EU: Additional €12bn for Spain

The European Commission has agreed to a new portion of the Spanish recovery plan, for a total amount of €12 billion. The Commission considers that the conditions for the release of these funds have been met.

The President of the European Commission, Ursula von der Leyen, announced on Monday the release of an additional €12 billion for Spain. This aid is in line with the advances received by the country in 2021 (of 9 and 10 billion euros).

The Commission considers that Spain meets the necessary conditions for the granting of this financing. In total, Spain had to fulfil a total of 40 milestones. These were notably linked to labour market reforms, as well as the consolidation of public accounts.

The Spanish government has already announced that the country will apply for all or part of the loans to which it is entitled in the second half of the year.

Euractiv | Brussels approves €12 billion EU aid for Spain, green-lights reforms