Spain is the first member of the EU to receive the second tranche of funds

SPAIN is the first member of the EU to receive the second tranche of funds from the Recovery Plan.

This latest payment which amounted to €12 billion was paid on July 29 following Spain’s formal request for these funds on April 30.

“This is very good news that reaffirms Spain’s leadership in the deployment of the Recovery Plan in Europe.

“The European Commission continues to endorse the government’s roadmap with significant investments and reforms in key areas such as education and vocational training, labour market, sustainable mobility, connectivity and the deployment of 5G to put Spain at the forefront of the new green and digital economy”, said Minister of Economic Affairs and Digital Transformation, Nadia Calviño.

Also commenting on this latest payment, the Minister of Finance and Public Administration, María Jesús Montero said “Spain once again demonstrates that it is a country that meets its commitments and will be the first to receive the second disbursement of the Recovery, Transformation and Resilience Plan.

“This Government has managed to launch the largest modernisation project in Spain and we will not cease in our goal of building a more socially just, more digital, more productive and greener country.”

Part of the funding received will be be utilised in the Labour and public pension system reforms which are an important part of the government’s ongoing commitments.

As at the end of June 2022, the Spanish Recovery Plan has already helped finance more than 28,800 projects throughout Spain in which more than 19,000 companies, more than 5,500 local authorities and more than 2,000 educational establishments and technology centres have taken part.

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