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The EU is very visible in their research programmes, see for example https://ec.europa.eu/programmes/horizon2020/en and https://ec.europa.eu/research/fp7/index_en.cfm

And one of the aims of these programs are for EU research institutes to collaborate transnationally.

The EU-as-an-instituion has a budget of 1% of the member states’ GDPs: 1% of ~15 Tr/y, or 150 Bn/y.

Given that, 100 Bn/5 years sounds implausible for a single project for the EU-as-an-institution, so I’d assume it would be EU-as-a-region with the EU-as-an-institution as one of the project partners.

The second one.