The Cabinet is expected to approve the call this Tuesday. Supplement to Recovery Planinvolving investment and reform commitments to attract others 94,300 million European Next Generation funds by 2026 70,000 million in the first phase. In total, they will 164,300 million European funds, On transfers and loans between 2020 and 2026. The annex will also be used to modify some of the milestones and targets committed by the Government in the initial Improvement Plan. While there is debate in Europe in favor of extending the deadline for the implementation of European funds beyond 2026, Spain is currently trying to negotiate some extensions, such as part of the electric vehicle, while continuing to formally align with this target for now. .
34,000 million already paid
In the first phase, the Recovery, Transformation and Resilience Plan, approved by the European Union in July 2021, will provide Spain with a total 70,000 million Euros of transfers (non-refundable) subsidized investments in green, digital and social transformation in the Spanish economy. Spain received a total of three deliveries of money from the European Union. 37,000 million eurosAfter confirming compliance with the 121 milestones committed in the Recovery Plan (investments and reforms such as labor). According to Nadia Calviño, first vice president, 34,000 million of European funds have already been deployed, of which 70% (27,000 million) has already been given to companies, research centers, individuals and company groups through the resolution of different calls.
New 94,300 million
Now, the annex is the document that should serve to attract additional transfers (non-refundable) of 7,700 million euros. 84,000 million dayse euro loan to finance Improvement Plan investments in which private sector or public administrations participate, with lower interest rate and longer term. The government has granted these 84,000 million credits. 12 backgrounds geared towards productive sectors and regional projects. All this in exchange for new commitments on reforms and investments in Europe. The annex also includes projects to be financed with 2,600 million from the new RepowerEU mechanism, with which the European Union plans to advance energy autonomy.
At the end of 2022, Economy Minister Nadia Calviño submitted the first draft of this supplement. . General elections to be held on 23 July. According to the regulation, the deadline for submission of this addendum will be 31 August this year.
26,300 million for Pertes
With new loans, the government aims to promote industrialization and strategic autonomy in the fields of energy, agri-food, industry, technology and digitalization, and strengthen investments in 12 strategic projects (Perte) already approved and ongoing. As projected in December, the annex anticipates that 26,300 million (7,700 million grants plus 18,600 million loans) will be used to strengthen the ongoing Pertes.
20,000 million autonomous fund
Among the 12 financing funds envisaged in the addendum, there is also the creation of a fund for sustainable investments of autonomous regions amounting to 20,000 million, which will be managed in cooperation with the Official Credit Institution (ICO) and the Republic of Turkey. European Investment Bank (EIB).
22,500 million ICO credits for companies
According to Calviño (€15,000 million was originally planned for this purpose) the goal of a program with €22,500 million in financing, which will be expressed through the ICO, will be the modernization of Spanish companies “with special emphasis on SMEs”.
It also includes a 1,000 million fund to finance actions to modernize. tourism sector. Creation of financial instruments to support social investments and on the field audiovisual.
Strengthening the Digital Kit
In addition, it is planned to expand the grant program. digital Kit, After the annex is approved, it will reach not only SMEs with fewer than 49 employees, but also small and medium-sized companies with 50 or more employees. According to Calviño, this program has already reached 230,000 SMEs.
A donation of 2,200 million will serve to promote new tax incentives for green investments in favor of families and companies.
4,000 million for social housing
The annex also provides a €4,000 million ICO line to fund the opening of 43,000 new social rental homes announced by President Pedro Sánchez ahead of the last district and municipal elections.