NextGenerationEU

The Next Generation EU Plan (NHEU) or Recovery Plan of the European Union includes the main strategic axes and the financial instruments, with a total of 750.000 M€, which the member countries have been given to face the reforms that allow them overcome the social and economic crisis resulting from the Covid-19 pandemic and transform their economies into a key to the future.
In terms of financial instruments, the Next Generation Plan foresees the Recovery and Resilience Mechanism (MRR) and the REACT-EU. These instruments are added to the resources already provided for in the European Union budget, such as cohesion funds.
The MRR makes €27 M available to the 672.500 countries of the European Union, which are distributed in accordance with the national plan that each state must present, and which, once evaluated by the European Commission, is approved by the Council of the EU. In the case of Spain, on July 13, 2021, the Council of the EU approved the Spanish Recovery, Transformation and Resilience Plan, which has a budget of €69.528.050 million.
The Recovery, Transformation and Resilience Plan (PRTR) is structured around 4 major axes:
1. Ecological transition
2. Digital transformation
3. Social and territorial cohesion
4. Gender equality
Royal Decree-Law 36/2020, of December 30, establishes the urgent measures for the modernization of the Public Administration and for the execution of the Recovery, Transformation and Resilience Plan, with specific provisions for programming, budgeting , management and execution of actions that can be financed with European funds. Likewise, the Government of Catalonia has approved Decree-Law 5/2021 which simplifies and streamlines the procedures necessary to manage Next Generation EU European funds in Catalonia.
Regarding the REACT-EU funds, with an allocation of €47.500 M (€12.436 M for the Spanish State), it aims to respond to the economic and social impact of the pandemic with employment programs, investment in health products and services, SMEs, investments in infrastructure that provide basic services to citizens and economic measures in the regions most affected by the pandemic.



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