Recovery, Transformation and Resilience Plan

The European Commission authorises the disbursement of the ten billion euros linked to the achievement of the first 52 milestones of the Recovery Plan

News - 2021.12.22

The European Commission has finally authorised the first disbursement of the Recovery Plan for a total of ten billion euros that the Government of Spain formally made on 11 November through the General Secretariat of European Funds, which is part of the Ministry of the Treasury and Public Function.

The Commission, which had already given a preliminary positive assessment of the documentation submitted by the Responsible Authority, the Ministry of the Treasury and Public Function, thus approves the execution of the first disbursement of the Recovery Plan in a much shorter time than that stipulated in the Recovery Mechanism Regulation itself, which provides for a maximum of three months for its authorisation.

Spain, first country to receive the first disbursement

Spain was the first country in the European Union to make this request and has also been the first country to receive this favourable assessment, which represents the EU's endorsement of the first 52 milestones and objectives of the Spanish Recovery Plan, which is an important step in its implementation.

This first tranche of EU resources is linked to the fulfilment of these 52 milestones, which mainly cover reforms in areas such as sustainable mobility, energy efficiency, decarbonisation, connectivity, modernisation of public administration and R&D (research and development). Particularly noteworthy are specific projects such as the SME Digitalisation Plan 2021-2025, equal pay for men and women, and the Climate Change and Energy Transition Law.

The European Commission confirms that the targets and milestones achieved linked to this first disbursement demonstrate the significant steps Spain has already taken in implementing the Recovery Plan and the broad agenda of reforms that comprise it.

A complex procedure that Spain has fulfilled step by step

The request for the first disbursement of ten billion euros was preceded by the signature and entry into force of the Recovery Plan Operational Arrangements (OA) in November, which establishes the way in which the monitoring of the development of the Recovery, Transformation and Resilience Plan will be organised bilaterally between Spain and the European Commission.

The Government of Spain was also the first to sign this agreement, which must be signed by the 27 European Union countries that are members of the European Recovery and Resilience Mechanism (ERM).

The ten billion euros in the first disbursement will be added to the 9.036 billion euros that Spain received last August as pre-financing, equivalent to 13% of the 69.5 billion euros that the country will receive in the form of ERM grants. In total, more than 19 billion euros will be transferred from the European Commission to Spain this year linked to the Recovery Plan.

Spain has already authorised more than 80% of the 2021 funds.

In relation to the management of the Recovery Plan, as of 20 December, the Government has already authorised more than 80% of the total funds of the Recovery Plan of the 2021 State Budget, the equivalent of more than 20 billion euros, of which 78% has already been committed and 60% has already been recognised as obligations or payment rights. In addition, a total of 11,247 million euros has been transferred to the regional governments, which they will have to execute within the framework of their competences.

This data, together with the authorisation for the first disbursement, demonstrates the great effort made by all the public administrations and managers of the Plan and place our country as a leading country in the management of the Recovery Mechanism at a European level.

The Recovery and Resilience Mechanism approved by the European Union is the largest stimulus package ever funded on the continent: it will involve a total mobilisation of 750 billion euros to help rebuild the post-COVID-19 Europe and make it greener, more digital, more cohesive and more resilient. Of these resources, Spain is due 140 billion euros in grants and loans.

Non official translation