The main purpose of this paper is to present the current status of development of the Lead-cooled Fast Reactor (LFR) in Generation IV (GEN IV), including the European contribution, to identify needed R&D and to present the corresponding GEN IV International Forum (GIF) R&D plan [1] to support the future development and deployment of lead-cooled fast reactors. The approach of the GIF plan is to consider the research priorities of each member country in proposing an integrated, coordinated R&D program to achieve common objectives, while avoiding duplication of effort. The integrated plan recognizes two principal technology tracks: (1) a small, transportable system of 10-100 MWe size that features a very long refuelling interval, and (2) a larger-sized system rated at about 600 MWe, intended for central station power generation. This paper provides some details of the important European contributions to the development of the LFR. Sixteen European organizations have, in fact, taken the initiative to present to the European Commission the proposal for a Specific Targeted Research and Training Project (STREP) devoted to the development of a European Lead-cooled System, known as the ELSY project; two additional organizations from the US and Korea have joined the project. Consequently, ELSY will constitute the reference system for the large lead-cooled reactor of GEN IV. The ELSY project aims to demonstrate the feasibility of designing a competitive and safe fast power reactor based on simple technical engineered features that achieves all of the GEN IV goals and gives assurance of investment protection. As far as new technology development is concerned, only a limited amount of R&D will be conducted in the initial phase of the ELSY project since the first priority is to define the design guidelines before launching a larger and expensive specific R&D program. In addition, the ELSY project is expected to benefit greatly from ongoing lead and lead-alloy technology development already being carried out in different institutes participating in this STREP. This is particularly true in Europe where a large R&D program associated with the development of Accelerator Driven Systems (ADS) is being actively pursued. The general objective of the ELSY project is to design an innovative lead-cooled fast reactor complemented by an analytical effort to assess the existing knowledge base in the field of lead-alloy coolants (i.e., lead-bismuth eutectic (LBE) and also lead/lithium) in order to extrapolate this knowledge base to pure lead. This analysis effort will be complemented with some limited R&D activities to acquire missing or confirmatory information about fundamental topics for ELSY that are not sufficiently covered in the ongoing European ADS program or elsewhere