Spain gets tranche of 9 billion euros in EU COVID recovery fund, Lithuania 289 million

FILE PHOTO: People wear protective masks as they walk past to a souvenir shop with masks displayed, after Spanish Prime Minister Pedro Sanchez announced on Friday, the lifting of the blanket obligation to wear masks outdoors from June 26, amid the coronavirus disease (COVID-19) pandemic, in Ronda, Spain, June 18, 2021. REUTERS/Jon Nazca

Spain on Tuesday received its first tranche of money amounting to 9 billion euros ($10.6 billion) from the 800 billion euro EU Recovery Fund meant to help the bloc recover from the COVID-19 pandemic and make its economy greener and more digitalised.

Spain will get a total of 69.5 billion euros in grants from the Fund in the coming years, with the payouts tied to the implementation of investment projects and reform measures set out in its proposal to the European Commission.

"I am convinced that Spain's ambitious plan will provide a crucial push for the European Green Deal to become a reality, it will further digitalise the economy and it will make Spain more resilient than ever," Commission President Ursula von der Leyen said in a statement.

FILE PHOTO: People stand next to closed-down businesses as they wait to enter a pharmacy, amid the coronavirus disease (COVID-19) pandemic, in Madrid, Spain, March 12, 2021. REUTERS/Susana Vera

Lithuania also received its first tranche of money of 289 million euros from its allocated total of 2.22 billion euros in grants.

($1 = 0.8500 euros)

(Reporting by Foo Yun Chee; Editing by Alison Williams)