Spain is asking the European Commission to release an additional €12 billion under the recovery plan, in line with the planned timetable.

The second payment – on top of the first €10 billion and the €9 billion in pre-financing – is directly linked to the fulfilment of the objectives outlined in the Spanish Recovery Plan submitted to the European Commission and scheduled for the second half of 2021.

Once the request is made, the approval can take between four and five months. The European Commission will have “two months” to study all the documents and verify that the committed reforms and investments have been carried out since this payment is linked to the fulfilment of the milestones scheduled by the Spanish government for the second half of 2021.

Spain requests second payment of EU funds | EURACTIV