2023-10-19 08:00:12
Los Ministers of Economy and Finance of the European Union have given their approval to the revision of the Spain recovery planthe first step for the disbursement of a total of an additional 93.5 billion euros, 7.7 billion of them in transfers and 83.2 billion euros in loans, to which will be added the almost 2.6 billion euros of the new mechanism to finance the green transition RepowerEU.
Along with Spain’s plan, the Council has also adopted implementing decisions approving the modified recovery and resilience plans of the Czech Republic, the Netherlands, Portugal and Slovenia.
The addendum to the Spanish plan is added to the 37,036 million euros – 9,000 million in pre-financing and 28,000 million in the first three payments – that Spain has received to date and also opens the door to the “imminent” request for the fourth payment of 10,000 million euros, while the entire plan now amounts to 163,000 million euros and covers 111 reforms and 142 investments.
Spain will be able to receive the first 1,400 million euros as pre-financing, equivalent to 20% of the total amount planned for investments and its disbursement will become effective once Spain requests the fourth payment, now that the 27 have given their approval to the decision presented by Brussels on October 2.
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