Spain will receive €140 billion from the EU economic recovery Fund after the pandemic



Spain will receive €140 billion from the EU economic recovery Fund after the pandemic

Spain will receive about €140 billion from the EU's €750 billion economic recovery Fund. This is stated in a press release issued on Tuesday by the government of the Kingdom following the summit of heads of state and government of the European Union in Brussels.





“During the negotiations, the Spanish government was able to receive approximately €140 billion over the next six years: more than 11% of our country's GDP,” the communique says. — €72.7 billion will be [allocated in the form of] grants (gratuitous assistance).”

“This is a great agreement for Europe and for Spain,” said the Kingdom's Prime Minister, Pedro Sanchez. “Make no mistake, today was written one of the most striking pages in the history of the European Union.” The head of the Cabinet also compared the agreement reached on the recovery Fund with the “Marshall plan, which is designed to give a decisive response to the crisis” caused by the pandemic.

On Tuesday, it was announced that the heads of state and government of the EU have reached an agreement on the community budget for 2021-2027 for €1,074. The summit was delayed for almost five days.





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TAGS: EUROPEAN UNION, SPAIN

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