Puig hails Euro billions
The Valencia parliament will be briefed on the region’s projects
THE EU coronavirus recovery package is a ‘neverseen-before’ step forward for Europe, Spain and the Valencia region, according to Valencia president Ximo Puig – with Spain set to receive some €140 billion.
EU leaders struck a deal early on Monday morning which will see €750 billion in grants and loans to counter the impact of the pandemic.
Sr Puig echoed the words of PM Pedro Sánchez, who said: “This will put us on the road to great period of modernisation and it puts Europe where it deserves to be – in the vanguard, with nobody left behind.”
With the Valencia region expected to receive several billion euros from the agreement over the coming years, Sr Puig said that the reconstruction fund presented a ‘great opportunity’ for the Valencia region.
He said he would appear in the Valencia parliament in the coming weeks to give more information on the ‘basic European projects’ for which cash is available.
These include the transition to renewable energy production, ‘digitalisation’ and strengthening frontline public services – which ‘will be orientated towards job creation and social justice’.
Since the EU first mooted the idea of such a fund in May, a number of regional government departments have been ‘working intensely’ and are ‘already preparing projects’ to be submitted for financing.
“For a region which is profoundly European, this is a great deal,” said Sr Puig.
“This has confirmed the strength of the European project that we form a part of and which has been vitally important for the progress of Spain and the Valencia region.”
He also contrasted the
European response to the current crisis to that of 2008 ‘when the EU chose austerity and restrictive measures’ to tackle the financial crisis which started in that decade.
However, ‘this time they have fortunately taken a positive step for the citizens of the Union’. He added that it was necessary for EU countries to ‘all move forward together’ because ‘all of us win with unity’.
The EU package
The deal centres on a €390 billion programme of grants to member states hardest hit by the pandemic, with Spain and Italy expected to be the main recipients.
A further €360 billion in low-interest loans will be available to member countries.
The package includes checks that the funds will not be misused.
Recipients will have to submit spending plans to the European Commission, and a majority of states will be able to block projects.
The package will now face technical negotiations by members and will then have to be ratified by the European Parliament.