American investors explore opportunities in Spain’s recently approved recovery plan.
Spanish PM, Pedro Sánchez, held a “successful” meeting today, Wednesday, July 21, in New York with a group of senior executives from the Bank of America and investment fund managers from JP Morgan.
The American executives were able to openly raise questions about the investment opportunities that are at present available in Spain due to the recently approved recovery plan, according to Moncloa sources.
This is the PM’s first meeting with U.S. businessmen within his three-day economic tour in the United States and that will take him to New York, Los Angeles and San Francisco to look for investors.
In his first meeting, which was held at the Economic and Commercial Office of Spain, located in the iconic Chrysler Building, a total of 14 leading American investment funds and banks participated.
Representatives from Ares Management Corporation, Bank of America, Blackstone, Bank of New York Mellon, Brookfield Asset Management, Roko Capital Management, JP Morgan, L Catterton Partners, Lone Star Funds, Morgan Stanley, Providence Equity Partners, Soros Fund Management, Wellington Management Group and AmChamSpain attended.
According to Moncloa, the meeting gave Sánchez the opportunity to explain in person the economic situation in Spain “and the investment opportunities that open up with the Recovery, Transformation and Resilience Plan and the arrival of European funds”.
“The Plan will allow Spain to emerge stronger from the COVID-19 crisis in the short term and will lay the foundations for strong, sustainable and inclusive growth in the medium term. With ‘Spain Can’ our country will successfully face the digital and green transformation, which will mark the future of the global economy”, Sánchez said.
The Moncloa government later said that “US funds have shown great interest in investment opportunities in the green, digital, industrial and training areas”, and also “for the major reforms undertaken in Spain”.
After the meeting, Sánchez met with Michael Bloomberg and the CEO of BlackRock, Larry Fink, in a non-stop tour of Washington. However, there was no meeting with President Joe Biden, as the tour was exclusively for an economic purpose, as the PM explained in an early morning interview he gave on MSNBC at the start of his tour.
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