EU Opens Path for Spain to Receive $11 Billion in Recovery Funds
- Spain was first to submit reforms needed to unlock funds
- Member states will have to validate commission’s verdict
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The European Union will give preliminary approval Friday to the reforms submitted by Spain to unlock 10 billion euros ($11.3 billion) of its recovery funds.
The European Commission will validate the first set of milestones fulfilled by the Spanish government as part of its cash-for-reforms package to counter the economic fallout of Covid-19, according to EU officials.