July 3, 2020 / 10:45 AM / a month ago

Spain readies 150 billion euro coronavirus investment plan, PM says

FILE PHOTO - Spanish Prime Minister Pedro Sanchez takes part in a working session during the G5 Sahel summit in Nouakchott, Mauritania June 30, 2020. Ludovic Marin /Pool via REUTERS

MADRID (Reuters) - Spain is preparing a 150 billion euro (135.32 billion pounds) investment plan to be financed by European Union funds that will help the country’s economy recover from the coronavirus, Prime Minister Pedro Sanchez said on Friday.

“It will be a public investment plan that will also mobilize private resources,” he said during a speech at the Moncloa Palace government headquarters.

According to an EU plan, Spain would receive about 140 billion euros from a special recovery fund.

Reporting by Inti Landauro and Emma Pinedo; Editing by Nathan Allen

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