Spain Plans €10.5 Billion ‘Sovereign Fund’ to Follow NextGen EU
The Metropolis office building, left, in Madrid.
Photographer: Emilio Parra Doiztua/BloombergSpain will launch a €10.5 billion ($12.2 billion) investment fund to maintain support for its economy after European Union pandemic-recovery efforts wind down, Prime Minister Pedro Sanchez said.
“We’re going to create a major sovereign fund that will take over from the Next Generation funds and extend their momentum, making their legacy endure beyond 2026,” Sanchez told an investor event Thursday in Madrid.