Next Generation funds
Next Generation Funds. RRF
The Next Generation EU programme is the greatest demonstration of the effort made by the European Union to respond in a unified, coordinated manner to one of the worst social and economic crises in recent history and to help the Member States to recover from the harm caused by the COVID-19 pandemic. It was approved by the European Council in 2020 and 750 billion Euro were allocated to it. The primary mechanism of the programme is the European Recovery and Resilience Facility, with a total of 672.5 billion Euro (312.5 earmarked for non-repayable financial support for Member States and 360 for loans to them), which, together with the Recovery Assistance for Cohesion and the Territories of Europe (REACT-EU) and the other instruments in the Multiannual Financial Framework 2021-2027, is intended to encourage reforms and investment in priority areas in Europe. In response to the requirements set by the EU for the different Member States to access the RRF, on 30 April 2021, the Spanish Government presented the Recovery, Transformation and Resilience Plan (PRTR, for its initials in Spanish), which was approved by the EU College of Commissioners on 16 June 2021 and then on 13 July the same year by the Economic and Financial Affairs Council (ECOFIN). Over the course of six years (up to 2026), through this Plan, almost 140 billion Euro (69.528 as non-refundable transfers and, potentially, more than 70 in the form of RRF loans), together with funds from the other financial instruments in the Multi-Annual Financial Framework 2021-2027, will mean a level of investment greater than at any other time in this country’s history, with four clear major objectives: ecological transition, digital transition, social and territorial cohesion, and gender equality.
The Recovery, Transformation and Resilience Plan envisages a variety of investment actions in the Port of A Coruña related with accessibility and sustainability.
