€1.786 Billion for the EPC Programme: Now Spain Must Explain Which Corvettes the Armada Will Get

Spain approved €1.786 billion in zero-interest repayable advances to Navantia for its participation in the European Patrol Corvette programme, supporting development and construction of six ships. The financing will be disbursed against defence-ministry-certified milestones over 2026–2031 within the multinational programme managed by OCCAR. The amount represents industrial pre-financing rather than the full acquisition price, and the payment period does not establish a delivery or service-entry schedule. Spain has yet to confirm the ships’ final weapons, sensors and combat configuration, despite Navantia and Fincantieri’s cooperation on a Full Combat Multipurpose variant.