The EU will allocate 20,000 million euros more to climate policies

The budget of RepowerEU, the instrument that will finance Russia’s green energy transition and energy independence, is expanded. Spain will receive about 2,600 million of these new resources.

The 27 and the European Parliament agreed in the early hours of Wednesday to extend with 20,000 million euros the subsidies to help meet the objectives of the Paris climate agreement and promote the energy transition and thus reduce its dependence on fossil fuels from Russia.

Spain would correspond to about 2,600 million of these new resources, which are part of the Repower EU plan that the European Commission presented after the start of the Russian war in Ukraine and that requires member states to update their recovery plans with new chapters with climate initiatives.

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