Spain has to submit a final plan before the end of April. After this, the European Commission has two months to review it and another month to ratify it.
Once ratified, 13% of the total will be disbursed and new disbursements will be made every 6 months, with 70% being received before the end of 2022, and the rest in 2023.
Spain is expected to receive the initial funds in the third quarter of 2021; however, the Government has indicated that it will pay the funds for the projects in advance. So even if there is a delay in receiving them from the EU, they could be allocated to projects slightly earlier.
Will the full grant from the European Funds be allocated on day 1?
The disbursement profile of project grants has not been detailed, but given that the disbursement of EU funds to Spain is reviewed every 6 months, it is to be expected that in long-term projects the Government will not commit to large disbursements without being certain that it will receive the funds from the EU.