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What has happened with the Next Generation EU (NGEU) European funds in Spain?

Spain is the second largest recipient of NGEU funds, with a total budget for 2021-2026 of 163 billion euros, roughly half in the form of grants that do not have to be repaid and half as loans (specifically 79.8 billion euros in grants and 83.2 billion euros in loans).


As of today, a total of 37.04 billion euros already been transferred from Europe, all from the grant portion. The distribution by sectors is as follows:



Looking at the end of 2022, we can see all the grants awarded is Spain and their share of NGEU funds, and we have the following distribution by type of beneficiary:



Of the NGEU funds allocated just 22% of the aid has been granted to companies:


If we analyze the top 10 recipient companies of these funds, we have the following table:


This top 10 represents more than 25% of the funds that companies have received, and several of them are public, such as RTVE, Renfe, or the Municipal Company for Urban Actions of Valencia.


Thus, less than one-fifth of the awarded funds go to the private sector. To put these figures into perspective, the Spanish National Research Council (CSIC) received 347 million euros in 2022, of which 156 million came from NGEU funds.


Funds for companies have been primarily channeled into recurring aids and instruments (a smart way of using tools that the industry is already familiar with in a complex sector) and also through large initiatives called 'Pertes' (which are divided into various calls for proposals). To date, 30 billion euros have been approved in these instruments, with the following distribution:


Fragmented across different intermediate bodies, with a variety of rules depending on the funding agency, it is not easy to have, even today, a clear plan of calls for proposals, with their budgets and cut-off dates for the coming years, as is the case with other bodies such as the European Commission.

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