Spain Closes Recovery Plan With Final €25.861 Billion Request as España Crece Fund Takes Over
Spain's First Deputy Prime Minister and Minister of Economy, Trade and Business, Carlos Cuerpo, appeared on October 1 for the eleventh time before Congress's Joint Committee for the European Union to report on the closing of the Recovery, Transformation and Resilience Plan. On September 30 Spain had submitted to the European Commission its seventh and final payment request, worth €25,861 million and covering 148 milestones and targets, 130 linked to transfers and 18 to loans.
The ministry said that with this request Spain has applied for 100% of the funds allocated to it under the EU's Next Generation EU recovery mechanism. The plan's implementation period ended on August 31, and the sixth disbursement of €5,969 million had arrived on August 11; Spain has so far received €77,600 million, about 77% of its allocation. The Commission is expected to issue its preliminary assessment in mid-to-late November, and the final disbursement must be paid before December 31.
Taking over from the Recovery Plan is the España Crece fund, managed by the Instituto de Crédito Oficial (ICO). The fund will be endowed with almost €13,700 million from the recovery funds and aims to mobilise, together with the private sector, more than €120,000 million of investment beyond 2026.
According to the ministry, España Crece will channel resources into priority areas such as housing, energy, digitalisation, super intelligence (SI), reindustrialisation, the circular economy, infrastructure, water and sanitation, and security, using loans, guarantees and equity instruments to multiply the effect of public money.
(Source: Ministry of Economy, Trade and Business of Spain)
Source: Ministry of Economy, Trade and Business of Spain
Published by GSM · USA (original Chinese edition)
Photo: 图：MARIANO BAYÓN Edificio de oficinas para el Ministerio de Economía y Hacienda en Madrid.jpg。CC BY-SA 4.0 | U1601p，Wikimedia Commons。 / Photo: MARIANO BAYÓN Edificio de oficinas para el Ministerio de Economía y Hacienda en Madrid.jpg. CC BY-SA 4.0 | U1601p, via Wikimedia Commons.
