It replaces the Balearic Islands Investment Strategy 2030 (EIIB2030) due to the need to change the focus and create a new strategy.
The sum of the sources of financing aligned with the MEIIB30 amounts to 5,301 M€, which will allow financing investments for a total of 5,479 M€.
The Consell de Govern has approved the new Strategic Investment Framework for the Balearic Islands 2030 (MEIIB30), which replaces the Balearic Islands Investment Strategy 2030 (EIIB2030) approved by agreement of the Consell de Govern on 4 October 2021. The Regional Ministry of Economy, Finance and Innovation, after an exhaustive analysis of the limitations and objectives defined in the EIIB2030 and the investment needs of the Islands, has determined the need to change the focus and create a new strategy.
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The Consell de Govern approves the new Strategic Investment Framework for the Balearic Islands 2030
The previous strategy proposed up to 4.64 billion euros in investments for the recovery of the Balearic Islands, but the investment and transformation expectations have not translated as expected. The main projects that have been carried out were linked to the React-EU funds, which ended in December 2023, and to the MRR funds, which end in 2026 and are limited by their rigidity, lack of adapted objectives in the regions and very tight deadlines. Moreover, the EIIB2030 did not provide funding for many of the projects it defined.
Thus, financial availability decreases drastically from June 2026 onwards, making it necessary to plan and monitor investment funds. MEIIB30 is conceived as a dynamic and adaptable methodology, designed to address emerging challenges and thus to evolve throughout its lifetime.
The new MEIIB30 is structured in three key axes, which are the pillars, and four cross-cutting priorities, which are the values that have to guide investment decisions towards the objective of economic sustainability – axis 1, competitiveness; environmental – axis 2, sustainable development; and social – axis 3, cohesion and equality ─.
Each of the key axes has been assigned several strategic lines. In total 7 Strategic Lines have been defined, covering investment policy, such as, for example, technology and knowledge society or agile and proximate administration.
At the third level, the specific objectives (90) assigned to the Strategic Lines are the guidelines for public policies, which serve as a basis for the implementation of strategic actions and projects that each area of government will have to develop, adjusting to the existing financial availabilities.
Each investment action shall be embedded in at least one main area according to the priority area on which it has an impact. In addition, it may be linked to other additional areas related to its implementation. The areas defined are 23, such as the water cycle, education, security and emergencies, health and welfare, among others.
MEIIB30 has three types of funding sources: European (e.g. cohesion policy funds), national (e.g. the insularity factor) and regional (e.g. the sustainable tourism tax). The estimated total sum of the specific funding sources of the Autonomous Community to carry out investments aligned with the MEIIB30 until 2030 amounts to 5,301 million euros, which will allow the financing of investments totalling 5,479 million euros.