STO Mallorca and European Next Generation EU Funds

The STO Mallorca was created within the framework of the Spanish Government's Recovery, Transformation and Resilience Plan of the Government of Spain, with European funds with European Next Generation EU funds aligned with the FMT strategic plan.

The Recovery, Transformation and Resilience Plan, Spain Can, is the fundamental instrument for the development of the European Next Generation EU recovery funds and represents the most important boost in Spain's recent economic history. The Plan focuses on the first phase of implementation and details investments and reforms over the period 2021-2023, mobilizing close to €70 billion of transfers from the Recovery and Resilience Mechanism in order to boost recovery and achieve maximum counter-cyclical impact.

The Recovery Plan lays out the roadmap for the modernization of the Spanish economy, the recovery of economic growth and job creation, following the COVID-19 crisis, as well as to prepare the country to face the challenges of the future.