The EU Council has given its final approval to three legislative acts concerning the revision of the EU’s multiannual financial framework (MFF) for 2021-2027. This decision marks a significant step forward in reinforcing the EU’s long-term budget and addressing new challenges, particularly those arising from Russia’s aggression against Ukraine. The revised MFF reflects agreements reached by EU leaders in February 2024 and directs €64.6 billion in additional funding to key priority areas. This funding aims to address emerging challenges facing the EU and fulfil legal obligations that cannot be accommodated within current budgetary limits.

Key allocations from the revised MFF package include:
• €50 billion for the Ukraine Facility (comprising €17 billion in grants and €33 billion in loans)
• €2 billion for migration and border management
• €7.6 billion for international aid
• €1.5 billion for the European Defence Fund under the new Strategic Technologies for Europe Platform (STEP)
• €2 billion for the flexibility instrument
• €1.5 billion for the Solidarity and Emergency Aid Reserve

To mitigate the impact on national budgets, €10.6 billion of this funding will be covered by budgetary redeployments.

The Ukraine Facility will serve as a dedicated instrument to support Ukraine’s recovery, reconstruction, and modernization efforts, while also assisting with necessary reforms for EU accession. Additionally, the STEP initiative will mobilize investments in critical technologies, aiming to strengthen the EU’s sovereignty and long-term competitiveness in fields such as digital, cleantech, and biotech.

These legislative acts will soon be signed and published in the EU Official Journal, with changes to the MFF framework applying retroactively from January 1, 2024. The Ukraine Facility and STEP regulations will come into force shortly after publication.

Further information can be found on the European Council’s website.

To learn more about current calls for proposals or Eurodiaconia’s funding events, please don’t hesitate to get in touch with our Projects and EU Funding Officer Giorgia Signoretto at giorgia.signoretto@eurodiaconia.org and our Research and Projects Assistant Alice Widerberg at alice.widerberg@eurodiaconia.org.