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Multiannual financial framework for the years 2021 to 2027

TA-9-2024-0081 · P9_TA(2024)0081 · PE758.992

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Parliament gives its consent to a draft Council regulation amending the multiannual financial framework (MFF) for 2021 to 2027, and approves a joint declaration on re-using decommitted research funds. The amended regulation revises the MFF ceilings for Headings 1 to 6 for 2024 to 2027, adjusts the payment capping for the Single Margin Instrument in 2026, and changes the programme-specific adjustment total. It creates a Ukraine Reserve of up to EUR 17 000 million for 2024 to 2027, with an annual cap of EUR 5 000 million, and extends the Union budget guarantee for loans to Ukraine up to EUR 33 billion until 2027. It creates an exceptional and temporary EURI Instrument to cover interest and coupon payment overruns on NextGenerationEU borrowing above set amounts for 2025, 2026 and 2027. It splits the Solidarity and Emergency Aid Reserve into a European Solidarity Reserve and an Emergency Aid Reserve, reinforces the Flexibility Instrument, and modifies amounts for the Brexit Adjustment Reserve and the European Globalisation Adjustment Fund. The regulation enters into force on the day of publication and applies retroactively from 1 January 2024.

Key points

  1. Parliament gives its consent to the draft Council regulation amending Regulation (EU, Euratom) 2020/2093 and approves the annexed joint declaration by Parliament, the Council and the Commission.
  2. The expenditure ceilings in commitment appropriations for Headings 1, 2, 3, 4, 5 and 6 are modified for 2024, 2025, 2026 and 2027; payment appropriations ceilings stay at current levels.
  3. The capping in payment appropriations for the Single Margin Instrument for 2026 is adjusted, and the total amount of additional allocations under the programme-specific adjustment is modified.
  4. The Union budget guarantee for financial assistance to Ukraine is extended until 2027, covering loans of up to EUR 33 000 million in current prices, mobilised over and above the MFF ceilings.
  5. A new Ukraine Reserve is created for non-repayable support and provisioning of budgetary guarantees, capped at EUR 17 000 million for 2024 to 2027 and at EUR 5 000 million per year, with unused annual amounts usable in later years.
  6. A new EURI Instrument is created to cover interest and coupon payment costs on NextGenerationEU borrowing above EUR 2 332 million in 2025, EUR 3 196 million in 2026 and EUR 4 168 million in 2027.
  7. The EURI Instrument is mobilised only if necessary, after seeking other financing, with a benchmark of about 50 % of the cost overruns, and draws first on decommitted appropriations since 2021.
  8. The Solidarity and Emergency Aid Reserve is split into a European Solidarity Reserve, capped at EUR 1 016 million per year, and an Emergency Aid Reserve, capped at EUR 508 million per year.
  9. The Flexibility Instrument is reinforced: its annual ceiling is EUR 915 million for 2021 to 2023 and EUR 1 346 million for 2024 to 2027, increased each year by lapsed amounts from the two reserves.
  10. The European Globalisation Adjustment Fund is capped at EUR 30 million per year, and the Brexit Adjustment Reserve is capped at EUR 4 491 million.
  11. The regulation enters into force on the day of its publication in the Official Journal and applies from 1 January 2024.
  12. Parliament, the Council and the Commission agree that a further EUR 100 million in decommitted research funds will be made available again for the research programme in 2025 to 2027.

Who is affected

  • Ukraine: support through loans, non-repayable aid and budgetary guarantees under the Ukraine Facility until 2027.
  • Member states and third countries affected by natural disasters or humanitarian crises: support from the European Solidarity Reserve and Emergency Aid Reserve.
  • The EU budget: funding costs for NextGenerationEU borrowing covered by the new EURI Instrument.
  • The research programme: re-use of decommitted funds worth up to EUR 0.5 billion plus a further EUR 100 million.

Figures and deadlines

  • EUR 33 billion: amount of loans for Ukraine covered by the Union budget guarantee.
  • EUR 33 000 million in current prices: overall amount of loans for financial assistance to Ukraine for 2024 to 2027.
  • EUR 17 000 million in current prices: maximum amount of the Ukraine Reserve for 2024 to 2027.
  • EUR 5 000 million in current prices: maximum annual amount mobilised under the Ukraine Reserve.
  • EUR 2 332 million (2025), EUR 3 196 million (2026) and EUR 4 168 million (2027): interest and coupon payment amounts above which the EURI Instrument may be mobilised (in 2018 prices).
  • EUR 1 016 million (in 2018 prices): maximum annual amount of the European Solidarity Reserve.
  • EUR 508 million (in 2018 prices): maximum annual amount of the Emergency Aid Reserve.
  • EUR 915 million (2021-2023) and EUR 1 346 million (2024-2027) in 2018 prices: annual ceilings for the Flexibility Instrument.

Legal basis: Article 312(2) of the Treaty on the Functioning of the European Union.