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The government approves a recovery plan supplement that adds 7,700 million in subsidies and 84,000 in loans.

First Vice President and Minister of Economic Affairs Nadia Calvino presented the main features of the recovery plan addition project at a press conference held after the Council of Ministers on Tuesday. “This is the second stage for the full deployment of European funds, corresponding to Spain,” he defended.

This update includes three important new features. First, the appointment of additional transfers corresponding to Spain. This means an additional subsidy of 7700 million.

The second is to separate loans from the recovery and sustainability mechanism. Spain can request a maximum of €84,000 million from the European Commission.

And thirdly, the allocation of funds from the REPowerEU plan, which aims to save energy, increase clean energy production and diversify Europe’s energy sources. Spain was temporarily allocated an additional 2,586 million euros in the temporary distribution of the fund.

As the government defends, “the annex will provide continuity to the ambitious reforms and investments of the recovery plan, focusing on strategic issues in line with its strategic objectives (ecological transition, digital transformation, social and territorial cohesion and gender equality). Autonomy through strategic projects known as PERTE”.

The rhythm of calls is 2000 million per month

As announced, the project will be presented at the beginning of 2023. “In total, the Spanish treasury has already received 31,000 million euros of European funds. And the government decided to give up almost 19,000 million,” explained Calvino, who explained that the call rate is close to 2,000 million euros per month.

The addition to the recovery plan is an update to the document approved in July 2021. It was planned to be submitted by the government to the European Commission in the second half of 2022, and the executive authorities met this deadline.

Source: El Diario





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