EU to spend €#6bn for R&D innovation 12% up

The EU has announced 6.4bn euros $8bn

of funding for scientific research and innovation next year - a 12% increase on this year's allocation.

The programme is aimed at creating more than 165,000 jobs and developing "a more competitive and greener Europe", the European Commission says.

The focus is on tackling climate change, energy projects, food security, health and Europe's ageing population.

Grants will be awarded to about 16,000 research bodies and businesses.

The investment includes more than 600m euros for health research, about 206m euros of which will go into clinical trials for new drugs.

Nanotechnologies will get 270m euros, while about 600m euros is earmarked for advanced computer technologies.

Another 400m euros is to be spent on computer applications that address the challenges of building a low-carbon economy and managing ageing populations. source: bbc.co.uk | Low carbon economy