The EU will grant a loan of 83,000 million euros to Spain

The Commission of the European Union (EU) will grant Spain a loan of 83 billion euros within the framework of the Union recovery program developed against the economic consequences of Covid-19.

The European Commission has announced that the change plan requested by Spain in the funds within the framework of the recovery program called “Next Generation EU” for a total of 800,000 million euros has been approved. The statement stated that Spain made changes to its country program, including reducing Russia’s dependence on fossil fuels and increasing the security of energy supply.

YOU WILL FIND 163 BILLION EUROS

The statement stated that it was considered appropriate for Spain to receive a loan of 83 billion euros within the scope of the bailout program, and that an additional subsidy of 80 billion euros would be given to Spain and the total support would reach 163 billion. millions of euros. The new loan is expected to be approved by EU member states.

The EU Commission had established a recovery program of 800 billion euros with the guarantee of member countries against the epidemic and subsequent economic problems. In this context, the Commission began to borrow in the capital markets and to provide loans and grants on favorable terms to member countries, in line with the investment and reform plans they had prepared. (AA)