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BRUSSELS , July 10 (Xinhua) -- The European Commission launched a 22-billion-euro innovation project on Wednesday to boost competitiveness of EU industry in strategic technology sectors.


The new project, named Joint Technology Initiatives, will focus on medicines, aeronautics, bio-based industries , fuel cells and hydrogen, and electronics.


Jose Manuel Barroso, president of the European Commission, said: "The EU must remain a leader in strategic global technology sectors that provide high quality jobs. This innovation investment package combines public and private funding to do just that. This is a perfect demonstration of the leverage effect of the EU budget for growth and jobs."


Maire Geoghegan-Quinn, the European Commissioner for Research , Innovation and Science, said: "The initiatives we are presenting today not only strengthen our economy, they are an investment in a better quality of life. These partnerships will deliver good jobs, and major benefits to society, such as cleaner , greener aircraft; alternatives to fossil fuels; and new treatments to combat the growing threat of antimicrobial resistance."