Pan European Fund

[Jule Kue]

The2024 EDF Work Programme addresses 32 call topics in total, structured along 6 thematic calls for proposals, 2 non-thematic calls for proposals and 2 actions in support of the Alliance for Defence Medical Countermeasures.

It will support projects in critical defence domains, such as countering hypersonic missiles, developing a broad range of unmanned vehicles in the air and on the ground, as well as secure space communication. It also prepares the ground for next generation defence systems, such as helicopters and mid-size cargo aircraft.

EUDIS will continue to fund the organisation of annual defence hackathons, as well as business coaching for SME beneficiaries and the Defence Equity Facility under InvestEU. The novelty for 2024 is the foreseen funding for a EUDIS Business Accelerator and Matchmaking with investors (call for tender expected to be published in spring 2024).

Applying for funding requires the creation of a consortium consisting of at least three Member States or associated countries (currently only Norway). Calls for disruptive technologies allow smaller consortia (at least two entities from two Member States or associated countries).

They should not be controlled by a non-associated third country, with exceptions possible through approved guarantees. Entities from non-associated third countries can participate, but under conditions ensuring the EU security and defence interests, without receiving EDF funding.

Explore the Open Architecture Guarantees in the list below. More guarantees are underway to reach a total of 40 by the end of 2024. We encourage private investors to get involved by getting in touch with the implementing partners using the provided contact information.

The initiative with KfW will increase economic resilience in Africa by enhancing access to long-term financing in local currency for African businesses which is crucial for promoting development in key sectors such as affordable housing, renewable energy, agriculture, health and education.

The CITYRIZ guarantee with Agence Franaise de Dveloppement will enable local governments in Sub-Saharan Africa to undertake investments in sustainable public infrastructures and urban planning, essential for social basic services and local development.

FISEA Plus aims at accelerating the pace of fundraising by private equity funds by offering catalytic capital in Sub-Saharan Africa and in the southern Neighbourhood. The facility set up by AFD focuses on MSME, social and solidarity-based enterprises, start-ups specialising in digital innovation.

The MSME Platform guarantee managed by the European Development Finance Institutions Management Company aims to mobilise investments in micro-, small-, and medium-sized enterprises globally, supporting a strong economy in Sub-Saharan Africa and the European Neighbourhood.

Where projects have a public value-added that is not monetarised and that guarantees cannot address, the EU will use EFSD+ blending facilities. These facilities use grants and loans to support non-bankable investment projects in EU partner countries while enhancing their sustainability, climate-proofing and development impact. Combining EU financial support with loans or equity from public and private financiers, blending can be used in a strategic way to attract additional financing.

This is NextGenerationEU. This is more than a recovery plan. It is a once in a lifetime chance to emerge stronger from the pandemic, transform our economies, create opportunities and jobs for the Europe where we want to live. We have everything to make this happen.

The rest of the funds from NextGenerationEU are being disbursed to EU Member States by several EU programmes: the Recovery Assistance for Cohesion and the Territories of Europe (REACT-EU), Horizon Europe, InvestEU, European Agricultural Fund for Rural Development or the Just Transition Fund (JTF).

The EU budget is not and has never been about giving and taking. All Member States benefit from being part of the single market, addressing together the common challenges. EU funds, for instance under the cohesion funds or Horizon Europe, go to all corners of the EU.

In the interinstitutional agreement from December 2021, the European Parliament, the Council and the Commission agreed to work towards introducing sufficient new own resources to cover the repayments of NextGenerationEU.

In December 2021, the Commission thus proposed three new sources of revenue to the EU budget, to help repay the grants part of NextGenerationEU. This proposal would also contribute to the financing of the Social Climate Fund, aimed to make sure the transition to a decarbonised economy leaves no one behind.

On 20 June 2023, the Commission completed its proposal for a next generation of own resources. The final package includes a new temporary statistical own resource based on company profits. Following the political agreement on the Fit For 55 package, which seeks to make sure EU policies contribute to the climate neutrality of our continent, the Commission has also adjusted the own resources proposals based on the Emissions Trading System (ETS) and Carbon Border Adjustment Mechanism (CBAM) compared to the original proposals from December 2021.

On 27 May 2020, in response to the unprecedented crisis caused by the coronavirus, the European Commission proposed the temporary recovery instrument NextGenerationEU, as well as targeted reinforcements to the long-term EU budget for 2021-2027.

The European Fund for Southeast Europe (EFSE) is an impact fund that takes a comprehensive approach to fostering economic development and prosperity in Southeast Europe and the EU Eastern Neighbourhood Region.

By investing in local financial infrastructure that provides dedicated financing to micro, small and medium enterprises, the fund supports the backbone of these regions' economy. What is more, EFSE helps create the conditions for local businesses to thrive by building the capacity of local financial institutions or facilitating knowledge-sharing through its Development Facility, and by providing on-the-ground training and mentorship through its Entrepreneurship Academy. In this way, the fund aims to achieve impact on both an individual and systemic level.

EFSE's mission is to foster economic development and prosperity in Southeast Europe and the EU Eastern Neighbourhood Region by supporting the success of micro, small and medium enterprises (MSMEs) and improving living conditions for households.

That is why EFSE invests in the ability of local financial infrastructure to supply the resources entrepreneurs and families need to thrive. By enabling these groups' access to responsible financing, EFSE strives for long-term, systemic impact.

The fund's investment activities are complemented by the nonfinancial support of the EFSE Development Facility, which builds capacities, facilitates knowledge exchange, and nourishes an environment for entrepreneurs to grow.

Rural development is the 'second pillar' of the common agricultural policy (CAP), reinforcing the 'first pillar' of income supports and market measures by strengthening the social, environmental and economic sustainability of rural areas.

The rules for rural development spending during 2021-22 are laid out in the CAP transitional regulation, adopted on 23 December 2020. The regulation largely extends the existing rules (initially in place for the 2014-20 period), with some additional elements to ensure a smooth transition to the new CAP, which began in 2023.

EU countries implement EAFRD funding through rural development programmes (RDPs). RDPs are co-financed by national budgets and may be prepared on either a national or regional basis. While the European Commission approves and monitors RDPs, decisions regarding the selection of projects and the granting of payments are handled by national and regional managing authorities.

The EAFRD priorities are in turn broken down into 18 specific focus areas. In their programmes, countries set out targets relating to their chosen priorities and focus areas, as well as a strategy for meeting their targets.

At least 30% of funding for each RDP must be dedicated to measures relevant for the environment and climate change, much of which is channelled through grants and annual payments to farmers who switch towards more environmentally friendly practices.

Rural development programmes can also support the smart villages initiative, which aims to provide a versatile toolbox to foster, enable and scale up innovation in rural areas around Europe, addressing the common challenges faced by citizens living in rural territories.

Through financial instruments, the EAFRD acts as a source for loans, microcredit, guarantees and equities, available to recipients in agriculture, forestry and rural areas who are undertaking financially viable projects that support the priorities of the EAFRD. Fi-Compass includes further information on EAFRD financial instruments.

It serves as a forum for discussion and exchange of good practices on the implementation of the CAP for a wide variety of stakeholders, including Member State administrations, agricultural producers, evaluators, local action groups, European-wide organisations, farm advisory services providers, innovation support services and more.

The EU CAP Network provides a broad range of activities and information on the implementation of the CAP Strategic Plans across the EU, including a collection of good practices, events and publications.

LEADER is a 'bottom up' approach, in which farmers, rural businesses, local organisations, public authorities and individuals from different sectors come together to form local action groups (LAGs). LAGs prepare their own local development strategies and manage their own respective budgets.

Thanks to its success over 30 years, the LEADER approach has been adopted by the European regional development Fund (ERFD), the European social fund (ESF) and the European maritime and fisheries fund (EMFF) as part of wider community led local development (CLLD). Today LEADER / CLLD groups manage tens of thousands of projects with economic, cultural, social and environmental benefits in rural Europe.

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