In this article, we have decided to completely change the subject to talk about… money. Specifically, the Next Generation funds. Our intention is to explain how Arantec’s technological solutions align with the strategic pillars established by these multimillion-dollar grants.
It is no secret that the coronavirus pandemic has dealt a severe blow to the global economy. For this reason, and aware of the need to ensure a swift recovery, the European Union has decided to, in plain terms, “break the piggy bank” and create financial aid programs. The goal is to restore the economies of the member states to pre-pandemic levels, but also to make progress in areas related to sustainability and the fight against climate change.
The European Union emerged from the ashes of a continent devastated by World War II. And although the current circumstances are far from the consequences left by armed conflicts, it is essential not only to rebuild but to build better to adapt to what lies ahead. Arantec also wants to contribute to this monumental task.
What are the Next Generation funds?
If you follow the news closely, it’s very likely that you have heard something about these funds. However, it’s also possible that you don’t know exactly what they are. So, first of all, let’s explain what they are and what goals they pursue.
The European Next Generation Recovery Funds are a one-time instrument endowed with 750 billion euros aimed at boosting economic recovery after the pandemic, with a special emphasis on environmental sustainability, digitalization, and resilience. Spain, along with Italy, is set to be one of the major beneficiaries of the Next Generation funds. In total, the Spanish state, including the long-term budget of the EU or Multiannual Financial Framework 2021-2027 (MFF), will receive around 200 billion euros.
As seen in the attached infographic, there are two main channels for the economic aid to be channeled:
- Recovery and Resilience Mechanism (RRM), which includes direct transfers and loans. To access this funding instrument, it is necessary to present a national recovery plan. This document should be aimed at maximizing growth, creating employment, increasing social and economic resilience, and advancing ecological and digital transition.
- Recovery Assistance for Cohesion and the Territories of Europe (REACT-EU), which represents the continuation of the Coronavirus Response Investment Initiative and the Coronavirus Response Investment Initiative Plus.
Through these channels, Spain will receive 69,500 million euros and 10,898 million euros, respectively.
Plan for Recovery, Transformation, and Resilience of Spain, the key that opens the door to European funding
As we mentioned in the previous section, the presentation of a national recovery plan is a necessary condition to access the largest portion of European subsidies, the MRR. In the case of Spain, this strategy has been designed around 4 cross-cutting pillars.
- Ecological transition, aimed at redirecting the productive model towards a more sustainable and decarbonized system.
- Digital transformation, which seeks to improve skills and drive technology in the field of society and economy.
- Social and territorial cohesion, aiming to address the demographic challenge and revitalize rural areas through the strengthening and creation of systems that improve the quality of life for citizens.
- Gender equality, focused on equalizing opportunities and reducing the digital gender gap.
These 4 cross-cutting pillars are materialized through 10 leverage policies and 30 components distributed as follows:
How do Arantec’s solutions fit into the different components of the Plan?
It is evident that climate change poses challenges with unpredictable consequences. However, the need to adapt and increase resilience to extreme weather events or changes in precipitation patterns, to mention two manifestations of this phenomenon, also opens up business opportunities, as our CEO, Eisharc Jaquet, recently mentioned on Lleida TV.
La respuesta de Arantec frente al reto de reconstruir y construir mejor
To provide a clear summary of what we offer at Arantec, we have created the following table. On one side, we list our flagship solutions, and on the other side, the corresponding components with which we are a match. While we have the ability to address many other challenges and are ready to answer your inquiries and concerns, this time we have chosen to highlight our Smarty Planet innovation range as it is one of our key features.
Conclusion
At Arantec, we are already prepared to tackle the challenge of advancing sustainability, adapting to climate change, and increasing resilience against the impacts of extreme weather events. We have the technology, the necessary expertise, and a healthy dose of imagination to jointly seek the best solutions.
If you believe that our solutions align with your needs and our services can bring value to any project that can benefit from the Next Generation funds, do not hesitate to contact us. We are confident that we can find a way to collaborate and contribute together.
