The President of the Government, Pedro Sánchez, has announced the creation of a sovereign fund called ‘Spain Grows’, with a budget of €10.5 billion, to continue the achievements made possible by the Next Generation European funds. Sánchez made this announcement during his closing speech at the Spain Investors Day, an event that examined the situation of the Spanish economy and opportunities in areas such as defence, security, health, and the digital sector. He stated that the transformation of Spain would not have been possible without the Next Generation European funds, promoted in the European Union as a response to the coronavirus pandemic. However, these resources will be depleted this year, and he declared that the Government has begun to take measures to continue with the transformative drive. He announced the creation of a sovereign fund, which he will present next Monday alongside the Minister of Economy, Carlos Cuerpo, with the aim of prolonging the momentum of the Recovery and Resilience Plan beyond 2026. The goal is to extend energy transformation, advance digital transition, invest in the development of human capital, and promote reindustrialisation across all regions.
