MADRID, April 8 (Reuters) – Spain will request 12 billion euros ($13.02 billion) from the EU rescue funds set up to help member states recover from the COVID-induced economic contraction, budget minister Maria Jesus Montero said on Friday.
“In the coming weeks, we will request the second disbursement of the recovery plan worth 12 billion euros, which relates to benchmarks and goals of the first half of 2021,” she said at an event in Madrid.
Spain received 19 billion euros from the EU funds last year out of the 140 billion euros – half of it in grants and the rest in loans – it is due to receive over the six years to 2026.
The flow of cash from the EU has allowed Spain to reduce its budget gap faster than expected to about the equivalent to 4.7% of its gross domestic product last year.
PHOTO – EC Audiovisual Service
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