February 24, 2021

European funds for recovery, under discussion at Vocento’s Euroforo



Until recently, say Next Generation EU it meant giving endless explanations. Today, they are no longer necessary. Large, small and medium-sized companies, startups, politicians and investors in Europe have learned the instruction manual for this financial tool designed to cushion the impact of Covid-19. In other words, Europe makes 750 billion euros available as a lifeline for our economies.

Spain is entitled to 140,000 million to promote a process of sustained, digital, ecological and clean energy recovery, as a flag in this reconstruction forced by the coronavirus crisis. How, when, where and in exchange for what these funds will be received are some of the questions that will be put on the table at the Euroforo Vocento which inaugurates, this Thursday, February 11, at 12 in the morning, the third vice president and Minister of Economic Affairs and Digital Transformation, Nadia calviño.

At the discussion table they will participate Margaritis Schinas, Vice-President of the European Commission and European Commissioner for the Promotion of the European Way of Life; Ricardo Mourinho Felix, Vice President of the European Investment Bank (EIB); Miguel Arias Cañete, former European Commissioner for Climate Action and Energy; the former president of the Spanish Government Felipe Gonzalez and the president of Iberdrola, Ignacio Galán.

The Euroforo Vocento, which will be presented by the director of ABC, Julián Quirós, and moderated by Yolanda Gómez, deputy director of the newspaper, will be held at the headquarters of the editorial group and will be broadcast in streaming on the ABC website and the rest of the headers. Over 70 minutes the speakers will analyze the transformation process that Europe is experiencing and the challenges it faces in this transition, green, digital and circular.

April 30 is the deadline to present projects that can benefit from these direct aid or subsidies of 72,700 million euros and of soft loans, estimated at another 67,300 million that make up the Next Generation EU program. The Government has already incorporated 27,000 million to the general state budgets from this fund.

But this recovery plan is not the only resource that Europe risks. Next Generation EU is part of an unprecedented economic package, spread over two other programs. The Multiannual Financial Framework 2021-2017, endowed with 1,074 billion euros, and the Guarantee Fund of the European Investment Bank (EIB) which has a budget of 200,000 million euros. The total amount of this aid, including the Next Generation EU plan, amounts to more than two billion euros. Public administrations, companies and society as a whole participate in this unprecedented and ambitious program.

The distribution criteria and the management of the Government thereof, will also be analyzed in a debate full of questions. In what position is Spain to face the changes that are already underway? What projects, objectives and plans do companies have in mind to access these funds? Will the habits of Europeans change or are they already changing? How will society adapt? How to preserve and generate more jobs in the new world of digitization and artificial intelligence? Finally, will we Europeans manage to incorporate the keywords: digitization, renewable energy and “Green deal” into our daily dictionary?

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