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How to apply for Next Generation funds

Knowing how to apply for Next Generation funds is important to be able to access the aid derived from them. This money, from the European Union, seeks economic recovery after the pandemic and is being distributed through different aids.

The funds will be delivered to the States progressively. The distribution of money began in 2021 and will not end until 2026. In order to access it, governments had to present at the time a plan that provided for the actions that were to be carried out.

How to make a plan to be able to access Next Generation funds

In the case of Spain, the access plan has been called the Recovery, Transformation and Resilience Plan. A document that includes the strategy to be followed to channel European funds.

The agreement was approved by the Council of Ministers on April 27, 2021, and was published in the BOE on April 30. Thus complying with the obligation imposed in Regulation 2021/241, of February 12, 2021, which established that the States of the Union interested in benefiting from the Recovery and Resilience Mechanism had to send their national plan to the Commission before April 30.

The plan prepared by the Spanish Government is focused on the first phase of execution, and details the investments and reforms to be carried out in the period 2021-2023, in order to have access to almost 70 billion euros.

Pillars of the european regulation

The measures contained in the document take into account the pillars defined by the European regulation and are articulated around four axes: ecological transition, digital transformation, social and territorial cohesion, and gender equality.

These four axes will be developed through ten lever policies related to the urban and rural agenda; resilient infrastructures and ecosystems; energy transition that is fair and inclusive; Administration for the 21st century; modernization and digitization of the industrial fabric; science and innovation; education and knowledge; economy of care and employment policies; promotion of culture and sport; modernization of the tax system to achieve inclusive and sustainable

In turn, the lever policies integrate 30 components or lines of action to coherently articulate the priority initiatives of structural reform. For example, the shock plan for sustainable mobility, or digital connectivity, with a boost of cybersecurity and the deployment of 5G.

When it comes to how to apply for Next Generation funds, States must not only have a recovery plan, but must demonstrate that they are carrying out the measures provided for in it and that the money is reaching the final recipients. That is why European Commissioners are doing different inspections in the EU Member States.

How to apply for Next Generation funds

Once the States have accessed the money from the European Union, they are implementing different aid programs that are articulated through:

Direct investment

Through the tender of a construction contract.

Calls from the autonomous communities

They can distribute the money through aid, subsidies or tenders.

Direct subsidies

According to the order of submission of the applications or the best project.

When it comes to Next Generation funds in Spain and how to apply, interested parties must wait for the publication of the call for aid that is of interest to them and then request it following the requirements established in the bases of the same, which may be different in each case.

However, one of the objectives pursued is that the aid reaches the hands of the natural or legal persons receiving them and, precisely for this reason, an important effort has been made to make the application system as simple as possible.

The Kit Digital: Implementation of Next Generation funds

Based on the example of the Digital Kit, which is one of the measures implemented with Next Generation funds, requests are answered in order of arrival and all processing can be done online. Applicants only have to prove that they meet the requirements established in the call.

What you have to keep in mind is the calendar. These grants have a temporary duration and the calls establish the period within which the funds can be requested. Once it is exhausted, nothing can be requested.

In the case of aid that is distributed according to the order in which it is presented, it is advisable to submit the application as soon as possible, since if the funds are exhausted, the program will end earlier than expected.

Advance in the digital transformation of the business

Once it is clear how to apply for Next Generation funds, the next step is to define how you want to advance in the digital transformation of the business, to know what aid is interesting to apply for.

At Acceleralia we help our clients finance their projects through personalized financing programs adapted to their needs and preferences. Our highly trained and experienced consultants can help at every step of the process, identifying and selecting appropriate funding programs. We also offer a wide range of financing programs available in the market. If you are looking to finance your project, contact us today to find the right financing program for you.