RE: Shake, shake, shake...22 Sep 2021 05:31
https://www.mondaq.com/economic-analysis/1112780/spain39s-recovery-and-resilience-plan-
The break down is very significant
with the following breakdown of funds: urban and rural agenda (20.7%), infrastructures (15%), green transition (9.2%), modernisation of the public administration (6.2%), companies' digitalisation (23.1%), science and innovation (7.1%), education (10.5%), care of people and employment policies (7%), culture and sport (1.2%), and modernisation of the tax system (7%).
This breakdown complies with the European Regulation's minimum requirement that at least 37% should be devoted to environmental protection and 20% to the digital transition.
There are potentially 3 which we come under
urban and rural agenda (20.7%)
green transition (9.2%
companies' digitalisation (23.1%)
LR was going on aged about how the mining sector is changing, we’re definitely in the green sector and also rural and urban just about where we are.
3.1 Tools for the distribution of the funds
The funds from the RRF, according to the Royal Decree-Law, will be distributed under three different lines:
Strategic Projects for Economic Recovery and Transformation (known as "PERTES", in Spanish), which constitute a new public-private partnership instrument that identifies projects of a strategic nature, with a significant potential for the rest of the Spanish economy. They require the collaboration between administrations, companies and research centres and are subject to a very specific criteria (e.g. combining knowledge, experience and financial resources to remedy important market failures and presenting an innovative character in terms of R&D).
Grants, for the financing of private assets, through competitive calls for proposal. They require public-private financing.
Contracts, for the financing of public assets, through call for tenders. Financing can be 100% public or public-private (concessions).
Although the distribution of the funds will be governed by the general regulation, the Royal Decree-Law introduces several flexibilities to the standard operating procedures (e.g. urgent processing or less strict rules on economic and technical solvency in tendering procedures).
In addition, as specified by the Royal Decree-Law and by Regulation 2021/241 in its recital 8, the funds received from the RRF are subject to EU State aid rules. Consequently, Spain is expected to notify to the European Commission the measures that constitute State aid, unless they are covered by one of the rules set out in the State aid block-exemption regulation.
3.2 How to access the funds?
The funds from the RRF are open to all companies, there is no specification by sector or type of activity beyond that determined by the sector's fit with the objectives of the plan. The Royal Decree-Law identifies three public-private partnership instruments for the implementation of the funds:
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