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These loans will be channelled through various financial vehicles, Calviño said, citing the Autonomous Communities’ Resilience Fund, which would be allocated €20 billion to finance sustainable investment projects.

MAHOU SAN MIGUEL reported a €1.7 billion turnover last year, 18.4 per cent more than in 2021 and the best figure in its history.

this did not imply an immediate increase in the country’s debt as there will be a 30 ­ year repayment period with an extra 10 years’ grace. The government calculates that this works out at around 35 basis points cheaper than raising the money through Treasury bonds.

The EU cash is to be handled in collaboration with the European Investment Bank, the vice­president said, although the Official Credit Institute would channel a further €22.5 billion to be used for business projects ­ particularly those involving green investment ­ with €1 billion set aside for tourism.