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During 2021-2027, Spain green transition will be supported with 37.3 billion euro in Cohesion Policy funding to accelerate finance innovation and digitisation, increase the employment rate and improve local social services.
The strategy will mainly focus on less developed regions: 50% of the funds will be allocated to investing in Andalusia, Extremadura, Castilla-La Mancha, Ceuta, and Melilla. For its part, the Canary Islands, as an EU Outermost Region, will receive an additional allocation of €673 million to tackle the socio-economic consequences of its remoteness from the EU mainland.
More than €9 billion under the European Regional Development Fund (ERDF) will be invested in the country’s green transition towards a resource-efficient, climate-neutral, and competitive economy. At the same time the ERDF will make €3.3 billion available to help Spain achieve its target to produce 74% of electricity from renewable sources by 2030.
Moreover, €8.5 billion under the ERDF will boost growth, competitiveness and productivity of small and medium-sized businesses via investments promoting research and innovation in sectors with a high added value.
€11.3 billion under the European Social Fund (ESF) will be invested in social cohesion and employment.
