| Author (Corporate) | Council of the European Union |
|---|---|
| Publisher | General Secretariat of the Council |
| Series Details | 10150/21 |
| Publication Date | 06/07/2021 |
| Content Type | Blog & Commentary, News, Policy-making |
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Summary: Council Implementing Decision - adopted by the Council of the European Union on 6 July 2021 - concerning the endorsement of an assessment to Spain's National Recovery and Resilience Plan (NRRP). Further information: National Recovery and Resilience Plans are prepared by the Member States of the European Union (EU) and comprise a package of reforms and investment initiatives to be implemented by 2026 and supported by the Recovery and Resilience Facility (RRF). These plans are assessed by the European Commission and approved by the Council of the European Union. The assessment is based on criteria set out in Regulation (EU) 2021/241 - also known as the RRF Regulation. A positive assessment of the Spanish NRRP was adopted by the Commission on 16 June 2021. It recommends that the Council endorses the disbursement of €69.5 billion in grants under the RRF over the period 2021-2026. The Commission's analysis considered, in particular, whether the investments and reforms contained in Spain's plan support the green and digital transitions; contribute to effectively addressing challenges identified in the European Semester; and strengthen its growth potential, job creation and economic and social resilience. The proposed Decision was formally endorsed by the Council of the European Union at a meeting on 13 July. The first €9 billion - equivalent to 13% of the grant and loan component of the country's financial allocation - was disbursed by the Commission on 17 August. On 11 November, Spain submitted a payment request based on the achievement of the 52 milestones selected in this Decision for the first instalment. The preliminary positive assessment was published by the Commission on 3 December. |
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| Source Link | Link to Main Source https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CONSIL:ST_10150_2021_INIT |
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| Subject Categories | Economic and Financial Affairs |
| Subject Tags | Economic Governance | Situation |
| Countries / Regions | Spain |
| International Organisations | European Union [EU] |
