The European Union has decided to boost its budget to help with growth and the recovery, and Spain is the country that will receive the most funds.
What the Next Generation European funds are
The EU had intended to establish a budget to develop Europe between 2021 and 2027. Because of the COVID-19 crisis, that budget has been increased by 750 billion euros. This increase is what is known as the Next Generation funds.
The goal is to relaunch the economy in the short term and improve productivity and growth potential in the medium and long term.
When will the Next Generation EU funds be available?
In anticipation of receiving the European Funds, Spain's national budget has already allocated 26.634 billion euros for 2021.
The grants will be administered through the central, regional and local governments. The first calls for proposals could be announced before the summer.
How you can take advantage of this opportunity
The funds are intended basically for self-employed workers, companies and corporations, which are main drivers of the economy and the creators of employment.
The main eligibility condition is that the investment be used for projects related to:
- Sustainability: renewable energy, energy efficiency, sustainable mobility, etc.
- Digitization: infrastructure, education, cybersecurity or artificial intelligence.
- Cohesion and equality: education, health, infrastructure for the disabled and to promote culture and sport.
We want to make it easy for you to receive the funds
We at BBVA will contribute all our skills and experience in order to enhance the positive effect of these funds. We are firmly committed to continue being a part of the solution to the current crisis.
The recovery plan is still in the design phase, but you can get ready and start defining your projects in keeping with the priorities that will be covered by the funds (sustainability, digitization, cohesion and equality).
What we at BBVA can offer
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There is still much to be decided, and increasingly specific news and information will be provided. If you are interested, you can sign up and stay up to date on all the news.
Next Generation Newsletters
Latest news on the Next Generation Funds
What aid programs will the Next Generation EU funds be used for?Explore the seven programs that make up the Next Generation EU funds, which will mobilize 750 billion euros to finance the rebuilding of Europe.
European grants: what sectors can take advantage of them?Explore the European grants that will encourage the growth of sectors associated with strategic areas for the future of the region, such as the energy transition, the circular economy, sustainable mobility and digitization.
Boosting the Spanish economy: a look at the Spain Can PlanThe Spanish government has already set out a general outline for using the recovery funds that will finance this new boost to the economy. Find out more!
Guidelines of the Spain Can PlanWe'll explain what they are, based on the recommendations made by the European Union, and how they'll be administered to ensure their proper use. Enter BBVA and find out more.
What role do the Next Generation EU funds play in the Spanish national budget?Find out how much the EU has earmarked for the European funds intended to help the economic recovery and how they are included in the 2021 Spanish national budget.
What is the 2021 Regional Incentives Program and what does it include?We'll explain what it is and how it promotes business activity while correcting potential imbalances between regions through a combination of European and national grants.
The conditions of the Next Generation Funds are subject to the legal criteria set out by the European Union and/or the Government of Spain.