Brussels greenlights Spain's recovery plan to access €69.5bn of European funds
First €9bn payment due at end of July once plan is approved by EU finance ministers
First €9bn payment due at end of July once plan is approved by EU finance ministers
Ecological transition, digitalization, gender equality and social cohesion are scheme's priorities
Half of the 14 Spanish projects selected by the European Commission from the State are from Catalonia. The 7 innovative SMEs, or small and medium enterprises, will receive a total of €9 million to launch their projects and receive business advice along the way. The Commission selected 50 SMEs across 14 different countries to invest €73 million in after phase 2 of the Horizon 2020 SME Instrument. In Spain, the 14 SMEs selected focus their projects primarily in the areas of information and communication, transport, energy efficiency, and food production. Since the start of the instrument in 2014, this has been Spain’s most successful year, with the 14 selected projects receiving €15.4 million — more than any other country in the programme.