Economy

Spain to disburse $2 bln in aid for transport companies

Jose luis Abalos. | J.J. Guillén

ReutersMadrid08/07/2020 14:02

Spain's government will disburse 1.8 billion euros ($2 billion)in aid to support transport companies hit by the coronavirus pandemic, transport minister Jose Luis Abalos said on Tuesday.

State-owned rail operator Renfe will receive 1 billion euros of the funds via an increase in its debt capacity, while 673 million will be for private transport companies, Abalos said after the weekly cabinet meeting.

Infrastructure operator Seipsa will receive a one-off loan of 110 million euros, he said.