Spain to Provide EUR 2bn for Transport Companies

The Spanish government plans EUR 1.8 billion ($2 billion) in aid to support transport companies amid the COVID-19 crisis, said the Minister of Transport, Jose Luis Abalos, as cited by Reuters.

Renfewill receive EUR 1 billion, private transport companies will get EUR 673 million, while Seipsa is set to obtain a loan of EUR 110 million.

“Transporters were key when the pandemic hit the hardest to keep the supply of basic goods. It is fair that we now fulfill our duty towards them,” Abalos said.

Spain is hoping to receive around EUR 140 billion in EU funds, as part of the union’s EUR 750 billion economic stimulus package.