Spanish Recovery Plan approved and we could receive the first €9 billion this summer
On Tuesday 13 July, the Economic and Financial Affairs Council (Ecofin) approved the National Recovery, Transformation and Resilience Plan (“España Puede” 2020-2026), through which €140 billion may be channelled to Spain until 2026: €69.528 billion in the form of non-refundable grants until 2023 and the remaining €70 billion in the form of loans until the end of the period.
This final approval was the final milestone of an action required by the EU from the member states after the creation and approval of the Next Generation EU reinforcement fund in July 2020, endowed with more than €750 billion. With this last step, a first payment to Spain of €9 billion is unblocked, which could be made this summer. In addition, another disbursement of around €11.5 billion could be added at the end of the year, in this case conditional on the fulfilment of a series of milestones and objectives agreed between the Spanish government and Brussels. In total, Spain would receive more than €19 billion in European funds linked to the Next Generation EU this year. This is undoubtedly a significant sum that represents a unique opportunity and a highly valuable tool for boosting the economic recovery of our companies after the health and economic crisis caused by Covid-19.
The “España Puede” Plan approved includes 212 measures, of which 110 are investments and 102 reforms for the period 2021-2023, although they do not start from scratch but from the strategic lines proposed by the EU since 2018. The almost €70 billion in transfers until the end of 2023 will be heavily concentrated in the areas of green transformation (39.12%) and digital transformation (29%), education and training (10.5%), R&D&I (7%) and the strengthening of social inclusion and territorial cohesion.
Among the 20 main investments to be developed in the coming years are the following: The Sustainable, Safe and Connected Mobility Strategy (€13.203 billion), the Housing Rehabilitation and Urban Regeneration Programme (€6.820 billion), the modernisation of public administrations (€4.315 billion), the Development of the National Science and Innovation System (€3. 380 billion), the SME Digitalisation Plan (€4.066 billion), the Spain 2030 Industrial Policy and the Circular Economy Strategy billion), the 5G roadmap (€3.999 billion) and the National Artificial Intelligence Strategy (€500 million). Currently, these funds have already started to be used with practical application in specific R&D calls, managed by different ministerial departments and national and regional development agencies.
Thanks to the new Global Management of European Funds service, artica+i aims to become a support point for companies and associations in the definition, design and execution of their Multiannual Strategic Plans aligned with the guidelines of these funds. This service thus covers from the diagnosis and planning phase of the proposals to the application and access to funds through the three fundamental mechanisms proposed by the Plan, for instance grants, tenders and contracts and PERTEs, as well as the subsequent comprehensive management of the projects identified.
