Commission disburses fourth payment of EUR 9.9 billion to Spain under the Recovery and Resilience Mechanism

The Commission last week disbursed the fourth payment of EUR 9.9 billion (net of pre-financing) in grants to Spain under the Recovery and Resilience Mechanism (RRM).

As with the other Member States, payments made to Spain under the RRM are performance-based and depend on Spain’s implementation of the investments and reforms outlined in its recovery and resilience plan.

On 20 December 2023 Spain submitted to the Commission the fourth request for payment of EUR 10 billion under the RRM, covering 44 milestones and 17 targets. They correspond to various reforms in areas such as green and digital transition; smart, sustainable and inclusive growth; and economic, institutional and social resilience and territorial cohesion, such as pension reform and unemployment support. The payment also covers investments in areas such as digital and ecological transition, research, development and innovation, as well as education and vocational training.

On 12 June 2024, the Commission approved a positive preliminary assessment of Spain’s payment claim, having found that all but one of the objectives had been satisfactorily met. The opinion of the Economic and Financial Committee on the payment claim has facilitated the adoption by the Commission of a decision on the disbursement of the funds linked to the 60 milestones and targets that have been considered satisfactorily met, i.e. EUR 9.9 billion.

Regarding the outstanding target on the digitisation of enterprises, the Commission welcomes the first steps Spain has already taken, although more work remains to be done. Spain now has six months to meet this target.

Overall, Spain’s recovery and resilience plan will be financed with ¤163 billion, corresponding to ¤80 billion in grants and ¤83 billion in loans. More information on Spain’s recovery and resilience plan can be found on this page, which presents an interactive map of the projects funded by the RRM, as well as on the recovery and resilience scoreboard. More information on the processing of payment claims under the RRM can be found in this Q&A document.

Source: European Commission