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EU unveils multi-billion research fund to boost economy

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Thursday, 29 July 2010

EU unveils multi-billion research fund to boost economy

The EU commissioner for research and innovation, Ireland's Máire Geoghegan-Quinn, announced yesterday (19 July) nearly €6.4 billion of investment in research and development to be spent by the end of 2011. The package, described as Europe's biggest ever investment drive in the sector, aims to increase European competitiveness and help tackle EU priorities such as climate change, energy, food security, health and the ageing population. "Investment in research and innovation is the only smart and lasting way out of crisis and towards sustainable and socially equitable growth. This European package will contribute to new and better products and services, a more competitive and greener Europe, and a better society with a higher quality of life," Geoghegan-Quinn said, arguing that the package will create more than 165,000 jobs.

Source: Euractiv