Following an agreement with the Council of the European Union and the European Parliament, the European Commission is to go ahead with its plan to build a third strategic satellite constellation to add to the existing Galileo and Copernicus networks. The network is called IRIS (Infrastructure for Resilience, Interconnection & Security by Satellites) and will be part-funded with €2.4bn of European Union cash, though the total cost of building the network is expected to be about €6bn.