Next Generation Funds

The Next Generation EU program is the largest demonstration of the European Union's effort to respond jointly and coordinately to one of the worst social and economic crises in our recent history and to help Member States repair the damage caused by the COVID-19 pandemic. It was approved by the European Council in 2020 and is endowed with 750 billion euros. The main instrument of the program is the European Recovery and Resilience Mechanism, endowed with a total of 672.5 billion euros (312.5 billion for non-repayable transfers to Member States and 360 billion for loans to them), which, together with the Recovery Assistance for Cohesion and the Territories of Europe (REACT-EU) and the rest of the instruments provided for in the Multiannual Financial Framework 2021-2027, is intended to promote reforms and investments in priority areas at the European level.

In response to the EU's requirement for the various Member States to be able to access the RRM, on April 30, 2021, the Spanish Government presented the Recovery, Transformation and Resilience Plan (PRTR), which was approved by the EU College of Commissioners on June 16, 2021, and finally on July 13 of the same year by the Economic and Financial Affairs Council of the EU (ECOFIN). Through this Plan and over a period of six years (until 2026), nearly 140 billion euros (69.528 as non-repayable transfers and potentially over 70,000 in the form of RRM loans) will represent, together with funds from the remaining financial instruments forming part of the Multiannual Financial Framework 2021-2027, an investment volume greater than at any other time in our history, with four main clear objectives: ecological transition; digital transformation; social and territorial cohesion; and gender equality.

A total amount of aid totaling 456 million euros has been allocated to the state-owned port system in order to finance actions related to accessibility and sustainability.