Reflecting the need to urgently tackle youth unemployment and strengthen research, the funding possibilities in 2014 will be increased by EUR 130 million for Erasmus+ (the EU support programme for education, training, youth and sport), by EUR 30 million for COSME (a new programme promoting entrepreneurship, in particular for small and medium enterprises) and by EUR 200 million for Horizon 2020 (the new programme for research and innovation).
"2014 will be the first year of the new MFF and I want the EU budget to boost troubled economies from day one", said EU budget Commissioner Janusz Lewandowski. "I therefore propose to put even more funds for science and research programmes and to support the companies. These changes will bring more jobs, especially for the young. I'm also glad to express Europe's solidarity with Cyprus to mitigate the impact of its painful adjustment through investing EUR 200 million more in its economy" – he added.