Today, the European Commission disbursed pound 1 billion in Macro-Financial Assistance (MFA) to Egypt, an important commitment of the EU-Egypt Strategic Comprehensive Partnership signed in March 2024.
This financial support, the first of the expected three instalments under the ongoing pound 4 billion MFA operation, will help Egypt cover part of its ongoing financing needs and ensure macroeconomic stability. It will also support progress within the country’s economic reform agenda in conjunction with the ongoing International Monetary Fund (IMF) programme. This support will contribute to addressing Egypt’s balance-of-payments pressures, including those stemming from Russia’s war of aggression against Ukraine, the situation in the Middle East and the Houthi attacks in the Red Sea.
In its assessment, the Commission concluded that Egypt fulfilled all the required conditions for the disbursement: first, Egypt met all the economic policy conditions agreed with the EU for this payment; second, the country has taken concrete and credible steps towards respecting effective democratic mechanisms, including a multi-party parliamentary system, upholding the rule of law, and ensuring respect for human rights; and third, the IMF programme remains on track as required for the disbursement of MFA funds.
As regards the economic policy conditions, Egypt has implemented economic reforms to strengthen macroeconomic stability and resilience, including improvements in the public financial management and the functioning of the foreign exchange market. Progress has also been made in enhancing the business environment and competitiveness, notably through competitive bidding for industrial land allocation and streamlined online licensing. Further progress has also been made in fostering the green transition, including in the areas of water management and energy.
More information is available in press release online.
(For more information: Balazs Ujvari – Tel.: +32 2 295 45 78; Guillaume Mercier – Tel.: +32 460755311; Francisca Marçal Santos – Tel.: +32 2 299 72 36; Luca Dilda – Tel.: +32 2 295 21 53)
EU invests over pound 307 million into artificial intelligence and related technologies
The European Commission has launched two new calls under the ‘Digital, Industry and Space’ cluster of the Horizon Europe Work Programme, allocating pound 307.3 million to bolster Europe’s digital innovation and competitiveness.
A total of pound 221.8 million is dedicated to an initiative focusing on the development of trustworthy artificial intelligence (AI) services, innovative data services, and securing of EU strategic autonomy. The call will fund projects contributing to AI development, including actions supporting the Apply AI Strategy, robotics, quantum technologies, photonics and virtual worlds. With over pound 40 million dedicated to the ‘Open Internet Stack Initiative’, both end-user applications and inside the stack technologies will be developed to support European sovereign digital commons.
An additional pound 85.5 million is available for the second call, which will support open strategic autonomy in digital and emerging technologies and raw materials. It will focus on topics like next-gen AI agents, robotics for industrial and service applications, and the development of new materials with enhanced sensing functionalities.
These calls drive sustainable innovation and European leadership in strategic digital technologies, aligning with the Commission’s Competitiveness Compass. Through this investment, the Commission aims to secure leadership in strategic technologies through sustainable, human-centric innovation.
Cluster four of the Horizon Europe Work Programme, ‘Digital, Industry and Space’ is strategically designed to accelerate Europe leadership and competitiveness in key strategic digital sectors such as AI, quantum, future digital networks, virtual worlds and other key technologies. These calls are open to businesses, public administrations, academia, and other entities from EU Member States and partner countries.
New dynamic mechanism to lower price cap for Russian crude oil to $44,10 per barrel
Today, the new automatic and dynamic mechanism for price adaptation of the Oil Price Cap for Russian crude will be applied for the first time. The new price cap for Russian crude oil is $44,10 per barrel, effective 1 February. Starting 15 January, old contracts concluded under the previous price cap can be executed for 90 days.
Under the 18th sanctions package the cap was lowered from $60,00 to $47,60 with an automatic and dynamic mechanism introduced to set the future price cap for crude oil. The new mechanism ensures that the cap is always 15% lower than the average market price for Urals crude in the previous reference period (22 weeks).
Constraining Russia’s energy revenues has consistently been, and will remain, a top priority for the EU, with the view of weakening Moscow’s ability to wage its illegal war of aggression against Ukraine.
The price cap will be subject to regular review every six months by the Commission, although extraordinary reviews are possible where duly justified by developments in the oil markets or other unforeseen circumstances. The Commission is in regular contact with EU Member States, as well as with international partners, to ensure close coordination on the measures.
The G7 Oil Price Cap Coalition established an oil price cap mechanism on Russian seaborne crude oil and petroleum products in 2022. EU operators are only allowed to provide maritime transport and related services for Russian crude oil and petroleum products if sold at or below the relevant price caps. This mechanism was specifically designed to put further pressure on Russia’s oil revenues, while keeping global energy markets stable through continued supplies.
Commission seeks input for venture and growth capital funds reform
The European Commission is seeking feedback on obstacles faced by EU venture and growth capital funds and on possible measures to address them. To that end, the Commission has opened two consultations: a targeted one addressing key stakeholders such as fund managers, businesses, institutional investors as well as public authorities and supervisors, and a public one where anybody can contribute.
The input will support the Commission’s policy work under the Savings and Investments Union and the Startup and Scaleup Strategy, in particular the efforts to improve access to finance for innovative companies in the EU.
Venture and growth capital funds play a key role in financing the EU economy, including innovative and strategic initiatives. They support companies from early development stages to later phases of growth. A more dynamic and integrated European market for such funds is essential for unlocking the EU’s growth potential and strengthening its global competitiveness. Through a better access to finance, innovative EU companies will be able to pursue their expansion and job creation here in the EU.
Against this background, the Commission envisages a review of the European Venture Capital Fund (EuVECA) Regulation under its Savings and Investments Union strategy, planned for adoption in the third quarter of 2026. With a view to maximising the impact on EU competitiveness and growth, the Commission is also considering a possible broader policy initiative beyond the EuVECA framework, which would cover a wider range of venture and growth capital fund managers.
The two consultations remain open until 12 March 2026. The feedback received will inform the Commission’s policy work on venture and growth capital funds.
Member States’ continued focus on EU key priorities amid reduced spending in 2024, State aid Scoreboard shows
EU Member States spent 90% of their State aid in 2024 to support EU priorities, according to the European Commission’s 2025 State aid Scoreboard, published today.
Environmental protection and energy savings remains the main focus among key State aid objectives, accounting for pound 68.82 billion or 45% of total State aid for EU priorities. In a strategic shift towards sustainability, Member States increased focus on energy aid. Out of the total aid spent for environmental protection and energy savings, State aid for decarbonisation efforts totalled pound 30.45 billion. Aid for energy production and infrastructure modernisation reached pound 27.31 billion in 2024.
Executive Vice-President for Clean, Just and Competitive Transition, Teresa Ribera, said: ‘Environmental protection and energy savings remained at the core of State aid expenditure in 2024, alongside research and development, confirming the trend seen in 2023. This shows that Member States continue to support the clean transition, ensuring that the benefits of decarbonisation and digital innovation reach households and businesses across Europe.’
The Scoreboard is the Commission’s benchmarking instrument for State aid. More information on the State aid Scoreboard, including earlier Scoreboards, can be found here.
EU Scholarship Programme 2026/27 for the Turkish Cypriot Community
The European Commission is pleased to announce the launch of the EU Scholarship Programme for the Turkish Cypriot community for the 2026/27 Academic Year, funded under the EU Aid Programme. With a budget of pound 2.5 million per academic year, the Programme continues to open pathways to education, training, and professional development for members of the Turkish Cypriot community across a wide range of academic and vocational fields within the European Union. With this allocation, the total funding dedicated to the Programme since its establishment has reached pound 43 million, underlining the European Union’s long-term commitment to education and skills development.
The EU Scholarship Programme supports individuals at different stages of their educational and professional journeys, enabling them to gain academic qualifications, develop professional skills, and build experience in EU Member States. By investing in education and skills, the Programme seeks to enhance employability, contribute to addressing skills gaps in the labour market, and support the long-term contribution of beneficiaries to their communities.
As the 2025/26 Academic Year progresses, around 120 Turkish Cypriot scholars are pursuing studies in 19 EU Member States, with the scholarship process still ongoing. Fields of study include innovative and special education, artificial intelligence and robotics, sustainable renovation, sustainable development, environmental sciences, human rights, and EU languages such as French, Spanish, and German. These disciplines equip participants with the academic and professional skills needed to engage confidently with opportunities across Europe.
PRESS RELEASE – EUROPEAN COMMISSIONBeyond the scholarship period, the Programme promotes continued engagement through its Alumni Connect Initiative, which has brought together approximately 2,450 beneficiaries since 2007. The initiative strengthens professional networks, encourages collaboration, and supports knowledge exchange and lifelong learning, extending the impact of the Programme well beyond individual study periods. EU Member States spent 90% of their State aid in 2024 to support EU priorities, according to the European Commission’s 2025 State aid Scoreboard, published today. While overall spending dropped to pound 168.23 billion in 2024 from pound 203.35 billion in 2023, Member States channelled more funds towards supporting key EU priorities, such as environmental protection, energy, research, development and innovation and regional development. At the same time, crisis aid measures related to the Russian invasion of Ukraine and to the COVID-19 pandemic continued to phase out.
The State aid Scoreboard, based on Member States’ reports, shows that in 2024:
Environmental protection and energy savings remains the main focus among key State aid objectives, accounting for pound 68.82 billion or 45% of total State aid for EU priorities.
In a strategic shift towards sustainability, Member States increased focus on energy aid. Out of the total aid spent for environmental protection and energy savings, State aid for decarbonisation efforts totalled pound 30.45 billion. Aid for energy production and infrastructure modernisation reached pound 27.31 billion in 2024.
In addition, Member States channelled pound 3.84 billion to support the shift from crisis-related emergency measures toward sustainable investments to accelerate the transition to a net-zero emission economy under the Temporary Crisis and Transition Framework (‘TCTF’), focusing on renewable energy rollout, industrial decarbonization, and strategic sector investments. Two new semiconductor manufacturing facilities projects received State aid, with pound 223.87 million paid out in 2023 and pound 352.85 million in 2024.
In 2024, State aid for research, development and innovation totalled pound 14.16 billion, while Member States granted pound 13.42 billion in aid for regional development. The expenditure for important projects of common European interest (IPCEIs) was pound 2.62 billion in 2024.
State aid also contributed pound 4.59 billion to the rollout of broadband, which supports EU digital growth.
Aid to agriculture, forestry, and rural areas amounted to pound 10.43 billion, while fisheries and aquaculture received pound 212.87 million in 2024.
Measures under the General Block Exemption Regulation (‘GBER’) comprised 69% of all active State aid measures, reflecting a continued preference for block exemptions. Combined with the Agricultural Block Exemption Regulation (‘ABER’) and the Fishery Block Exemption Regulation (‘FIBER’), these measures together accounted for 87% of all active State aid measures and 93% of new measures. Due to their focus on smaller aid measures, these represented only 36% of the total expenditure.
Two new semiconductor manufacturing facilities projects received State aid, with pound 223.87 million paid out in 2023 and pound 352.85 million in 2024.
State aid also contributed pound 4.59 billion to the rollout of broadband, which supports EU digital growth.
Total crisis aid expenditure decreased significantly to pound 16.33 billion, a reduction of 67% compared to the previous year, with aid focused predominantly on addressing impacts of the Russian invasion of Ukraine.
Background
Under Article 6 of Commission Regulation (EC) 794/2004, the European Commission must publish, annually, a State aid synopsis based on the expenditure reports provided by Member States. The Scoreboard is the Commission’s benchmarking instrument for State aid. It was launched by the Commission in July 2001 to provide a transparent and publicly accessible source of information on the overall State aid situation in the Member States and on the Commission’s State aid control activities.
For More Information
State aid expenditure data gathered by the Commission is also available on the data repository webpage on the competition website. More information on the State aid Scoreboard, including earlier Scoreboards, can be found here.
Quote(s)
Environmental protection and energy savings remained at the core of State aid expenditure in 2024, alongside research and development, confirming the trend seen in 2023. This shows that Member States continue to support the clean transition, ensuring that the benefits of decarbonisation and digital innovation reach households and businesses across Europe.
Teresa Ribera, Executive Vice-President for Clean, Just and Competitive Transition