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Spain requests Brussels for a technical addendum to the Recovery Plan

by AI | 04.Dec 2024 | Europe in brief AI

It will allow the formalization of the request for the fifth disbursement of ‘Next Generation EU’ funds for more than 7.5 billion euros in transfers, along with the first two loan disbursements, which will result in a total amount close to 25 billion euros.

The Secretary General of the PSOE and President of the Government, Pedro Sánchez, during the meeting of the new PSOE Executive approved at the 41st Federal Congress, at the Ferraz headquarters, on December 2, 2024, in Madrid (Spain). Photo: Eduardo Parra / Europa Press

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Madrid – The Government submitted on Tuesday the official request to Brussels for the technical addendum of the Recovery, Transformation and Resilience Plan, which will allow the formalization, before the end of 2024, of the request for the fifth disbursement of ‘Next Generation EU’ funds for more than 7.5 billion euros in transfers, along with the first two loan disbursements, which will amount to a total close to 25 billion euros.

The President of the Government of Spain, Pedro Sánchez, chaired the VIII meeting of the Inter-ministerial Commission of the Recovery, Transformation and Resilience Plan in Madrid yesterday, where the progress in the execution of the Plan and the next steps to continue contributing to the transformation of Spain in a green and digital key were analyzed.

Among the issues were the official request for the technical addendum of the Recovery Plan that Spain presented on Tuesday, on which the Government has been working with the European Commission.

According to a statement by the Spanish Executive, the addendum involves the advancement of more than 50 milestones and goals already achieved, so that the fifth disbursement of transfers and the first two loan disbursements will go from having 29 milestones and goals to collecting more than 80 milestones and goals.

This will allow the formalization, before the end of 2024, of the official request for the fifth disbursement of more than 7.5 billion euros in transfers, along with the first two loan disbursements – around 15 billion euros – which will amount to a total close to 25 billion euros.

Similarly, the Inter-ministerial Commission addressed the progress of the work for the reprogramming of the funds, with the aim of directing them to actions that contribute to the reconstruction and relaunch of the areas affected by the DANA.

The Government of Spain assured that it is already working with the European Commission to include the new ‘DANA Component’ in the Recovery Plan. The negotiation process will be completed in the coming weeks with the official request for the DANA addendum.

In addition, the creation of the State Network Consortium for the Development of Advanced Therapy Medicines and the National Neurotechnology Center Consortium was approved.

The President of the Spanish Government detailed the advances of the Recovery Plan, highlighting that currently over 44 billion euros in resolved calls have been exceeded, both by the General State Administration and the autonomous communities.

In addition, there are already close to 840,000 direct beneficiaries of the Plan, of which 40% are micro-enterprises and SMEs. Similarly, agreements with the ICO and the EIB for the execution of around 56 billion euros of funds created with both organizations were approved. Spain is the first country in the EU in receiving transfer funds from the Recovery Plan.

Meanwhile, the strategic projects for economic recovery and transformation (Perte) already reach 17.4 billion euros in resolved calls, driving projects like battery gigafactories in Sagunto, Navalmoral de la Mata, and Zaragoza.

Thanks to the Next Generation EU funds, there are also nearly 25,000 social rental homes under development and more than 337,000 new vocational training places have been created, among other milestones. (December 3)

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