EU ministers have given final approval to reforms extending the EU’s Research Fund for Coal and Steel until 2034, with up to €120 million a year available for projects.
The programme is expected to amount to around €800 million in total investment over the period, the Council of the EU announced on Monday.
The fund supports research and innovation in the steel sector and backs a “green and just transition” in EU coal-mining regions.
Under the new legal framework, funding rates will be aligned with Horizon Europe — the EU’s main research funding programme — meaning industry participants can receive up to 70% EU funding, while small and medium-sized enterprises, start-ups and academic institutions can receive up to 100%.
Nicodemos Damianou, Cyprus’s Deputy Minister for Research, Innovation and Digital Policy, said the decisions would continue support for coal and steel research while contributing to the green transition.
When the changes will take effect
The reform package consists of two Council decisions — one covering how financial assets from the former European Coal and Steel Community (ECSC) are used to fund research, and another setting multiannual financial and technical guidelines for managing the fund’s assets, the Council said.
The decisions will be published in the Official Journal of the European Union and will enter into force 20 days after publication.
The Research Fund for Coal and Steel was established in 2002 after the expiry of the ECSC treaty and is financed by annual interest from remaining ECSC assets.
