The Spanish government has decided to resume the plan to raise six billion euros ($8 billion) through a loan backed by the country's lottery giant Sociedad Estatal de Loterias y Apuestas del Estado SA to cover part of the financing needs of Spanish regional governments, reports Expansion in its Monday Internet edition.

Citing a letter sent by Loterias' chairman Jose Miguel Martinez Martinez to lenders requesting a resumption of last year's project and citing financial sources, the newspaper said the Spanish Treasury is looking to close the operation by June.

In December, Spain's Budget Ministry had cancelled the lottery loan plan, saying it had already secured EUR12.6 billion for its regional liquidity fund, covering all of the regions' financing needs for 2012.

http://www.foxbusiness.com/news/2013/02/17/spain-resumes-lottery-loan-plan-for-liquidity-fund/

 






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