The European Chips Act

Article 3, Establishment of the Initiative.

1. The Initiative is established for the duration of the Multiannual Financial Framework 2021–2027, established by Council Regulation (EU, Euratom) 2020/2093.

2. The Initiative shall be supported by funding from Horizon Europe and the Digital Europe Programme, and in particular Specific Objective 6 of the Digital Europe Programme, for a maximum indicative amount of EUR 1,725 billion and EUR 1,575 billion, respectively. That funding shall be implemented in accordance with Regulations (EU) 2021/694 and (EU) 2021/695.