EU Long-term budget (2021-27) - Just Transition Mechanism (JTM)
The Just Transition Mechanism (JTM) is a fund designed to provide targeted support to alleviate the economic impact of the transition towards a climate neutral economy in the most affected regions. It will create the necessary investment to help communities reliant on fossil fuel value chains. It aims to help mobilize 55 billion EUR from 2021-2027, and some of its impacts include offering re-skilling opportunities, facilitating access to clean, affordable and secure energy, investing in the creation of new firms, SMEs and start ups, and investing in research and innovation activities.
JTM has three pillars as follows: 1) The Just Transition Fund, 2) InvestEU Dedicated Just Transition Scheme, and 3) Public sector loan facility with the European Investment Bank.
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