to ensure money is available for innovative enterprises, with support from the European Fund for Strategic Investments. More than £555 million ($852 million/€746 million) for research and innovation in nearly 2,000 SMEs has been made available, offering funding opportunities for proposals, public procurements and other actions, with almost 600 topics covered.

Horizon 2020 is to invest £58 billion ($89 billion/€78 billion) over seven years in the projects.

Carlos Moedas, EU commissioner for Research, Science and Innovation, said: “Research and innovation are the engines of Europe’s progress and vital to addressing today’s pressing challenges like immigration, climate change, clean energy and healthy societies.”

Categories : World Focus

Tags : Business Environment EU