Spain to pay EU bailout loan ahead of schedule

GMT 18:34 2015 Friday ,06 March

Arab Today, arab today Spain to pay EU bailout loan ahead of schedule

Economy Minister Luis de Guindos
Madrid - QNA

Spain is expected to pay back another portion of the bailout loan it received from the European Union to rehabilitate its ailing banks, the economy minister said Wednesday.
Spain will transfer a sum of 1.5 billion euros (1.66 billion dollars) to the EU rescue fund in two weeks, ahead of schedule, Economy Minister Luis de Guindos said.
The minister said that the Spanish government had actually wanted to make an even larger payment, according to the (dpa).
"That would be a sign that the situation is returning to normal," de Guindos said.
The payment amount was limited at the request of the EU, he said.
Spain received a total of 41.3 billion euros in bailout funds for its banking sector and has already paid back 1.3 billion euros ahead of schedule this year.

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