The Recovery Plan is structured around four axes (ecological and digital transition, social and territorial cohesion, and gender equality), which articulate ten policy levers, each consisting of thirty components. Within this framework, investment funds(69,528 million euros for the period 2021-2023) have been distributed as follows, with respect to each of the levers:
- Urban and rural agenda, fight against depopulation and development of agriculture: 20.7%.
- Resilient infrastructures and ecosystems: 15%.
- Fair and inclusive energy transition: 9.2%.
- An Administration for the 21st century: 6.1%.
- Modernization and digitalization of the ecosystem of our companies: 23.1%.
- Pact for science and innovation and reinforcement of the National Health System: 6.1%.
- Education and knowledge, continuing education and skills development:10.5%.
- New care economy and employment policies: 7.2%.
- Boosting the culture and sports industry: 1.2%.
- Modernization of the fiscal system for inclusive and sustainable growth.
For its part, the execution process will follow an information and financial control system. Its objectives are to ensure the reliability and achievement of milestones and objectives; to detect and correct fraud, corruption, conflict of interest and double financing; and to build on the systems already in place in the Public Administrations, reinforcing and adapting them to the new approach of the Recovery and Resilience Mechanism.
A three-level control will be carried out:
- Level 1: internal control of the executing agency.
- Level 2: ex ante control by the independent body of the acts of execution of expenditures.
- Level 3: ex post control by means of audits (Intervención General de la Administración del Estado, IGAE)
In terms of organization, the control authority will be the IGAE, the responsible body being the Ministry of Finance. The National Anti-Fraud Coordination Service (of an autonomous nature) in contact with the European Anti-Fraud Office (OLAF), and the computerized management and monitoring systems in terms of milestones and objectives, execution of actions, double financing and register of final recipients will also be part of the system.
So far, 23 expressions of interest have been launched for the private sector, thirteen of which refer to digitalization. On the part of the Autonomous Communities and Municipalities, four expressions of interest have been launched.
Among the prospects for 2022, it is expected to reach cruising speed in Phase I: €26.9 billion from Recovery Plan funds. A cross-cutting impact is also expected from the PGE, as 26 of the 30 components of the plan are reflected in the budget.
As for Phase II, the Recovery and Resilience Facility is endowed with funds earmarked for the granting of non-reimbursable transfers and reimbursable loans that Member States may request until August 31, 2023. Disbursement is made in tranches and is linked to the achievement of committed milestones and targets:
- Identification of potential projects and investments to be financed, which will be conditioned by the percentages of digital (20%) and green investment (37%).
- Design of the optimal financial structure for channeling loan funds: directly through investments or subsidies from the different ministries, or through financial intermediaries.
- Schedule of investments up to 2026 so that multi-year planning can be carried out and a stable framework for financing projects can be integrated into successive PGEs.
