NextGenerationEU: Commission makes first payment to Spain and receives first payment requests from Italy and Greece
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
14 January 2022
10 January 2022
27 December 2021