In order to address the worsening economic situation, the European Commission presented an Recovery Plan on 26 November including short term measures, but also initiatives to support innovation and ways to increase private sector R&D investments.

The plan suggests partnerships between the public and the private sector and targets three industrial sectors: A “European green cars initiative” with a combined funding of at least €5 billion, a “European energy-efficient buildings initiative” worth €1 billion, and a “factories of the future initiative” estimated at €1.2 billion. The focus will be on enabling technologies, such as engineering technologies for adaptable machines and industrial processes, ICT and advanced materials.

Please find here the communication from the Commission to the European council,the approval of the European council, and a related press release.