EU Parliament Allocates 13 Billion Euros for Strategic Technologies: Boosting Europe’s Independence and Economic Growth

2023-10-17 16:10:00

The members of the EU Parliament in Strasbourg spoke out on Tuesday in favor of a new funding platform through which EU funds amounting to 13 billion euros will flow into so-called strategic technologies. The additional investments are intended to make the EU more independent of third countries in strategically important economic areas.

This is crucial to strengthening Europe geopolitically, explained the conservative rapporteur in the EU Parliament, José Manuel Fernandes. The funds are intended to support the development and production of green and digital technologies in Europe and combat the shortage of skilled workers.

“The Commission is trying to square the circle,” explained the chairman of the European Parliament’s Industry Committee, Christian Ehler (CDU). The Commission had originally planned a larger fund for strategically important technologies. MEPs called on the Commission to make a proposal for such a fund by the end of 2025.

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