Monday, November 28

The European Commission denies that the funds to Spain have been frozen

On this Friday afternoon, the agency Bloomberg He pointed out that Spain is behind in the creation of an audit mechanism for the Recovery Plan. He even hypothesized a blockade of further deliveries of the funds. Government sources denied this in statements to And just a few hours later, the European Commission confirmed that in no case “funds have been frozen” for our country.

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In Brussels they stress that Spain has met “all the milestones and objectives for the payments of the Recovery Plan to date” and recognize that there is a commitment to review the audit system for these deliveries.

For its part, the economic information agency had advanced that the European Commission had warned the Spanish government of having exceeded the last extension to have it ready. Executive sources affirmed that the milestone was satisfied in the second delivery of money on July 29 and that only “some developments” are missing, in line with the subsequent reaction from Brussels.

According to sources from the Ministry of Finance, Spain is “on time” to request the third disbursement of European funds, something that is expected to happen before the end of the year.

From the Ministry itself they have recognized that it is a complex process, since the decentralization of fund management is an element that complicates it. For this reason, the Treasury assures that the dialogue with the European authorities is “fluid and constant” and the European Commission is aware that Spain is working, in collaboration with the Tax Agency, on improvements to information systems.

The commitment to develop a mechanism was not a problem for the disbursement of the second installment of the Recovery Plan just a few weeks ago. And according to the reaction of the European Commission to which elDiario has had access, “this is not an unusual practice: other member states have made similar commitments.” And they conclude: “These commitments are only evaluated at the time of the corresponding payment requests.”

More than 70,000 beneficiaries

The mechanism is collected as milestone 173 of the Recovery Plan agreement and literally contemplates the “application of a system that allows uploading the Recovery, Transformation and Resilience Plan and the information on the application and monitoring of the achievement of milestones and objectives”.

In addition, that it serves to “prepare the management statements and the audit summary, as well as the payment requests”, and, finally, to “collect and store data on beneficiaries, contractors, subcontractors and effective beneficiaries, in accordance with the article 22 of the Regulation on the Recovery and Resilience Mechanism”.

Recently, the first vice president and Minister of Economic Affairs, Nadia Calviño, reported in the Congress of Deputies that Spain is leading the deployment of the Recovery Plan in Europe, with more than 70,000 companies, local entities, universities, research centers and technological beneficiaries.

31,000 million in transfers

The vice-president explained that the execution of the funds “has already reached cruising speed, with more than 18,800 million euros in investments authorized until mid-September and more than 15,350 million committed”.

“Spain leads the implementation of the Recovery Plan in the European Union, being the first to receive the first two payments, conditional on meeting milestones and objectives. In this way, Spain has received more than 31,000 million in transfers”, he pointed out. And he added that “the next disbursement, for an amount of 6,000 million euros, will be conditioned to the fulfillment in the second half of 2022 of twenty reforms and nine investments”.

Additionally, the Ministry of Economic Affairs and Digital Transformation is working on the preparation of the Addendum to the Recovery Plan, which will include new reforms and investments that will be financed from the 7,700 million euros of additional transfers and the 84,000 million euros in loans.