EU to Invest $10 Billion for Research to Solve Environmental Problems

The European Commission will invest almost €7 billion ($10.1 billion) in innovation-focused research through 2013. The research package is known formally as the European Union’s Seventh Framework Programme for Research (FP7). The commission expects FP7 to create around 174,000 jobs in the short-term and nearly 450,000 jobs and nearly €80 billion in GDP growth over 15 years. FP7 runs from 2007 through 2013. With a total budget of more than €53 billion it is the world’s largest research funding program. The commission intends FP7 to...

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