Multiannual Financial Framework

Multiannual Financial Framework: political agreement reached

On 27th June, the President of the European Parliament and the President of the Council, with the support of the European Commission have reached an agreement on the European Union’s future budget, the Multiannual Financial Framework, with an amount of €960bn for the next seven years 2014-2020 including:


– € 6 billion Youth Guarantee to tackle youth unemployment

– € 16 billion Erasmus+ programme for education and training

– € 360 billion on a reformed Common Agricultural Policy (CAP)

– € 70 billion Horizon2020 programme for research and innovation

– € 30 billion for the Connecting Europe Facility (CEF) targeting enhancements in transport, energy and telecoms networks

– € 2 billion for the COSME programme to boost competitiveness of the EU’s 20million SMEs

– € 3 billion for the LIFE programme to fund projects in the environmental area.


Up to EUR 2 543 million may be used in 2014 and 2015, as part of the annual budgetary procedure, for specified policy objectives relating to youth employment, research, ERASMUS in particular for apprenticeships, and SMEs.

The Institutions agreed to use this amount as follows: 2 143 million for Youth Employment, 200 million for Horizon 2020, 150 million for Erasmus and 50 million for COSME.


The European Council, meeting in Brussels the 27-28 June, welcomed the agreement reached on the EU’s Multiannual Financial Framework (MFF) for the coming seven years and called for the rapid formal adoption of the MFF Regulation and the associated Interinstitutional Agreement.


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