Next Generation EU is one of the EU’s main responses for coming out of the COVID-19 crisis and laying the foundations for a modern, more sustainable and resilient Europe.
Bringing instruments into operation in each member state is not straightforward and requires the approval of new legislation, together with adequate coordination among the various public authorities involved to ensure that the funds transferred have a transformational effect on the real economy.
Garrigues has a multidisciplinary team in place dedicated to guiding companies in this laborious process and we have prepared this special feature to summarize the main regulatory milestones.
What does Garrigues offer?
Garrigues has a large multidisciplinary team who assist companies throughout the process of identifying initiatives, preparing projects and in particular during the process of applying for and managing subsidies and participating in public tenders channeling the arrival of NextGen funds and the private sector.
Spain’s Strategic Projects for Economic Transformation and Recovery (PERTEs) could bring a considerable wave of projects in Spain. They are a new public-private partnership device appearing in the recent legislation on the Spanish Recovery, Transformation and Resilience Plan and to be funded by subsidies and loans from the European Recovery Mechanism (Next Generation EU), which in Spain's case are estimated to amount to €140,0000 million. Professionals practicing in projects and in the particular area of project finance should keep track of how they are taken forward and evolve.