The key element of Next Generation EU is the Mecanismo de Recuperación y Resiliencia (MRR), an instrument designed to grant grants and loans to support reforms and investments in the Member States of the European Union. In order to receive funds in this framework, Spain has developed the RPlan de Recuperación, Transformación y Resiliencia in which it describes how it will invest it.

The measures to be financed with these aid are structured in 6 pillars: ecological transition; digitalization; smart, sustainable and inclusive growth; social and territorial cohesion; health, economic, social and institutional resilience; and policies for future generations.

In addition to this central item (MRR), the rest of Next Generation funds come through other European Union programmes, such as Recovery Aid for Cohesion and the Territories of Europe (REACT-EU), Horizon Europe, InvestEU, the European Agricultural Fund for Rural Development and the Fair Transition Fund. (FTJ).

SMEs and self-employed individuals can access the Next Generation funds through various mechanisms: direct fund-loss aid, loans under favourable conditions or projects through contests. On the official websites of the Government of Spain and of the Govern of the Balearic Islands you can find – through their search engines – all the calls published to date aimed at SMEs and autonomous workers of Mallorca: 

• https://planderecuperacion.gob.es/como-acceder-a-los-fondos/convocatorias
• https://www.caib.es/sites/oie/es/empreses/

Anyone can benefit from the EU budget. You can search for ongoing and upcoming calls for funding proposals, obtain general information on funding procedures and programmes and apply for financing online if you know the procedures of the European Commission.

Chamber of Spain has developed a complete informative web with documentation of interest on how the Next Generation funds are managed and how the projects should be presented, that can be access form here.