The objectives are: Promote economic, social and territorial cohesion; strengthen resilience and adjustment capacity; mitigate the social and economic repercussions of the COVID-19 crisis and support the green and digital transitions.
These European Funds are articulated in several instruments, one of which is the Recovery and Resilience Mechanism (MRR): endowed with 672.5 billion euros for all Member States. It aims to support investment and reforms in Member States to achieve a sustainable and resilient recovery, while promoting the EU's green and digital priorities.
Within the Recovery and Resilience Mechanism, Spain will receive a total of approximately 140,000 million euros, nearly 70,000 million correspond to non-refundable transfers. In addition, you will be able to access a maximum volume of 70,000 million euros in loans.
Europe Recovery Plan
To achieve the objectives and mobilize MRR financing, Spain has the Recovery and Resilience Plan that includes the reforms and investment projects necessary for this and represents the most important boost in its recent economic history.
The Plan details the investments and reforms in the period 2021-2023, with a concentration in the field of green transformation (40.29%) and digital transformation (29.58%), and a clear commitment to education and training (10 .5%), R&D&I (7%) and the reinforcement of social inclusion and cohesion throughout the territory. It outlines the roadmap for the modernization of the Spanish economy, the recovery of economic growth and job creation, after the COVID-19 crisis, as well as to prepare the country to face the challenges of the future.
Recovery Plan, Transformation and Resilience of Spain
Modernization and Competitiveness Plan for the Tourism Sector