Spain | Recovery, Transformation and Resilience Plan (RRTP): implementation in 2021

Summary

The Recovery, Transformation and Resilience Plan is a unique opportunity to undertake the investments and reforms needed to transform the Spanish economy. It will mobilize more than €69 billion until 2026, financed by transfers from the NextGenerationEU's Recovery and Resilience Mechanism (RRM).

Key points

• Key points:
• The Plan will mainly be used to support the green transition -40% of the total planned- and digital transformation -30%-.
• In addition, Spain can access a maximum of 70,000 million euros in loans that the MRR makes available to the EU. The government is already working on an addendum to the Plan, which includes the application for these loans within the 2023 budget cycle.
• The Plan made slow progress in 2021. The central government has recognised obligations under the Plan for 83% of what was planned for that year, but payments are only 45% of what was planned.
• In 2021, 31% of the recognised obligations have been allocated to transport, mobility and the urban agenda, and 25% to energy transition and the demographic challenge.
• The Autonomous Regions have already received more than €11 billion. Andalusia, Catalonia and Madrid account for 42% of the funds allocated. The distribution could be favoring regional convergence.

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