Spain has already received $38.9 billion in the first three approved payments.
The Commission's clearance of a further $87 billion in loans, yet to be confirmed by the European Council [Photo: AA]
Spain had been allocated $73.2 billion in grants, and will receive an additional $8.1 billion after a recalculation, plus another $2.74 billion to offset the energy price shock in the wake of Russia's invasion of Ukraine. In addition, Brussels has agreed to modify the initial recovery plan presented by Madrid in 2021, accepting as many as 52 changes to the initial draft in the face"objective circumstances".
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