ITER, the world's biggest energy research project, has got an extra €1.3 billion funding for 2012 and 2013 following the agreement reached between the Council and Parliament. Thus, the Commission adopted a draft amending budget to meet the €650 million this year's contribution to the ITER project.

The European Commission has adopted a draft amending budget to meet of this year's financial needs for the ITER project (€650 million) without asking Member States for additional contributions. This draft amending budget is to materialise an important part of the deal between the Council and the European Parliament that increases the commitment appropriations by €650 million through the change of the current multiannual limits. The plan was initially proposed by the Commission in 2010.

The extra €1.3 billion needed for ITER in 2012 and 2013 is breaking down as follows: €100 million included in the 2012 budget; €840 million covered through an increase in the part of the budget dedicated to Competitiveness for Growth and Employment (from which ITER is financed): €650 million in 2012 and €190 million in 2013. These needs were covered by the reducing the 2011 ceilings for agriculture and for administration by €450 million and €243 million respectively and the 2012 ceiling for administration by € 147 million; and finally, €360 million to be made available in the 2013 budget.

ITER, which is expected to boost technological competence and industrial competitiveness within the EU, is the world's biggest energy research project, aiming to prove the feasibility of fusion power as a possible source of safe, sustainable and abundant energy. The European Union together with China, India, Japan, the Russian Federation, South Korea and the USA are working together on this major research facility.