The Government has formally requested the fifth payment of Next Generation funds from the European Commission this Friday. As the Minister of Economy, Commerce and Business, Carlos Body, advanced, the request has not been made for the 7.2 billion euros planned for this phase of the Recovery, Transformation and Resilience Plan, but for a total of 25,000 million euros. between direct transfers and loans under advantageous conditions, as Spain has advanced the fulfillment of milestones and objectives that were associated with subsequent disbursements.
Among the advanced milestones are two reforms recently approved by the Council of Ministers, such as the new Industry Law and the Pharmaceutical Industry Strategy for the period from 2024 to 2028. The total amount requested would amount to more than 25,000 million euros, 15% of the total funds allocated to Spain. Of that amount, 9,100 million gross (8,000 million net) would arrive in the form of subsidies -from non-refundable transfers- and another 16,000 million gross as loans (15,900 million net).
In the department headed by Carlos Body they explain that the acceleration in the execution of the Spanish Recovery Plan will be possible thanks to the modification of more than 30 measures of the initial document that has already obtained a “positive preliminary assessment” from Brussels and which must also be subject to subsequent definitive approval by the European Council, that is, by the twenty-seven European heads of State or Government.
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