Business & Economy

Spanish gov’t provides 7.6 billion euros for direct investments in mobility

Madrid, Jun 7 (EFE).- The Spanish government has already mobilized more than 7.6 billion euros from its post-pandemic recovery plan to boost direct investments in transport and mobility, a sector undergoing a transformation as it faces the challenge of sustainability, according to Spain’s Minister of Transport, Mobility and Urban Agenda, Raquel Sánchez.

Sánchez spoke to Efe about the plan, adding that the transformation process is being accelerated by the continuous rise in fuel prices, which are at a record high.

Sanchez said that 11 billion of the 16 billion received by her ministry from the Next Generation Funds (made available by Brussels to accelerate the recovery after the pandemic) are to be used to address changes in the current transport model through the development of infrastructure that facilitate safe mobility.

Of this amount, the ministry has already mobilized 7.6 billion for direct investments in transport and mobility, has allocated more than 2.5 billion and has another 4 billion in the tender process.

One objective of the transformation process is for transport and logistics to go from currently representing 10 percent of GDP to 15 percent.

Sánchez spoke about the Global Mobility Call (GMC), a congress focused on sustainable mobility which is to be held in Madrid next week, where proposals are to be presented for collaboration between administrations, for active participation from the public and for promoting innovation in the search for technological solutions, among others.

“The government is determined to support all the ideas from this important international event” which, in her opinion, will showcase Spain as an attractive country for international investment in the face of the global challenge of achieving a “more resilient, safer and more modern” mobility. EFE



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