EuropeOn Danish member association TEKNIQ Arbejdsgiverne welcomes the 672.5 billion Euro recovery package, to which the European Parliament has just given the green light. This package will lead to massive investments in, among others, the green and digital transformations.

The European Parliament has recently approved a “Recovery and Resilience Facility” to help EU countries deal with the effects of the corona crisis. A package of 672.5 billion Euro (DKK 5,000 billion).

“It is a major agreement that can have an enormous impact on the course we have set here in Denmark – both in terms of paving the way for the green transition and to get the economy back on track after the corona pandemic. With the agreement, the EU is doing its part to accelerate development – at least when it comes to reducing greenhouse gas emissions and digitalizing our society” says Troels Blicher Danielsen, CEO of TEKNIQ Arbejdsgiverne, which represents approximately 4,100 companies in electricity, plumbing and metalcontracting.

This Facility forms the bulk of the EU’s Next Generation recovery package totaling € 750 billion Euro, and the money will be made available in the form of grants and loans to finance national initiatives.

“It is really good that the money in today’s package is, among others, earmarked for initiatives that can spurthe green and digital transitions. These are two areas where Danish companies are at the forefront, but also areas where competition has become much tougher” says Troels Blicher Danielsen.

It is now up to the government to draw up a detailed plan for how it wants to prioritize the allocated EU funds. However, climate measures must account for at least 37 percent of spending from this plan and digital initiatives for at least 20 percent.

“It is important that the government, together with the Folketing (Danish Parliament), provides clarity as soon as possible on exactly how they want to spend the money, so that Danish companies can also prioritize their resources and efforts in the best possible way for the benefit of both business and the Danish economy. At the same time, it is important that plans and initiatives are based on a broad political agreement, ”says Troels Blicher Danielsen.

You can read this article in original language on TEKNIQ Arbejdsgiverne’s website.