UK interest-free loan rejected by Spain

UK promises a loan to Spain in exchange for trade guarantees after Brexit during the UNEP committee meeting.

Spain has in the past received complaints from the EU for excessive air and water pollution and has received the thereat of sanctions. The country promises to reduce pollution but complains of a lack of monetary capability to due so. In light of this the United Kingdom promised to loan Spain money free of interest, to be paid in 15 years, to this end, which would significantly impact the Spanish agricultural and tourism sectors, in exchange for commercial and trade benefits after leaving the EU.

When announced, the deal seemed almost sealed, however after a previous deal between Spain and Brazil came to light, the UK asked Spain to choose only one, since Brazil’s environmental policies are contradictory with that of Great Britain’s. Spain, surprisingly chose to support Brazil and therefore invest in the Amazon rainforest instead of accepting an almost one-sided deal.

As such, Spain forefits the possibility of receiving these investments, and therfore continues to posses anunsolved pollution problem.