Spain Sets Aside Another €50 Billion for Ailing Companies

A group of women walk past beside a man seated while wearing face mask to prevent the coronavirus during the last day of the lockdown, in Pamplona, northern Spain, on June 20, 2020. Alvaro BarrientosAP Photo

MADRID—The Spanish government announced on Friday it is making available another 50 billion euros ($56 billion) in aid for companies struggling to weather economic difficulties brought by the new coronavirus outbreak.

The government said after an extraordinary Cabinet meeting it will provide 40 billion euros in loan guarantees for new investments, especially in the fields of technology and the green economy. A previous loan guarantee scheme, worth 100 billion euros and launched in March, met high demand from businesses.