The REACT-EU scheme
The scheme with a total of EUR 47.5 billion aims to build a more sustainable, digital and resilient EU economy in the wake of the pandemic.
Funds for digitalisation, life sciences and climate protection
"I am pleased that we will be able to use these European funds to promote forward-looking projects from which Hamburg and its residents will benefit far beyond the end of the funding period," said Michael Westhagemann, Senator for Economics. The funds will go towards projects focusing on the intelligent use of energy in companies and will be available as venture capital for innovative startups. Funds will also be made available for life sciences, infection, pandemic control, and digitization.
Funds to strengthen Hamburg
"Important issues in future, from digitalisation to climate protection have lost none of their relevance as a result of the pandemic. At the same time, it is important to expand infection research in Hamburg, especially in view of the knowledge gained during the pandemic" said Katharina Fegebank, Senator for Science, Research and Equality." The EU funds will strengthen Hamburg's diversity and breadth as a centre of innovation in the long term, she added.