With an aim to serve health and environment big, European Union Commissioner Ms. Máire Geoghegan-Quinn will soon announce about a new multi-billion euro funding program, which has been planned and organized to give a boost to the competitiveness in the health industry and also find quick solutions to major issues in the areas of health and the environment.

The efforts were initiated last year in the month of July with the announcements of the commissioner of a program that was estimated to cost approx €7bn with an aim to fund the health and the environment by creating more than
500,000 jobs over a 15-year period.

Almost €264m of that funding has been utilized by the Irish universities, research organizations and industry to complete the project.

Anticipations are being made that the EU Commissioner in charge of Innovation and Science Ms. Maire Geoghegan-Quinn will make the announcements about the largest funding ever today. The new FP7 program will provide €8.1bn to research and development initiatives that will be carried out across Europe to serve the purpose.

“If Europe wants to continue to compete in the 21st century we must support the research and innovation that will generate growth and jobs, now and in the future,” Commissioner Geoghegan-Quinn said today.