Spain to receive €12 BILLION from EU in latest recovery fund

Spain to receive €12 BILLION from EU in latest recovery fund Credit: Creative Commons

Brussels has given the green light to the latest recovery fund for Spain, with the nation set to receive a whopping €12 BILLION.

The European Commission announced the go-ahead for a second tranche of €12 billion for Spain’s recovery funds.

The funding still has to be approved by EU member states within the next four weeks for it to be officially confirmed.

Previously Spain received nine billion euros and €10 billion at the end of 2021.

The approval and arrival of the current funds would put Spain’s recovery fund figures at an incredible €31 billion which totals almost half of the €69.525 billion in the EU’s recovery fund.

Spain submitted a payment request to the EU Commission in which they “provided detailed and comprehensive evidence demonstrating compliance with the 40 milestones and targets,” the Commission said.

Spain has also confirmed that “the measures related to the previously satisfactorily met milestones and targets have not been reversed”.

The Commission has “thoroughly” assessed this information before submitting its positive preliminary assessment of the payment claim, the statement said.

The request also includes the approval of the roadmap for offshore wind energy and other offshore energies; the Strategy for Safe, Sustainable and Connected Mobility, the Charter of Digital Rights, the entry into force of the RD-Law for the protection of workers engaged in home delivery activities using digital platforms or fiscal measures to accelerate the deployment of the 5G network.

Measures have also been implemented to strengthen resilience, economic growth and territorial cohesion.

These include  the modernisation of the Tax Agency, the approval of the Action Plan for Primary and Community Care and the improvement of the functioning of the food chain, as reported by 20minutos.


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Written by

Joshua Manning

Originally from the UK, Joshua is based on the Costa Blanca and is a web reporter for the Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]

Comments


    • Naimah Yianni

      28 June 2022 • 12:34

      How is this country ever going to pay it all back? Look what happened to Greece – now they have no control over their own country and half the infrastructure is foreign owned. Not a good state of affairs

      Reply

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