BARCELONA – Spain's left-wing government wants the massive coronavirus windfall it will be receiving from the European Union to transform the nation after the economic devastation caused by the pandemic.
Spain is set to receive 140 billion euros ($166 billion) — half in direct payments, half in loans — from the 750 billion-euro ($908 billion) recovery plan adopted by EU leaders last year as the continent's economy reeled under lockdown restrictions, job losses and reduced consumer spending.
Prime Minister Pedro Sánchez, the leader of Spain’s Socialists, unveiled the plans his coalition government had for 70 billion ($83 billion) in direct aid that it hopes to invest over the next three years.