The allocation of European funds in the Balearic Islands now exceeds 1,000 million euros.

Aug 4, 2022 | Current affairs, Featured, Thursday Daily Bulletin, Tradition

The Balearic Islands have already received more than 1 billion euros in Next Generation European funds. In total, 721 million euros have already been allocated from the Recovery and Resilience Mechanism (RRM) and nearly 300 million euros from React-EU funds. Of this, more than one billion euros, which practically quadruples the investment allocated in 2021, some 676 million are managed directly by the autonomous community and another 45 million are implemented directly by the State, through the Recovery and Resilience Mechanism, while 299 million euros come from React-EU funds.

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“We are very pleased to be the leading autonomous community in the execution of European funds and to have reached this figure in allocation for the Balearic Islands. From the Office of Strategic Investments, which is part of the Department of European Funds, University and Culture, we are doing a great job so that the arrival of European funds improves the lives of the people of our territory since they translate into social improvements, improvements in public health, new schools, aid for digitisation, promotion of the circular economy and sustainability and a long etcetera, in order to reach the milestones set by the European Union with the Agenda 2030”, stressed the Minister Miquel Company.

Among the projects promoted in this period are the works on the Eivissa halt and the new Palma wastewater treatment plant, as well as the inauguration of the renewable hydrogen plant in Lloseta. Other instruments in the second package of measures in the shock plan include the Bono social eléctrico, with 16,193 recipients in the first half of the year, and the 15% increase applied to 12,144 holders of non-contributory pensions in the archipelago.

Among the main investments of this period for the archipelago are 197 million for innovative projects in renewable energies, self-consumption and electric mobility; another 28 million for the implementation of the environmental ORA in Palma and the public bicycle rental service in Eivissa, or the 50 million euros to improve the competitiveness of tourism. On the other hand, projects of special interest have been promoted, such as the works on the Eivissa halt and the new water treatment plant in Palma, and the inauguration of the renewable hydrogen plant in Lloseta.

Also of note are the more than 57 million euros that will go towards active employment policies for the citizens of the Balearic Islands, and the almost 19 million euros earmarked for the Vocational Training Modernisation Plan. The nearly 27 million euros of the MOVES III programme allocated to the islands and the 5 million euros of the Corresponsables Plan – which includes funding according to insularity criteria – are other notable investments that have been authorised, until now, in 2022.

The funds have also made it possible to protect the economy and the population from the effects of the war in Ukraine; almost 5,000 people on the islands have received 200 euro aid for the unemployed or people on low incomes. This is one of the measures of the National Response Plan, which also maintains the additional 15% of the Minimum Vital Income, which benefits 15,107 people in the archipelago. With regard to the IVM, 4 inclusion itinerary projects will be developed on the islands, reaching 1,235 direct beneficiaries.