The President of the Government, Pedro Sánchez, has conveyed to the other Heads of State and Government of the European Union his intention that an additional year be granted to the European Next Generation funds, with the aim of maintaining the investment momentum in electrification and renewable energies.
Upon his arrival at the second day of the informal leaders' summit taking place in Nicosia (Cyprus), he stressed that Europe needs more resources to "continue with the electrification and with the green energy transformation" of national economies.
With this purpose, it has proposed to its community partners to extend the recovery funds "from six to 12 months", so that they extend beyond August of this 2026, the date initially set for their conclusion.
Sánchez defends that this energy transition process will reinforce the EU's resilience. "It is the lesson from all these energy shocks derived from wars," he indicated before the start of the working session, in which the leaders plan to analyze the Commission's proposals to respond to the economic impact of the war in Iran and the closure of the Strait of Hormuz.
(More to come)