The European Investment Bank (EIB) and the European Commission signed agreements totaling EUR 4 billion on February 28, including a guarantee agreement that will mobilize up to EUR 3.5 billion in loans and EUR 500 million in Trust Fund contributions to African, Caribbean and Pacific (ACP) countries by 2027. The agreement marks an important step […]
Read More
The visit to Spain by the European Parliament’s Committee on Budgetary Control to evaluate the recovery funds comes to an end
The delegation met with members of the Spanish Government, including Nadia Calvinho, First Vice-President and Minister of Economy and Digital Transformation; María Jesús Montero, Minister of Finance and Public Administrations; and José Luis Escrivá, Minister of Inclusion, Social Security and Immigration. They also met with parliamentarians from Castilla-La Mancha, Madrid, Extremadura, Andalusia and Aragon, as […]
Read More
The Council will include REPowerEU chapters in the Recovery and Resilience Facility
The Council formally adopted a regulation modifying the Recovery and Resilience Facility to include REPowerEU chapters. The goal is to increase the EU’s strategic autonomy by diversifying its energy supplies and ending its reliance on Russian fossil fuel imports. This is the last step in the adoption process. In practise, under NextGenerationEU, member states will […]
Read More
European Commission approves €460M aid to ArcelorMittal Spain to support decarbonisation of its steel production
The European Commission has approved a €460 million Spanish measure under EU state aid rules to help ArcelorMittal España (“ArcelorMittal”) to partially decarbonise its steel production. The support will help achieve the objectives of the EU Hydrogen Strategy and the European Green Pact and reduce dependence on Russian fossil fuels and accelerate the green transition […]
Read More
European Commission approves third €6 billion payment to Spain under the Recovery and Resilience Mechanism
The European Commission has approved a positive preliminary assessment of Spain’s request to pay a grant of EUR 6 billion. 6 billion (net pre-financing) under the NextGenerationEU main instrument: Recovery and Resilience Mechanism (RRM). Spain submitted a payment request to the European Commission on 11 November 2022 based on the achievement of the twenty-four milestones […]
Read More
Member States update EU list of non-cooperative jurisdictions for tax purposes
On 14 February 2023, EU Member States agreed on the latest update the EU list of non-cooperative jurisdictions for tax purposes. Following the update, Annex I of the EU list is made up of 16 jurisdictions due to their lack of commitment to improve their tax good governance or due to the lack of progress […]
Read More
European Commission signs agreement with ICO to invest €150 million in sustainable infrastructure in Spain
The European Commission and the Instituto de Crédito Oficial (ICO) signed an agreement under the InvestEU guarantee scheme for up to €75 million. The guarantee package will help leverage ICO funding of up to €150 million to invest in sustainable infrastructure in Spain and other Member States. This public investment is expected to mobilise an […]
Read More
European Comission publishes the Winter Economic forecast for Spain
Spain weathered relatively well the negative shocks unleashed by Russia’s war of aggression against Ukraine in 2022. The resilience of the economy was underpinned by the strong rebound in tourism over the summer season and dynamism of private consumption, also supported by positive labour market developments. Compared to the Autumn Forecast, growth for 2022 is […]
Read More
Commission clears creation of a joint venture by Deutsche Telekom, Orange, Telefónica and Vodafone
The European Commission has approved unconditionally, under the EU Merger Regulation, the creation of a joint venture by Deutsche Telekom AG Orange SA, Telefónica S.A. and Vodafone Group plc. The Commission concluded that the transaction would raise no competition concerns in the European Economic Area (‘EEA’). The joint venture will offer a platform to support […]
Read More