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EU Commission approves COVID-19 recovery fund for Spain, Portugal, Greece LNG terminal

Christian Fernsby |
The European Commission has adopted a positive assessment of Spain's recovery and resilience plan.

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This is an important step towards the EU disbursing €69.5 billion in grants under the Recovery and Resilience Facility (RRF) over the period 2021-2026. This financing will support the implementation of the crucial investment and reform measures outlined in Spain's recovery and resilience plan. It will play a key role in enabling Spain to emerge stronger from the COVID-19 pandemic

The RRF – at the heart of NextGenerationEU – will provide up to €672.5 billion (in current prices) to support investments and reforms across the EU.

The European Commission has adopted a positive assessment of Portugal's recovery and resilience plan.

The European Commission has approved, under EU State aid rules, a €166.7 million Greek support measure for the construction of a new liquid natural gas (“LNG”) terminal in Alexandroupolis, Greece.

The project will contribute to the security and diversification of energy supplies in Greece and, more generally, in the region of South East Europe, without unduly distorting competition.

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