The European Commission has disbursed the third tranche of the Rescue and Resilience Fund to Spain this Friday, delivering 6,000 million euros after the country met the required milestones and reforms and received approval from the Twenty-Seven.
That 6,000 million is added to a cumulative total that already included 31,036 million euros, composed of an advance of 9,036 million and 22,000 million from the first two tranches of the mechanism. This brings Spain’s overall receipt to more than 77,000 million euros, aimed at supporting the recovery from the Covid-19 pandemic and enabling a sustained economic rebound.
With the latest payment, Brussels has now disbursed more than 150,000 million euros to member states under the Recovery and Resilience mechanism.
Spain becomes the first member state to receive the third payment of Next Generation EU funds after submitting its request last November and completing the required 29 milestones and reforms.
The third tranche supports reforms across several policy areas. It includes measures to strengthen the bankruptcy law framework and modernize the vocational education system, with a focus on preventing tax evasion and corruption and promoting the use of renewable energy resources. It also funds investments in sustainable transport, fortifies the health system, and links inclusion policies to the minimum income scheme, aligning social protection with economic participation.
Additionally, the reform package enacts a new framework for a second chance procedure and introduces a streamlined, fully electronic process for micro, small, and medium enterprises, reducing time and cost for those pursuing growth opportunities.
One milestone in the education sector involves the entry into force of the Comprehensive Vocational Education System Law. The law aims to organize a flexible, lifelong approach to vocational training and guidance, aligning professional qualifications with evolving needs across different sectors and productive activities.
On the pension front, the reform of the social security contribution system for the self-employed advances a gradual shift toward a contribution base tied to actual income. In particular, the third payment supports a milestone focused on reforming the self-employed contribution regime, with a projected transition through 2032 to reflect earnings more accurately.
Looking ahead, Spain must meet the conditions attached to the fourth payment, which includes milestones worth 10,000 euros and features several items directly connected to pension system reform. This ongoing process underscores a broader strategy to modernize public services, strengthen macroeconomic resilience, and improve social protection for vulnerable groups while continuing to invest in green and digital transformations across the economy.