Spain has unlocked €570 million ($652 million) to support Spanish companies participating in Ukraine’s reconstruction.This was announced by First Vice President and Minister of Economy Carlos Cuerpo in an exclusive interview with The New Voice of Ukraine (NV) during an official trade visit to Kyiv on Wednesday. The Spanish delegation, accompanied by roughly 50 companies, represents Madrid’s largest corporate mission to Ukraine since the beginning of Russia’s full-scale invasion in 2022.JOIN US ON TELEGRAMFollow our coverage of the war on the @Kyivpost_official.“In addition, it was agreed that Spain will increase its bilateral defense support to €1 billion [$1.1] during 2026,” Cuerpo said, adding that “we are fulfilling this commitment, and this amount is effectively added to the €4 billion [$4.6] already allocated.”Spain among NATO’s largest donorsSpain’s total military aid to Ukraine from 2022 to 2026 will amount to €3.8 billion ($4.4 billion), including the latest €1 billion, making Spain the eighth-largest donor among NATO members and fifth in the European Union, according to Cuerpo.According to United24Media, Spain launched these initiatives in order to help determine, together with Ukrainian authorities, the priority areas where this financing should be directed.Financial tools to reduce investment riskPart of the package involves expanded guarantee mechanisms designed to lower risks for Spanish businesses entering Ukraine’s war-affected market. Spain’s Export Credit Insurance Agency, Cesce, raised its export risk coverage for operations in Ukraine more than eightfold, from €30 million ($34 million) to €250 million ($286 million). The state-backed development institution COFIDES also launched a €100 million ($114 million) credit line targeting Spanish investments in defense, energy, transport and water infrastructure, according to United24Media.