Julio García-Aquí Europa
The European Commission has received the fourth payment request from Spain for a value of 10 billion euros in subsidies, within the framework of the Recovery and Resilience Mechanism.
As reported by the Commission, Spain’s fourth payment request covers a total of 44 milestones and 17 objectives and encompasses transformative reforms in areas such as energy efficiency of housing, protection of biodiversity, irrigation systems, water management. waste, support for digitalization and cybersecurity, strengthening interterritorial cooperation, the digitalization of public services and measures to support pension reform that preserve the adequacy of pensions and guarantee the fiscal sustainability of the pension system.
The application also covers major investments in areas such as electric vehicle infrastructure, railways, digitalisation, research and development, to support new digital innovation hubs, raise awareness of cybersecurity, develop a suite of digital tools for businesses and increase the offer of education and vocational training.
The Commission will now evaluate the request, after which it will transmit its preliminary evaluation to the Economic and Financial Committee of the Council and guarantee compliance by Spain with the milestones and objectives required for this payment.
Payments under the Recovery and Resilience Mechanism are performance-based and dependent on Spain’s implementation of the investments and reforms outlined in its Recovery and Resilience Plan. Spain’s entire recovery and resilience plan will be financed with 163 billion euros (80 billion euros in subsidies and 83 billion euros in loans).
On June 6, Spain presented an update to its Recovery Plan that included a REPowerEU chapter and increased digital ambition and the social dimension. Since then, the Government was waiting for the resolution to request the 10 billion euros of the fourth tranche of the Next Generation European funds and to access the second phase of the European Recovery Plan and opt for the 83 billion euros in loans. that correspond to the aforementioned mechanism. Finally, the update of the Plan was approved on October 17 by the Ministers of Economy and Finance of the 27 EU States. The more than 93 billion euros that Spain will be able to mobilize will be added to the 37 billion that our country has already received from European funds.
