By Deirdre Tynan • 17 August 2021 • 14:28
Pedro Sanchez and Ursula von der Leyen.
Image: La Moncloa
The first disbursement under the EU’s Recovery and Resilience Facility (RRF) plan is a decisive moment for Spain, said EU President Ursula von der Leyen.
The European Commission on August 17 disbursed €9 billion to Spain in pre-financing. The Commission will authorise further disbursements based on the implementation of the investments and reforms outlined in Spain’s recovery and resilience plan. The country is set to receive €69.5 billion in total, fully consisting of grants, over the lifetime of its plan.
President Ursula von der Leyen said, “Today’s disbursement is a decisive moment for Spain and its people, kicking off the implementation of the recovery and resilience plan. This plan was ‘made in Spain’ to emerge stronger from the crisis and invest in a sustainable and more digital recovery. I am convinced that Spain’s ambitious plan will provide a crucial push for the European Green Deal to become a reality, it will further digitalise the economy and it will make Spain more resilient than ever. We stand ready to support you in each step of the way.”
Johannes Hahn, Commissioner for Budget and Administration, added, “After three very successful bond issuances under NextGenerationEU over the past few weeks, and the first payments for other NGEU programmes, I am glad that we have now also reached the disbursement stage for the RRF. Intense cooperation with Spain and solid preparation within the Commission allowed us to pay out the funds in record time. This shows that with the resources raised, we will be able to swiftly deliver on the pre-financing needs of all Member States, thus giving them the initial boost in implementing the numerous green and digital projects included in their national plans.”
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Deirdre Tynan is an award-winning journalist who enjoys bringing the best in news reporting to Spain’s largest English-language newspaper, Euro Weekly News. She has previously worked at The Mirror, Ireland on Sunday and for news agencies, media outlets and international organisations in America, Europe and Asia. A huge fan of British politics and newspapers, Deirdre is equally fascinated by the political scene in Madrid and Sevilla. She moved to Spain in 2018 and is based in Jaen.
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