CHAPTER II, CHIPS FOR EUROPE INITIATIVE
SECTION 1, GENERAL PROVISIONS
Article 3: Establishment of the Initiative
1. The Initiative is established for the duration of the Multiannual Financial Framework 2021-2027.
2. The Initiative shall be supported by funding from the Horizon Europe programme and the Digital Europe programme, and in particular Specific Objective 6 thereof, for a maximum indicative amount of EUR 1.65 billion and EUR 1.65 billion respectively. This funding shall be implemented in accordance with Regulation (EU) No 2021/695 and Regulation (EU) No 2021/694.
Note: This is not the final text of the European Chips Act. This is the text of the European Chips Act Proposal of February 2022.