March 24, 2020 / 2:38 PM / in 11 days

REFILE-Spain to guarantee part of bank loans in case of nonpayments due to epidemic

(Fixes dateline)

MADRID, March 24 (Reuters) - The Spanish government has approved a burden-sharing scheme for banks as part of its state-backed credit lines to help mitigate the impact from the coronavirus, government spokeswoman Maria Jesus Montero said on Tuesday.

As part of the scheme, the state will guarantee around 80% of unpaid loans by small and medium-sized companies and self-employed workers. (Reporting by Jesus Aguado, editing by Andrei Khalip)

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