The European Investment Bank (EIB) and the European Commission signed agreements totaling EUR 4 billion on February 28, including a guarantee agreement that will mobilize up to EUR 3.5 billion in loans and EUR 500 million in Trust Fund contributions to African, Caribbean and Pacific (ACP) countries by 2027. The agreement marks an important step […]
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US was the EU’s largest maritime freight partner in Q2 2022
Recent Eurostat data shows that, in terms of total gross weight of goods, the United States was the EU’s largest maritime freight transport partner in the second quarter of 2022, with a total of 61 million tonnes, surpassing Russia (57 million tonnes). Russia came in second position, followed by the United Kingdom (55 million tonnes), […]
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The visit to Spain by the European Parliament’s Committee on Budgetary Control to evaluate the recovery funds comes to an end
The delegation met with members of the Spanish Government, including Nadia Calvinho, First Vice-President and Minister of Economy and Digital Transformation; María Jesús Montero, Minister of Finance and Public Administrations; and José Luis Escrivá, Minister of Inclusion, Social Security and Immigration. They also met with parliamentarians from Castilla-La Mancha, Madrid, Extremadura, Andalusia and Aragon, as […]
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The Council will include REPowerEU chapters in the Recovery and Resilience Facility
The Council formally adopted a regulation modifying the Recovery and Resilience Facility to include REPowerEU chapters. The goal is to increase the EU’s strategic autonomy by diversifying its energy supplies and ending its reliance on Russian fossil fuel imports. This is the last step in the adoption process. In practise, under NextGenerationEU, member states will […]
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The Enterprise Europe Network arrives in Colombia
For the first time, the Enterprise Europe Network will have a representation in Colombia to promote the internationalization of companies from the country to Europe and vice versa. The Enterprise Europe Network (EEN) helps companies innovate and grow in the EU single market and beyond. It is the world’s largest service provider for small and […]
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European Commission approves €460M aid to ArcelorMittal Spain to support decarbonisation of its steel production
The European Commission has approved a €460 million Spanish measure under EU state aid rules to help ArcelorMittal España (“ArcelorMittal”) to partially decarbonise its steel production. The support will help achieve the objectives of the EU Hydrogen Strategy and the European Green Pact and reduce dependence on Russian fossil fuels and accelerate the green transition […]
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European Commission approves third €6 billion payment to Spain under the Recovery and Resilience Mechanism
The European Commission has approved a positive preliminary assessment of Spain’s request to pay a grant of EUR 6 billion. 6 billion (net pre-financing) under the NextGenerationEU main instrument: Recovery and Resilience Mechanism (RRM). Spain submitted a payment request to the European Commission on 11 November 2022 based on the achievement of the twenty-four milestones […]
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European Chips Act: the EU’s response to the semiconductor shortage
In a world facing a crisis due to lack of semiconductors, the European Chips Act aims to secure the EU’s supply by boosting domestic production. Since late 2020, there has been an unprecedented shortage of semiconductors around the globe. The semiconductor supply chain is very complex and vulnerable to events such as the Covid-19 outbreak. […]
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Member States update EU list of non-cooperative jurisdictions for tax purposes
On 14 February 2023, EU Member States agreed on the latest update the EU list of non-cooperative jurisdictions for tax purposes. Following the update, Annex I of the EU list is made up of 16 jurisdictions due to their lack of commitment to improve their tax good governance or due to the lack of progress […]
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