2014-20 budget allocation (€14.7 million) with a breakdown of the education and training budget by sector

Erasmus+ has been allocated a budget of €14.7 billion for the 2014-20 period, a 40% increase on the previous period but a decrease on the amount originally proposed by the Commission. An additional €1.68 billion is available for actions with third countries through the external action budget. The programme encompasses previous education programmes (notably Erasmus, Tempus, Comenius, Leonardo da Vinci, Grundtvig and Youth in Action) bringing an overall reduction in calls and actions and more efficient use of funds. The division of funds in the three Key Actions described above applies to the areas of ‘education and training’ and ‘youth’. Most of the budget goes towards ‘education and training’. Within this category, higher education receives almost half of that amount.