July 28, 2020 / 1:32 PM / 7 days ago

Spain approves new funding lines for companies, first tranche of 8 bln euros

MADRID, July 28 (Reuters) - The Spanish government approved on Tuesday a new set of state-backed credit lines of up to 40 billion euros ($46.9 billion) to help mitigate the impact from the coronavirus, Spain’s economy minister Nadia Calvino said.

Speaking after the weekly cabinet meeting, Calvino said that the first tranche of this new aid package would amount to around 8 billion euros, of which 5 billion euros would go mainly to small and mid-sized companies.

$1 = 0.8525 euros Reporting by Jesús Aguado; Editing by Nathan Allen

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