The EU financial perspective 2028-2034 is the EU budget designed by the European Commission, worth nearly EUR 2 trillion, of which more than EUR 123 billion is to go to Poland – the highest allocation of all Member States.
For businesses, local governments and farmers, this means not only record funding but also a profound change in the rules for accessing it: the consolidation of instruments into a single plan, a greater role for funds managed directly from Brussels, and settlement based on results rather than solely on expenditure incurred. Below we explain what funding will be available for, who will benefit most and how to prepare now.
Disclaimer: all amounts and solutions discussed in this article come from the draft Multiannual Financial Framework (MFF) presented by the European Commission and remain subject to negotiations with the European Parliament and the Member States. The final shape of the budget may differ from the values presented (as of October 2026).
How large is the EU budget for 2028–2034 and where does the money come from?
The European Commission has proposed a budget of EUR 1.76 trillion in 2025 prices, i.e. nearly EUR 2 trillion in current prices, which corresponds to approximately 1.26% of EU gross national income. It would be the largest budget in the history of the Union.
What is new is the method of financing. The Commission has proposed five new own resources:
- a share of revenue from the EU Emissions Trading System (EU ETS),
- a share of revenue from the CBAM mechanism (a border charge on CO₂ emissions),
- a resource based on uncollected electronic waste,
- a resource based on excise duty on tobacco products,
- a contribution from large companies with an annual turnover above EUR 100 million (CORE).
According to the Commission's estimates, the changes to the own resources system are expected to generate on average around EUR 58 billion per year, of which around EUR 44 billion would come from the new resources. These revenues are to finance new priorities – competitiveness, defence and clean technologies – as well as the repayment of NextGenerationEU liabilities, which will begin in 2028.
The issue of new own resources is one of the most contentious elements of the negotiations, as it requires unanimity in the Council and reconciling the divergent interests of countries with different economic structures.
Poland's place in the new budget – more than EUR 123 billion
Poland remains the largest beneficiary of the proposed perspective. According to the Commission's proposal, the country is to receive around EUR 123.3 billion, i.e. nearly half a trillion złoty. France and Spain came next.
A significant qualitative change is that funds which previously operated in separate programmes have been combined into a single national plan for Poland:
- cohesion policy,
- the Common Agricultural Policy and support for rural development,
- the Common Fisheries Policy,
- the Social Climate Fund,
- funds for asylum, migration and border management.
The Polish side's negotiating priorities remain, above all, cohesion policy, the Common Agricultural Policy and defence. The government is also seeking to maintain a strong position for voivodeships and local governments in managing the funds. Polish negotiators assume, however, that the final amount may change, as some net-contributor states are calling for the budget to be reduced.
PPKR – one plan instead of many programmes
The most important operational change for applicants is the move away from a system of separate national and regional programmes towards a single document – the National and Regional Partnership Plan (PPKR).
The PPKR combines a wide range of instruments in a single mechanism: cohesion policy, agricultural funds, climate and social funds, as well as migration and security. At the Ministry of Funds and Regional Policy, a team supporting work on the preparation of the Polish Plan was established by an order of 17 February 2026. Information on the government's priorities in this area is published by the gov.pl website.
What changes in practice?
The existing model was based mainly on settling expenditure incurred. The new approach shifts the emphasis to implementing reforms and achieving measurable results – the so-called milestones. In practice, this means:
- greater importance of precisely defined indicators already at the application stage,
- a closer link between investment projects and systemic reforms,
- higher financial risk – delays or failure to achieve targets may result in a reduction or loss of part of the funding,
- the growing importance of the quality of documentation and realistic planning of results.
Of particular importance to local governments is the government's declaration that the Polish PPKR will contain 16 separate regional chapters – one for each voivodeship. This is a response to concerns about excessive centralisation of fund management.
What will funding be available for?
The draft MFF sets out several main areas of support. Below are the most important ones from the perspective of different groups of beneficiaries.
Regional development and cohesion
The Commission proposes that more than half of the budget – around EUR 946 billion – should go to the National and Regional Partnership Plans. Under the PPKR, planned measures include infrastructure investments, the regeneration of small towns and support for access to affordable housing.
Competitiveness, research and innovation
The central element of the new budget is to be the European Competitiveness Fund (ECF) with a proposed value of more than EUR 500 billion, aimed at narrowing the technology gap with the USA and China. The Fund consolidates existing support programmes into a single set of rules and is closely linked to the Horizon Europe programme. The scope of support includes:
- R&D projects and the deployment of strategic technologies,
- technology start-ups and the digitalisation of business processes,
- support for SMEs through horizontal measures (advisory services, skills, access to finance),
- renewable energy, energy efficiency and CO₂ emission reduction projects,
- defence, the space industry and dual-use technologies.
Key change for businesses: part of these funds will be managed directly by the European Commission. This means that businesses will need to apply more actively for funding at EU level, and not only in national calls.
Agriculture and rural areas
The Common Agricultural Policy is being incorporated into an integrated fund under the PPKR, moving away from the existing two-pillar structure. The Polish side is seeking to maintain the share of these policies at a level similar to the 2021–2027 perspective and to ensure significant support for rural areas.
Education, values and quality of life
Spending on the Erasmus+ programme is set to increase significantly – the Commission proposes more than EUR 36 billion for this purpose. A new AgoraEU programme will also be created to support civil society, media freedom and democratic values. Preparedness for natural disasters and crisis situations will also be strengthened.
Who will benefit most?
Based on the draft budget, the greatest potential benefits concern the following groups:
- SMEs and technology start-ups – access to the ECF, Horizon Europe and horizontal support,
- local governments and regions – regional chapters of the PPKR, infrastructure investments, regeneration, housing,
- the agricultural sector and rural areas – the CAP within the integrated fund,
- the R&D sector and science – financing of the full innovation cycle, from research to commercialisation,
- green transition companies – renewable energy (RES), energy efficiency and emission reduction projects,
- the security and dual-use technology sector – in view of the increase in defence spending.
Companies planning R&D projects or technology deployments should start preparing now to compete for funding at EU level – in this respect, help may be provided by the consultation on innovation and R&D activities.
Timetable – when will the first calls open?
The draft budget was presented by the Commission on 16 July 2025. The Polish side and the President of the European Council have declared their aim to conclude negotiations by the end of 2026. This would make it possible to avoid a so-called investment gap and to release funds from 2028. However, due to differences between Member States, meeting this deadline is not a foregone conclusion.
Key dates:
- July 2025 – presentation of the draft MFF by the European Commission,
- February 2026 – establishment of the PPKR preparation team at the MFiPR (Ministry of Funds and Regional Policy),
- end of 2026 – expected deadline for concluding negotiations,
- 2028 – planned entry into force of the new budget.
Detailed information on the draft budget is published on an ongoing basis by the European Funds Portal, while the European Commission's source materials are available on the EU budget 2028–2034 website.
Until the new perspective is launched, calls under the 2021–2027 programmes continue. Current funding opportunities – national, regional and international – can be checked in the free grant search engine with an AI Assistant, while the selection of an instrument for a specific project is covered by the funding analysis and selection service.
Would you like to prepare your company or local government for the new financial perspective, or still make use of 2021–2027 funds? We would be happy to talk.Contact an expert
Author: Dariusz Kozakiewicz
EU funding expert