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Spain expects to receive €140 billion from EU recovery fund

By John Smith • Published: 20 Nov 2020 • 14:26

SPAIN plans to take full advantage of the financial aid in the European Union’s recovery fund, which could amount to €140 billion said Economy Minister Nadia Calviño at Bloomberg’s Capital Markets Forum Spain held on November 19.

“We are very interested in making sure that we commit this amount in the first three years, so that we do not lose one euro from the grant part, and the loan side can be implemented up to six years,” Calvino said. “Of course, we are going to fully use the €140 billion.”

During the discussion, she noted that as there is a short period to access grants, so the Spanish Government will focus on that, but much of the process depends on the agreement of Hungary and Poland for the European Union to implement the entire package and this may be resolved in a December EU Leaders meeting.

Thank you for taking the time to read this news article “Spain hopes to receive €140 billion from EU recovery fund”.

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John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Currently he is acting as Editorial Consultant for the paper helping to shape its future development. Share your story with us by emailing newsdesk@euroweeklynews.com, by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews

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