{"id":140889,"date":"2023-10-03T03:00:08","date_gmt":"2023-10-03T01:00:08","guid":{"rendered":"https:\/\/www.cde.ual.es\/?p=140889"},"modified":"2023-10-02T14:44:14","modified_gmt":"2023-10-02T12:44:14","slug":"commission-endorses-spains-e163-billion-modified-recovery-and-resilience-plan","status":"publish","type":"post","link":"https:\/\/www.cde.ual.es\/en\/commission-endorses-spains-e163-billion-modified-recovery-and-resilience-plan\/","title":{"rendered":"Commission endorses Spain&#8217;s \u20ac163 billion modified recovery and resilience plan"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>The Commission has given a positive assessment of Spain&#8217;s modified recovery and resilience plan, which includes a REPowerEU chapter. The plan is now worth \u20ac163 billion (\u20ac83 billion in loans and \u20ac80 billion in grants) and covers 111 reforms and 142 investments.<\/strong><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2022\/06\/espana-europa.jpg\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-111142\" src=\"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2022\/06\/espana-europa.jpg\" alt=\"\" width=\"1600\" height=\"900\" srcset=\"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2022\/06\/espana-europa.jpg 1600w, https:\/\/www.cde.ual.es\/wp-content\/uploads\/2022\/06\/espana-europa-300x169.jpg 300w, https:\/\/www.cde.ual.es\/wp-content\/uploads\/2022\/06\/espana-europa-1024x576.jpg 1024w, https:\/\/www.cde.ual.es\/wp-content\/uploads\/2022\/06\/espana-europa-768x432.jpg 768w, https:\/\/www.cde.ual.es\/wp-content\/uploads\/2022\/06\/espana-europa-1280x720.jpg 1280w, https:\/\/www.cde.ual.es\/wp-content\/uploads\/2022\/06\/espana-europa-1536x864.jpg 1536w\" sizes=\"(max-width: 1600px) 100vw, 1600px\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">Spain&#8217;s\u00a0<strong>REPowerEU chapter<\/strong>\u00a0consists of\u00a0<strong>a new<\/strong>\u00a0<strong>reform<\/strong>, a<strong>\u00a0scaled-up investment\u00a0<\/strong>drawing on three existing measures,<strong>\u00a0<\/strong>and<strong>\u00a0seven new investments<\/strong>\u00a0to deliver on the\u00a0<a href=\"https:\/\/commission.europa.eu\/strategy-and-policy\/priorities-2019-2024\/european-green-deal\/repowereu-affordable-secure-and-sustainable-energy-europe_en\">REPowerEU Plan<\/a>&#8216;s objectives to make Europe independent of Russian fossil fuels well before 2030. These measures focus on diversifying away from fossil fuels, notably by accelerating the deployment of renewable energy, renewable hydrogen, decarbonising industry and investing in the value chain for the net-zero industry.<\/p>\n<p style=\"text-align: justify;\">In addition, the revised recovery and resilience plan includes\u00a0<strong>59 measures<\/strong>\u00a0that are\u00a0<strong>new<\/strong>\u00a0or aim to\u00a0<strong>increase their level of ambition<\/strong>. The new measures seek to strengthen Spain&#8217;s business environment and attract skilled workers, improve the sustainability of the agricultural sector, promote the circular economy and counter desertification, streamline permitting procedures for renewable energy projects, strengthen cybersecurity rules and boost affordable housing. The proposed new or scaled-up investments cover new financial instruments to promote investments in the economy, including to support the green and digital transitions, as well as the competitiveness of SMEs.<\/p>\n<p style=\"text-align: justify;\">Spain&#8217;s\u00a0<strong>changes<\/strong>\u00a0to the original plan are based on the need to factor in:<\/p>\n<ul style=\"text-align: justify;\">\n<li>objective circumstances hindering the fulfilment of certain measures as originally planned, including the high inflation experienced in 2022 and 2023 and supply chain disruptions caused by Russia&#8217;s war of aggression against Ukraine;<\/li>\n<li>the request to take up\u00a0<strong>\u20ac83 billion<\/strong>\u00a0in available RRF loans;<\/li>\n<li>the upward revision of its maximum RRF grant allocation, from \u20ac69.5 billion to\u00a0<strong>\u20ac77.2 billion<\/strong>.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">To\u00a0<strong>finance<\/strong>\u00a0the increased ambition of its plan, Spain has also requested to transfer to the plan its share of the\u00a0<strong>Brexit Adjustment Reserve (BAR),<\/strong>\u00a0in line with the\u00a0<a href=\"https:\/\/eur-lex.europa.eu\/eli\/reg\/2023\/435\/oj\">REPowerEU Regulation<\/a>, amounting to\u00a0<strong>\u20ac58 million<\/strong>. These funds, added to Spain&#8217;s RRF and REPowerEU grants allocation (amounting to\u00a0<strong>\u20ac77.2 billion\u00a0<\/strong>and<strong>\u00a0\u20ac2.6 billion\u00a0<\/strong>respectively) and to its RRF loan request of\u00a0<strong>\u20ac83 billion<\/strong>, make the approved overall modified plan worth\u00a0<strong>\u20ac163 billion<\/strong>.<\/p>\n<p style=\"text-align: justify;\"><strong>An additional boost to Spain&#8217;s green transition\u00a0\u00a0<\/strong><strong>\u00a0<\/strong><\/p>\n<p style=\"text-align: justify;\">The\u00a0<strong>modified plan<\/strong>\u00a0has a\u00a0<strong>strong focus on the green transition<\/strong>, allocating\u00a0<strong>40%<\/strong>\u00a0of available funds to measures that support climate objectives. The revised plan includes 30 new measures on climate action, bringing the total green contribution to\u00a0<strong>\u20ac65 billion<\/strong>\u00a0(up from \u20ac27.6 billion in the original plan).<\/p>\n<p style=\"text-align: justify;\">The new reform, the scaled-up investment and the seven new investments included in the\u00a0<strong>REPowerEU chapter<\/strong>\u00a0contribute significantly to the green dimension of the plan. The reform aims at facilitating the deployment of renewable energy sources and at streamlining the processing of permitting applications. The seven new investments focus on renewable hydrogen, the value chain for renewable energy, electricity networks and the decarbonisation of industry. The scaled-up investment will support energy self-consumption, energy storage and energy communities.<\/p>\n<p style=\"text-align: justify;\">In addition, significant investments, structured as financial instruments, subsidy and support schemes, will also boost sustainable transport, energy efficiency, renewable energy, industry decarbonisation, the circular economy, climate change adaptation and sustainable tourism. Other investments will support water management and water re-use, making it more efficient through the digitalisation of \u2018irrigation communities&#8217; and of the processes related to the management of cities&#8217; water cycle.<\/p>\n<p style=\"text-align: justify;\"><strong>Reinforcing Spain&#8217;s digital preparedness and social resilience\u00a0<\/strong><strong>\u00a0<\/strong><\/p>\n<p style=\"text-align: justify;\">The Spanish plan&#8217;s\u00a0<strong>digital ambition<\/strong>\u00a0<strong>has also increased<\/strong>, thanks to\u00a0<strong>18 new measures<\/strong>\u00a0that contribute to the digital transition by fostering the development of advanced technologies, supporting start-ups and investing in research and development (R&amp;D). The revised plan devotes 26% of its total allocation to support the country&#8217;s digital transition.<\/p>\n<p style=\"text-align: justify;\">The modified plan includes several new measures related to advanced digital technologies, with strategic investments across the entire value chain of advanced microprocessors, from R&amp;D to manufacturing. Significant investments will also support the scaling up of technological start-ups, improving access to finance for companies in the audiovisual sector, as well as promoting the use of new technological tools in the media sector. Additional investments, including in cybersecurity, will boost the digitalisation of the water management sector and of public administration.<\/p>\n<p style=\"text-align: justify;\">The modified plan&#8217;s important\u00a0<strong>social dimension<\/strong>\u00a0<strong>has also increased<\/strong>. In addition to the transformative reforms and investments of the original plan, new measures include increased supply and easier access to housing, attracting foreign talent and facilitating the entry into the country of skilled migrant workers. Improving the animal and human health standards for transport and the sustainable use of antibiotics in the livestock industry are also covered.<\/p>\n<p style=\"text-align: justify;\"><strong>More information: <a href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/es\/ip_23_4700\">European Commission<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Commission has given a positive assessment of Spain&#8217;s modified recovery and resilience plan, which includes a REPowerEU chapter. The plan is now worth \u20ac163 billion (\u20ac83 billion in loans and \u20ac80 billion in grants) and covers 111 reforms and 142 investments. Spain&#8217;s\u00a0REPowerEU chapter\u00a0consists of\u00a0a new\u00a0reform, a\u00a0scaled-up investment\u00a0drawing on three existing measures,\u00a0and\u00a0seven new investments\u00a0to deliver [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":111143,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[4090,346,4088],"tags":[1133,1488,806],"class_list":{"0":"post-140889","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy-finance","8":"category-eu-news","9":"category-market","10":"tag-comision-europea","11":"tag-european-commission","12":"tag-spain","13":"entry"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Commission endorses Spain&#039;s \u20ac163 billion modified recovery and resilience plan | CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cde.ual.es\/?p=140887\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Commission endorses Spain&#039;s \u20ac163 billion modified recovery and resilience plan | CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda\" \/>\n<meta property=\"og:description\" content=\"The Commission has given a positive assessment of Spain&#8217;s modified recovery and resilience plan, which includes a REPowerEU chapter. The plan is now worth \u20ac163 billion (\u20ac83 billion in loans and \u20ac80 billion in grants) and covers 111 reforms and 142 investments. 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