Spain's Castilla-La Mancha to ask for aid: report

MADRID (MarketWatch)
The Spanish region of Castilla-La Mancha is planning to ask the government for 800 million euros ($1 billion) in aid money, Spanish state news agency EFE reported Thursday
Citing regional government sources, the report said the region needs the money in order to allow it to meet maturing debt and interest payments
News of the request comes comes hours ahead of an expected 2013 budget announcement and economy plan by the government
The president of Castilla-La Mancha, Maria Dolores de Cospedal, affirmed Thursday that it is necessary to ask the regional bailout fund for help, according to the report
Castilla-La Mancha would become the fifth region to request aid, behind Cataluna, Andalucia, Valencia and Murcia
Media reports have been pointing to funding difficulties for one of Spain's most sparsely populated regions