will be called Spain Grows, starts with a base of 10,500 million euros and has the objective of mobilizing 120,000 million to continue the momentum that the Next Generation funds have brought. This Thursday, Pedro Sánchez outlined the main features of his first major economic announcement of the year: the creation of “a large Spanish sovereign fund.”
The President of the Government has taken advantage of the Closing of the Spain Investors Day sessions to make this announcement before Spanish and foreign investors and CEOs gathered in Madrid.
The investment fund will bring together public and private capital. The 10,500 million starting euros will come from the Recovery PlanTransformation and Resilience. The Government plans to obtain the rest “through private debtnational and also international investors,” Sánchez explained.
With a Keynesian speech at the closing of these days, the President of the Executive described nine targets for the investment that his government plans to prioritize: the sectors are housing, energy, digitalization, artificial intelligence, reindustrialization, circular economy, infrastructure, water and sanitation and security. This reference to the Defense – with Minister Margarita Robles present among those attending the event – has been included at the end of the list, “in last place, but not the last”, he has qualified. The intention is to “prioritize key sectors to improve the productivity of our economy.”
The President and the Minister of Economy, Carlos Bodywill describe this plan in more detail next Monday, as announced by Sánchez himself. This Thursday he announced that the Official Credit Institute (ICO) will be the organization through which it is articulated investment, coexisting with the private sector.
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