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Brussels approves transferring the first 10 billion of European funds to Spain

Spain is about to receive the first injection of European funds Next Generation . The European Commission has approved this Wednesday the transfer of 10,000 million euros from this mechanism that the Government had already received at the end of the year. This is the first six-monthly disbursement of this type to arrive from Brussels, which had already paid Spain 9,000 million euros as an advance to pre-finance the recovery plan that the Government of Pedro Sánchez .

“This is very good news that confirms Spain's leadership in the deployment of the European recovery plan and coincides with the acceleration of execution of the most important investments and reforms, “celebrated the First Vice President and Minister of Economic Affairs and Digital Transformation, Nadia Calviño . “The recovery plan is a unique opportunity for the modernization of our country, to achieve a strong and sustained recovery that puts Spain at the forefront of the new green and digital economy, which improves the social and territorial structure and leads us to growth more inclusive, “he added.

With this transfer, the European Union complies with the commitment it acquired with Spain to pay this year 19,000 million of the 70,000 million that the country would have to receive until 2026. This was agreed by both parties in June, when Brussels gave the green light to the Recovery Plan Spanish that depends economically on this package. In fact, this first disbursement was linked to Spain guaranteeing compliance with various reforms that the Government was actually already underway, such as the minimum vital income (IM V).

Although these 19,000 million are less than volume that the Government incorporated into the State Budgets of 2021 on account of this fund, 27,000 million euros, Pedro Sánchez already advanced at the time that the more than 7,000 million difference is an “acceptable” amount for the Spanish Treasury.

Following transfers

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The disbursement schedule assigned to Spain designed by the European Commission includes two new deliveries in 2022 (12,000 million in June and another 5,000 in December); another two in 2023 (10,000 million in June and another 7,000 in December); a delivery of 8,000 million in June of 2024 and two more in 2025 (3,000 million in June and 4,000 in December).

“In the Government we will continue working to comply with the schedule agreed with the European institutions, “said Calviño on Wednesday. The objective, he added, is that “the plan reaches all citizens, especially with the youngest in mind.”

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