Spain becomes first EU country to seek disbursement of recovery funds


  • World
  • Saturday, 13 Nov 2021

MADRID (Reuters) - Spain has officially asked the European Union for the first instalment of 10 billion euros ($11.5 billion) of recovery funds, becoming the first member state to do so, the Budget Ministry said on Friday.

The southern European nation received a downpayment of 9 billion euros in August out of a total of 19 billion euros Spanish Economy Minister Nadia Calvino said the country would receive in 2021.

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