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European Funds FAQs
How will the implementation of European funds be monitored and through what mechanisms?
Royal Decree Law 36/2020 states that “In the case of the financing of projects managed by private entities, the coordination of such financing must be made conditional on the fulfilment of the objectives set out in the plan, as well as the cost estimates for them. If the expenditure is not incurred or if the planned objectives are not fulfilled in their entirety or in part, the aforementioned entities must reimburse the funds received. The procedure for reimbursement shall be regulated by Order of the Minister of Finance”.
It has been reported that the Ministry of Finance was designing a monitoring and evaluation system that would allocate resources to those projects that prove to be most effective in meeting the EU's objectives, although it is not official at this stage. In this case, every year, the government would evaluate compliance with the objectives set for each of the projects, and could reduce or withdraw the allocation of funds to projects that do not achieve the objectives set, prioritising those that most help Spain to meet the objectives of the plan at the country level.
Who will oversee the effective implementation of the plans?
The Secretariat of European Funds of the Ministry of Finance will be the competent authority for monitoring the implementation of the Plan. The Public Accounts Department of the State Administration (IGAE) will exercise the audit functions.