Spain expects to receive €140 billion from EU recovery fund

Nadia Calviño speaking at the Forum
Nadia Calviño speaking at the Forum Credit: Twitter

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.”

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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.

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