Of that quantity, 84,000 million shall be loans below favorable situations. With these sources and extra transfers, the twelve strategic initiatives already underway shall be strengthened The Government had till August 31 to request funds, however defends doing so now attributable to “duty”
The Council of Ministers has accepted the request to the European Commission for a further 90,000 million euros, of which the bulk shall be loans. The plan contains an addendum with which a further 7,700 million euros shall be mobilized in transfers, that’s, non-refundable. To this quantity have to be added nearly 2,600 million euros from the brand new REpowerEU mechanism.
The deployment of European funds “is already having a optimistic impression that’s mirrored within the sturdy restoration of financial progress,” mentioned the financial vp after the Council of Ministers.
Nadia Calviño has indicated that the addendum to the Recovery, Transformation and Resilience Plan will enable the method of modernization of the economic system to “culminate” and that the completely different initiatives launched have “insured” financing and “in good situations” till the 12 months 2026. According to his calculations, the Recovery Plan will add a mean of three% progress to the economic system by 2030.
At the tip of the 12 months, Nadia Calviño already offered a primary draft of this addendum, during which the Executive has continued working to approve its last and formal model this Tuesday and ship it to Brussels earlier than the overall elections are held on July 23 . The Spanish Executive thus complies with the deadline established by the European regulation to submit this addendum, which ends on August 31 of this 12 months.
The Government defends approving the addendum earlier than the elections
“The deadline to use for loans ended within the month of August and it was not practical to assume {that a} new job may very well be began after the elections attributable to duty and for not placing a cease to the whole course of that’s underway presently,” The vp has defended the criticism from the opposition for approving the addendum earlier than the overall elections.
After its referral to Brussels, the European Commission has two months, which may be prolonged by one other month, to approve the addendum, which can even need to be validated by the Ecofin Council.
With these sources and extra transfers, the Government intends to pay attention investments and reforms on selling industrialization and strategic autonomy within the fields of power, agri-food, industrial, technological and digital, reinforcing investments in strategic initiatives (Perte) Already accepted and operating.
Specifically, the ten.3 billion euros of extra transfers shall be used above all to bolster the 12 strategic initiatives which are already underway. Within these transfers, these from the REpower program, which is aimed toward accelerating the power transition, will enable the reinforcement of the strategic venture for renewable energies, inexperienced hydrogen and storage, referred to as ‘Perte ERHA’ and likewise the decarbonization of the trade , as much as 3,000 million euros. The Perte of microelectronics and semiconductors, referred to as ‘Perte Chip’, can even be endowed with some 12,000 million euros.
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