loading

News

NextGenerationEU: Commission makes first payment to Spain and receives first payment requests from Italy and Greece

NextGenerationEU: Commission makes first payment to Spain and receives first payment requests from Italy and Greece
04 January 2022

On December 27, the Commission made the first payment to Spain of €10 billion in non-reimbursable financial support (excluding pre-financing) under the Recovery and Resilience Facility (RRF). Spain's payments under the RIF are performance-based and depend on Spain's implementation of the investments and reforms outlined in its Recovery and Resilience Plan.

On November 11, Spain submitted to the Commission a first payment request for €10 billion for 52 milestones covering several reforms in the areas of sustainable mobility, energy efficiency, decarbonization, connectivity, public administration, skills, education and social policy, labour, and fiscal policy. On December 3, the Commission adopted a positive preliminary assessment of Spain's payment request. The positive opinion of the Council's Economic and Financial Committee on the payment request paved the way for the Commission to adopt a final decision to disburse the funds.

The overall recovery and resilience plan for Spain will be financed with € 69.5 billion in grants. Payment amounts to member states are published on the Recovery and Resilience Scoreboard, which shows progress in implementing the overall RRF and individual recovery and resilience plans.

Moreover, the Commission has received in December the first payment requests from Greece and from Italy, for a disbursement of €3.6 billion and of €21 billion respectively. The Commission now has two months to assess the requests. It will then send its preliminary assessment of both countries' fulfilment of the milestones and targets required for this payment to the Council's Economic and Financial Committee (EFC).

Image © European Commission

News

Related news

The Commission has adopted the 2022 work programme of Creative Europe, which will be followed by the launch of the relevant calls for proposals. With a budget of...
More details Creative Europe programme has increased budget in 2022
January 10
2022

New EU SME fund launched

Today, the Commission and the European Union Intellectual Property Office (EUIPO) launched the new EU SME Fund, which offers vouchers for EU-based SMEs to help them protect...
More details New EU SME fund launched
The Commission proposed to establish the next generation of own resources for the EU budget by putting forward 3 new sources of revenue: the first based on revenues from...
More details Commission proposes EU own resources

Stay in touch with us!

For more information about our services and working opportunities at our company, do not hesitate to: