Spain working to request EU recovery loans, says PM

Bloomberg

Spain will seek to tap European post-pandemic recovery loans, Prime Minister Pedro Sanchez said.
Spain is working with the European Commission to tap “funds that are available as loans,” after having already received funds as unconditional grants, Sanchez said in an event in Madrid on Thursday. “We will seek to incorporate part of these loans to our
recovery plan,” he said.
The announcement marks a change of strategy for the government, which had repeatedly said it would try to only tap the EU recovery grants. Spain is eligible to tap around 140 million euros ($146 million) in recovery funds, with about half as loans and half
as grants.
Late last month, Spain sent a request to the Commission to access a second tranche of conditional grants.