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Meet the Next Generation EU Programme

01 Mar 2022. 09:42
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The European Union creates a temporary instrument to repair the economic and social damage caused by the Covid-19 pandemic. We tell you what it consists of and what benefits it brings to your SME. 

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Conoce el programa Next generation EU

In order to cope with the economic and social consequences of the pandemic, the European Union and the Member States have taken certain measures to respond to these circumstances and to boost the convergence, resilience and digital transformation of the European Union. 

Among these measures is Next Generation EU, a temporary instrument designed to boost economic recovery, aimed at implementing a recovery plan that will lay the foundations for a greener, more digital and resilient Europe in the wake of the pandemic crisis.  

To achieve this, it has been agreed to invest 750 billion euros, of which Spain will receive a total of 140 billion (52% non-repayable and 48% in loans), making it the second country to benefit most from these funds. 

The Next Generation Programme has two central axes: 

Recovery and Resilience Mechanism (RRM) 

The purpose of the RRM is to support investment and reforms in Member States to achieve a sustainable and resilient recovery. At the same time, it establishes the core of the Recovery Fund and is endowed with EUR 672.5 billion, of which EUR 360 billion will be in the form of loans and EUR 312.5 billion as non-refundable transfers.  


These are the four main objectives of the MRR: 

  • Apoyar las transiciones ecológicas y digitales.  

  • Promote the economic, social and territorial cohesion of the EU. 

  • Strengthen the resilience and adjustment capacity of Member States. 

  • Mitigate the social and economic impacts of the COVID-19 crisis.  

  • Support green and digital transitions. 


Each EU Member State must design its own National Recovery and Resilience Plan in order to achieve the objectives of the MRRF, thus including in the same Plan the reforms and investment projects necessary to achieve these objectives. 

As previously mentioned, Spain will receive an amount of 140 billion euros, as foreseen in its Recovery, Transformation and Resilience Plan. This Plan will place a strong emphasis on investments and reforms in the first phase of the Next Generation EU plan, which covers the period 2021-2023. 


React EU 

React EU is the Recovery Assistance for Europe's Territories and Cohesion and is an initiative that continues and expands crisis response measures.  

The REACT-EU package includes 55 billion euros of additional funding to come from the Next Generation EU programme in 2021-2022. 

This initiative will provide additional funding for key sectors. This will involve investments for job maintenance and creation, for youth employment measures, for health care systems and to provide working capital and support investment in SMEs. 

How to access Next Generation funds in Spain? 

Projects eligible for European funding must be aligned with the following concepts: 

  • Digital Transformation 

  • Green Transition 

  • Equality 

  • Social and territorial cohesion 


In addition, funds, grants and loans will always relate to projects closely linked to modernisation and innovation and to the ecological and digital transition.  

Therefore, SMEs and companies wishing to obtain subsidies should frame them according to the premises of the Recovery, Transformation and Resilience Plan.  The 10 premises of the Plan are as follows: 

  1. Urban and rural agenda. 

  1. Resilient infrastructures and economies. 

  1. Just and inclusive energy transition. 

  1. An administration for the 21st century. 

  1. Modernisation and digitalisation of the industrial fabric and SMEs, as well as the recovery of tourism and the promotion of an Entrepreneurial Spain. 

  1. Strengthening the capacities of the National Health System. 

  1. Education and knowledge, lifelong learning and skills development. 

  1. New care economy and policies. 

  1. Boosting the culture and sports industry. 

  1. Modernisation of the tax system for inclusive and sustainable growth. 

To access current grants or obtain more information, you can visit the official website of Next Generation EU. Don't think twice and join the digital change! 

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