Strategic projects managed by industry receive more than €5 billion in the addendum approved by the European Commission

For the Ministry of Industry, Trade and Tourism, this milestone represents a reinforcement of its policies to promote Spanish industry, which is undergoing a transformation towards more sustainable and digital production systems.

Brussels has given the go-ahead for more than €5 billion for several of the EERPs managed by this ministry. For example, the recently approved addendum allows for an increase of €1.25 billion in the PERTE for the Electric and Connected Vehicle, PERTE VEC, (€1 billion in loans and €250 million in grants). This new allocation will be managed in a third call of the PERTE VEC at the beginning of 2024.

The Industrial Decarbonisation PERTE will also benefit from the addendum, with an allocation of €2.7 billion (€1.7 billion in loans and €1.02 billion in grants). The call for the first line of aid, aimed at comprehensive action for decarbonisation, is expected to be published this month and will be allocated €1 billion. For its part, the ministry is working on a fourth line of support for the development of new highly efficient and decarbonised manufacturing facilities, which it hopes to promote before the end of the year.

Regarding the PERTE for the Agri-Food Industry, PERTE AGRO, the addendum includes €610 million (€460 million in loans and €150 million in grants) for the modernisation, sustainability and digital transformation of the agricultural sector, promoting aspects such as food traceability and the automation of industrial processes. Last, PERTE Salud de Vanguardia, managed by several ministries such as Health, Science and Industry, will be allocated €830 million.

For the Minister for Industry, Trade and Tourism, Héctor Gómez, "the approval of the addendum will give a boost to the new industrial revolution in which Spain is already immersed. Investment power and reform momentum are unprecedented thanks to the European funds, which will provide security and growth to the Spanish economy in years marked by common challenges. Our agenda and Europe's support will lead to higher growth and long-term sustainability.

€1 billion for the TURIMPULSA Plan and support for SMEs

A billion euros will also be channelled through the addendum to the new ICO Companies and Entrepreneurs Line, which will be used to finance investments in the business fabric under favourable conditions.

These loans will allow companies to meet their financing needs and mitigate the potential effects of tighter credit conditions, while maintaining the flow of finance. It will also allow the development of alternative means of financing for SMEs, thereby facilitating the financing of their growth.

Within the ICO Companies and Entrepreneurs line, the tourism sector will have a €1 billion compartment aimed at the TURIMPULSA Plan, which Minister Héctor Gómez presented to the sector last June. This line covers four of the policy areas of European importance (ecological transition, digital transformation, smart growth, and social and territorial cohesion). In this respect, the facility will provide financing to tourism enterprises, in addition to conventional financing to enable them to carry out their investment projects.

European funds to strengthen the industrial ecosystem

The current economic and geopolitical context makes it essential to move towards the intensification of strategic autonomy, a key element for the dual green and digital transition. In total, the Recovery Plan will mobilise up to €163 billion in the period 2021-2026, more than 12% of Spain's GDP, in addition to the €36.7 billion from the Structural Funds of the multiannual financial framework 2021-2027 to complete an ambitious programme of investments to modernise the country.

To achieve the objective of strategic autonomy, the Strategic Projects for the Recovery and Transformation of the Economy (PERTE) are of vital importance.

With the addendum, 69 milestones and targets are updated in response to objective changes in economic circumstances and requests from the autonomous communities to allow for the full implementation of NextGenerationEU funds, thereby ensuring their impact.

Spain continues to lead the implementation of the Recovery Plan. The country has already received €37 billion in European funds, 80% of which (€30 billion) has been awarded in calls for grants and tenders for works and services, which are already financing more than 500,000 investment projects. The fourth disbursement of €10 billion will be requested soon.

Non official translation