News17 June 2020Brussels, BelgiumResearch and Innovation
Commission updates Horizon 2020 Work Programme to support coronavirus research and innovation
The Commission is delivering on its pledge to invest €1 billion from the EU’s Horizon 2020 programme into coronavirus research and innovation, made at the launch of the Coronavirus Global Response initiative on 4 May. Today, it amended the current Horizon 2020 work programme to confirm this commitment.
Mariya Gabriel, Commissioner for Innovation, Research, Culture, Education and Youth, said:
“Europe is leading the global response to tackle the coronavirus pandemic and its social and economic impact. Research and innovation is at the core of our coordinated response, and Horizon 2020 has proven its value as a flexible instrument to address this crisis. The €1 billion in funding is already boosting efforts to find solutions to test, treat and prevent coronavirus for all.”
The Work Programme update makes it possible to use €641 million, which is already part of the €1 billion pledge, through internal budget redeployment within Horizon 2020. It uses budget not yet allocated in the Horizon 2020 work programmes as well as reflows from financial instruments.
Key actions enabled today include:
€400 million under Access to Risk Finance for InnovFin Infectious Diseases Financial Facility, implemented by the European Investment Bank (EIB). This will enable the EIB to fund pre-commercial stage investments in the area of infectious diseases.
€172 million to fund additional research and innovation actions on the coronavirus pandemic and to extend promising projects already underway.