15 Dec 2020
Provisional agreement reached on setting-up the European Defence Fund
On 14 December 2020, a provisional political agreement was reached on a regulation establishing the European Defence Fund (EDF). The new EDF will support collaborative actions and cross-border cooperation throughout the EU, at each stage of the industrial cycle relating to defence products and technologies. The programme addresses defence industries of all sizes, including SMEs and mid-caps, across the EU, thus strengthening and improving defence supply and value chains. Within the overall financial envelope of € 7.953 billion (in current prices), a budget of € 2.651 billion will be allocated to research and € 5.302 billion will be devoted to development actions. The EDF will, in particular, target breakthrough innovation with 5% of the funds allocated to disruptive technologies and innovative equipment.