Brussels receives Spain’s fifth request for the Recovery Facility

Julio García The Commission received this Friday Spain's fifth request for payment under the Recovery and Resilience Facility, for an amount of up to €6.7 billion in grants and €15.4 billion in loans. According to the Commission, these amounts can increase to €8 billion in grants and €15.9 billion in net loans, if the Council formally adopts the revision of the Spanish plan. Spain's request concerns a total of 84 milestones and objectives, 55 of them brought forward from future instalments, and combines the fifth installment of the grant with the first and second installments of the loan. The request covers reforms to boost the green transition, such as increasing renewable energy capacity, improving energy efficiency, improving permitting processes and incentivising the decarbonisation of buildings and the greening of the agricultural sector. It covers measures to support entrepreneurs, strengthen the university system, modernise the judicial system, improve digital support platforms for taxpayers and promote comprehensive tax reform. The request also covers significant investments to boost the green and digital transitions, foster innovation, modernise railway infrastructure and strengthen support for the labour market, the health system, education and universities. The Commission will now assess Spain's compliance with the milestones and targets linked to this payment request and will then share its preliminary assessment with the Council's Economic and Financial Committee. Spain's Recovery and Resilience Plan will be financed with €163 billion in loans and grants.

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