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Spain Wants to Tap EU Cash to Fund the Green Recovery

  • EU leaders meet in July in bid to agree on giant stimulus plan
  • Deputy prime minister sets out Spain’s plans in interview
Virus Tests Spain's Tourism Sector To Breaking Point
Photographer: Angel Garcia/Bloomberg

Spain may be about to access as much as 140 billion euros ($158 billion) if the European Union can agree on proposals to finance the bloc’s economic reconstruction next month and the government in Madrid is determined to show it can make the most of the windfall.

The government already has detailed plans to shift toward a greener economic model and ease its reliance on outdated manufacturing sectors like gas- and diesel-powered autos, and the recovery fund is a chance to accelerate that transformation, according Deputy Prime Minister Teresa Ribera, who’s responsible for the economic and environmental transition.