The current unprecedented crisis situation, caused by COVID-19, is completely changing the foundations of the world economy.
Given this situation, and to help alleviate the economic and social damage caused by the pandemic, the European Commission has promoted the creation of several funding programs including the EU Next Generation Fund.
Next Generation EU is a European Recovery Fund that will involve an investment of 750,000 million euros, between loans and transfers during the period of 2021 and 2027, in order to finance initiatives from multiple sectors that are aimed at promoting digital transformation, industrial competitiveness, sustainability and the green pact, etc.
The investments mobilized by the European Union will be channeled through three pillars. The first pillar focuses on supporting Member States to recover, repair the damage and emerge stronger from the crisis, this will be developed through the mechanism of recovery and resilience, helping the recovery of cohesion and territories of Europe and supporting the ecological transition. The second pillar is focused on relaunching the economy and supporting private investment, carried out through the reinforced InvestUE programme and the new solvency support instrument. The last pillar aims to learn from the crisis and address the strategic challenges of Europe through the new program of Health and the reinforcement of rescue.
Spain, with an investment of 140 billion from the EU Next Generation Fund, has launched the Plan for Recovery, Transformation and Resilience for Spain, which outlines a route for modernization and recovery of economic growth, job creation, sustainability, digitalization and modernization of the business fabric, social cohesion and equality. This entails a significant volume of both public and private investment over the next few years.
In order to elaborate a plan and be able to access the European fund, the project to be presented has to comply with multiple aspects proposed by the European Union, therefore, what will be most valued will be the contribution of each project to each of the strategic axes. Accessing these funds is not easy and we recommend all interested companies to seek advice for the review of requirements and criteria and for the drafting of the plan.
In IDP we have value proposals around the central axes of the program, such as digitalization and sustainability, in addition we have extensive experience in innovation projects and development of proposals for European funds. Therefore, we would like to accompany you as a partner in the development of these projects and thus promote innovation, digitization and resilience in your organization.