The fixed link project across the Strait will receive 2.3 million euros in European funding.

The update of the preliminary draft for the fixed link project across the Strait of Gibraltar will receive a funding of 2.3 million euros during the period 2022-2025. This funding comes from the transfer of financial resources and obligations related to the Recovery, Transformation, and Resilience Plan, financed by the European Union through the Next Generation EU funds.

This is indicated in the agreement between the Ministry of Transport, Mobility, and Urban Agenda and the Spanish Society for Studies on Fixed Communication across the Strait of Gibraltar, S.M.E., SA (Secegesa), signed on May 23 and published in the Official State Gazette (BOE) on June 16.

Specifically, the agreement establishes the payment, through the budget of the Ministry of Transport, of a transfer of 750,000 euros for the year 2022, the same amount in the budget for 2023, an additional 525,000 euros in 2024, and a contribution of 275,000 euros in 2025. In addition, a Monitoring Commission will be established with two representatives from each party.