Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL establishing the European Defence Fund
1. The European Commission proposes a new regulation establishing the European Defence Fund (EDF). The EDF is intended as an instrument to foster competition and innovation in the European defence technological and industrial base thereby contributing to the EU’s strategic autonomy. It aims to trigger cooperative programmes that would not happen without EU contribution and, by supporting research and development activities, to provide the necessary incentives to boost cooperation at each stage of the industrial cycle.
2. The EDF regulation brings together the Research (Preparatory Action in Defence Research) and Capability (European Defence Industrial Development Programme) “Windows” of the Fund into a single Regulation to provide financial support during the 2021-2027 Multi-Annual Financial Framework (MFF). Under the Regulation the Fund will have a budget of €13 billion over seven years (split €4.1 billion on research and €8.9 billion on capability). The aspiration is that the European Council and European Parliament will agree the Regulation by March 2019.