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Spain in talks with Gulf sovereign funds on investing in EU recovery projects

Belén Carreño
·1 min read

By Belén Carreño

MADRID, Feb 17 (Reuters) - Spain is in talks with sovereignwealth funds from several Gulf countries on them co-investing inprojects financed by European aid in order to leverage theinitial investment, Spanish Foreign Minister Arancha GonzalezLaya said on Wednesday.

"They are very interested in projects of decarbonisation,digitalisation and modernisation of our productive structure ata time when Spain is entering this process of transforming itseconomy," she said during a video-call with foreigncorrespondents based in Spain.

So far, the only condition on these investments underconsideration is job creation in Spain, a senior official withknowledge of the management of the EU recovery plan toldReuters.

The Gulf sovereign funds are "good connoisseurs of Spain andgood investors," Gonzalez Laya added.

Spain will receive one of the biggest slices of Europeanrecovery funds in the coming years, up to 140 billion euros($170 billion) of which about half will be in the form ofgrants.

($1 = 0.8310 euros)(Reporting by Belén Carreño, Editing by Inti Landauro)