After months of negotiations with different bands and once the different evaluations of the European Commission and the Member States have been passed, the first batch of Next Generation funds has already been transferred to Spain. 9,000 million that will be the first impulse for the Recovery and Resilience Plan designed by the Government.
The President of the European Commission, Ursula von der Leyen, announced the decision this morning. “The disbursement of Next Generation funds today launches Spain’s Recovery and Resilience Plan. This plan will be a crucial boost to make the Green Deal a reality, to digitize the economy and make it 🇪🇸 more resilient than ever, “the president explained on her Twitter profile.
Disbursement of funds from #NextGenerationEU today launches the Recovery and Resilience Plan of Spain.
This plan will be a crucial impetus to make the #EUGreenDeal a reality, digitizing the economy and making it 🇪🇸 more resilient than ever. pic.twitter.com/urjJmhs5xV
– Ursula von der Leyen (@vonderleyen) August 17, 2021
On July 13, Ecofin unblocked the first tranche of aid that today reaches Spain. An advance that represents 13% of the 70,000 million that make up the Recovery and Resilience Plan agreed with Brussels. This will be the first in a series of payments that will be executed every six months if Spain fulfills the commitments set in its strategy.
In fact, this first payment arrives thanks to the reforms that the Government has already adopted in recent months. To receive the rest of the funds, the Sánchez executive must demonstrate to the European Commission its progress both in terms of reforms and in the fulfillment of the projects that will receive funds.
This means that the next few months will be extremely demanding for the different ministries. And, as detailed in the document agreed with the Commission, only between July and September, 11 commitments must be made. A list of tasks that from October to December will grow fat with another 29 reforms.
This battery of projects is the most varied. They include commitments present in 23 of the 30 components into which the Government has divided its Recovery Plan. For its part, both the labor reform and the pension reform they stand out as the two most important requirements for the coming months.
55% in the hands of the Autonomous Communities
To manage these projects, the autonomous communities will have 55% of the funds from the Recovery, Transformation and Resilience Plan. The President of the Government announced during the Conference of Presidents held on July 30 that the autonomous entities will manage about 10,500 million of the 19,036 million that Spain will receive in the first two payments scheduled for 2021. The one made today and the one expected for December.
For distribution María Jesús Montero, Minister of Finance and Public Function, He detailed how the governance of the plan will be organized between the different ministries involved and the territories. According to the adopted scheme, the different sectoral conferences of the ministries will organize the distribution between the Autonomous Communities.
“Here the key is the leverage policies that are already set by the European Union. The sectoral conferences of each ministry are already being the place where the distribution and the detailed explanation of the initiatives are taking place. In this body, the regional representatives debate and agree on the issues that have to do with each component of the Recovery Plan, “explained Montero.