Bulk of EU funds stay in public sector

pedro sanchez preocupado

Until now, the public sector has been the main beneficiary of European Next Generation EU funds. After dodging the issue for several months, the government unveiled the list of the top 100 beneficiaries of these funds mid-afternoon on Friday, as the European Commission had demanded. And, according to the official statement from the Ministry of Economic Affairs, the major recipients of these funds have been public entities, as 60% of the main beneficiaries are of this nature.

The railway infrastructure manager, Adif, has been the entity that has received the most money. The high-speed division received €1,602 million, while its parent company received €952 million. Next came the Ministry of Transport, with €307 million, and INCIBE, the Spanish cybersecurity institute, with €171 million.

To find the first private company to receive funds, one has to go down to eighth place, where Power Holdco, controlled by Seat, has received €97.5 million. The list of private companies also includes Stellantis, Mercedes-Benz, Sapa Operaciones, Gestamp, Renault, Balearia, Técnicas Reunidas, Hub Tech Factory and Axpo.

In total, the 100 largest recipients of the funds represent an investment of more than €5,100 million, which represents nearly 14% of the €37,000 million received so far from the European Union for the fulfilment of milestones and objectives.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.