European Green Deal: EU Modernization Fund invests EUR 2.4 billion to accelerate ecological transition in seven EU countries
The European Union's Modernization Fund today disbursed €2.4 billion to 31 projects in seven beneficiary countries to help modernize their energy systems, reduce greenhouse gas emissions in energy, industry and transport and improve energy efficiency. This is the largest joint disbursement of funds to support Europe's ecological transition. These investments help these member states reduce their dependence on Russian fossil fuels, meet their 2030 climate and energy targets, and contribute to the EU's long-term commitment to climate neutrality by 2050.