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European Funds FAQs
What are the requirements and deadlines for companies to access EU funds?
Will specific financial conditions be required for project selection?
From what has been seen in the windows that have been opened in the different ministries, the requirements and criteria will be discretionary to each of them. Even so, the general guidelines that all projects should comply with a priori are as follows:
- The funds should be used for productive investment and not for financing current expenses.
- Projects must have an innovative dimension; updates or new versions of assets will not be considered key projects.
- They are intended for sustainable investments: i.e. the projects will remain operational/will be self-financing after this initial investment.
Do you need to commit to adding or keeping more staff?
At the moment there are no details on whether there will be requirements associated with hiring personnel or anything similar.
Can listed companies access these grants?
Being a publicly traded company is not an impediment to accessing these funds.
What will be the deadlines for submitting the projects?
Call bases are starting to be published, but the timing is not yet clear and calls will be published in the coming months. As an example, the Strategic Lines call that closed on 18 May was already charged to Next Generation funds. With regard to the PERTE Projects, the registry of interested entities is scheduled to open in June. This will be the previous step to the calls.
When will it be necessary to submit the investment project in some detail and objectives?
During the first months of 2021, many EOIs (Expressions of Interest) have been published, mainly to compose the roadmap that is currently being evaluated in Brussels by the Commission. It is expected that as of next June, second phases associated with the Expressions of Interest will begin to open. These will have been transferred to specific calls, where it will be necessary to define the project in more detail (objectives, impact and itemised budget).
Who will control these aids and compliance with the requirements?
All aid is subject to the justification for carrying out the actions that have been indicated, if at this point we add that the amounts will be quite high, the review of these justifications will be detailed.