European competitiveness fund

The European competitiveness fund (ECF), proposed by the European Commission under the EU's 2028 2034 multiannual financial framework (MFF), builds on the Letta and Draghi reports and subsequent 2025 competitiveness compass roadmap to boost EU competitiveness. The ECF aims to support sectors critical to EU competitiveness, simplify procedures and coordinate funding. The proposal groups 14 existing funds, totalling €400 billion or 22 % of the future MFF. The ECF would enhance the competitiveness of strategic sectors and technologies, ensuring 'a seamless investment journey from research to start-up, scale up, deployment and global manufacturing'. It would also mobilise the EU financial toolbox (including loans, grants, equity, quasi-equity, blending, procurement and guarantees) and provide advisory support to firms.