The European Commission proposed a 2016 EU budget of EUR 143.5 billion in payment credits to support the recovery of the European economy and help improve lives in Europe and beyond.
The proposal also includes contributions to the European Fund for Strategic Investment (EFSI), which is at the heart of the Investment Plan for Europe. The draft will be sent to the European Parliament and EU Member States who will jointly decide on the final budget.
The money will be invested to boost innovation, create jobs, help convergence among Member States and among regions, deal more effectively with migration and further strengthen the role of the EU as a global player.
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