On Monday 2 October, the European Commission approved Spain’s revised post-Covid-19 recovery plan, which now has an overall budget of €163 billion, including €83 billion in preferential loans (see EUROPE 13196/32).
Under this plan, 40% of the financial allocation will be earmarked for climate objectives. The reforms include plans to combat desertification, improve waste management and reduce food waste. The investments will help to regreen certain geographical areas and strengthen the circular economy.
A ‘REPowerEU’ chapter, designed to accelerate the energy transition and the EU’s independence from Russian hydrocarbons, will aim to simplify the procedures for granting permits for renewable energy production, increase storage capacity and encourage the decarbonisation of industry.
See the Commission’s positive analysis of Spain’s revised recovery plan: https://aeur.eu/f/8tk
See the revised Spanish recovery plan: https://aeur.eu/f/7b5
Bulgaria. On Friday 29 September, Bulgaria submitted a revised draft recovery plan to the Commission, with €5.69 million now allocated solely in the form of grants and including a ‘REPowerEU’ chapter.
As a result of the reduction in the plan’s initial budget allocation, the scope of certain investments has been scaled back, particularly in terms of energy efficiency and the modernisation of hospital infrastructure, or even abandoned, such as the construction of an intermodal transport terminal in Ruse.
Further information: https://aeur.eu/f/8tl
Since the launch of the Recovery and Resilience Facility (RRF), the Commission has disbursed €153 billion in financial support for national post-Covid-19 recovery plans. Five countries (Germany, Bulgaria, Finland, Ireland and Luxembourg) have not submitted a revised plan including a ‘REPowerEU’ chapter. (Original version in French by Mathieu Bion)