Brussels pays Spain the second payment of 12,000 million European funds

Brussels pays Spain the second payment of 12,000 million European funds

The European Commission has confirmed the delivery of the second disbursement to Spain corresponding to the NextGenerationEU funds for a value of 12,000 million euros.

According to a Twitter post by the president of the community body, Ursula Von der Leyen , the payment is made “for the advancement of reforms and investments in the digital economy, health, education, the labor market, and the restructuring of public finances, among others.” .

This release of funds will be added to the 9,036 million euros of pre-financing from mid-August last year and the 10,000 million euros of the first disbursement, received in 2021.

To unlock, Spain has had to meet 31 milestones and nine objectives that have been met throughout the second half of 2021.

Sánchez highlights the news in his balance

In his speech at the presentation of the balance of the political course, the President of the Government, Pedro Sánchez, has indicated that it is “excellent news” and that “it demonstrates the fulfillment of our commitments with the modernization and progress of the country”.

The disbursement comes after the approval of the EU countries, through the Economic and Financial Committee (EFC), and the last approval of Brussels through the commission of the Recovery and Resilience Fund.

Spain has been the first EU country to make a formal request to receive the second disbursement on April 30. This section corresponds to the implementation of measures to transform and rebalance labor relations and the pension system in the Spanish economy, among which the labor reform and the reform of the public pension system stand out.

After the payment of these 12,000 million euros, the disbursement to Spain amounts to 31,000 million euros, which represents 44% of the total funds that correspond to it. Spain’s Recovery and Resilience plan will be financed with 69.5 billion euros in grants.

Melissa Galbraith
Melissa Galbraith is the World News reporter for Globe Live Media. She covers all the major events happening around the World. From Europe to Americas, from Asia to Antarctica, Melissa covers it all. Never miss another Major World Event by bookmarking her author page right here.