this recovery fund managed by cofidesaffiliated to the Ministry of Industry, Trade and Tourism to save Business medium and small Affected by the coronavirus pandemic, the eleven-month validity period has expired. 779 million euro investment80% of the initial allocation of EUR 1,000 million for total ‘savings’ 89 companies and 37,000 jobs. And a quarter (22) of these companies are Catalan. The region that received the most aid with 270 million euros, ahead of other communities, Basque Country (EUR 129 million in 15 operations) or Madrid (EUR 111 million in 12 operations).
The last Catalan companies to receive bailouts from Cofides were: channels coaches (3 million) and Limited Liability Company Reverté Mineral Products (7 million), last week. But to these two we must also add the following: Editorial Vicens Vives (16.2 million), plastics manufacturing company Witte and Left (3.3 million), restaurant company Arcasa Catering (8 million), sports services company Llop Sports Management (4 million), companies specializing in textile architecture IASO (3.5 million euro), construction company Ferrallas Piera (4.15 million), company specializing in textile design and production halotex (4 million), restaurant group Lurra Itsasoa (4.3 million) or hotel Guitart Hotels (4.5 million).
“Cofides recapitalization fund, medium pot what would they be applicable in the long run but they were jeopardized its solvency in the short or medium term As a result covid19″, The Minister of State for Trade announced, Xiana Mendezin the presentation of data. This fund was created in March 2021 to serve as a complement to other public mechanisms such as the ICO guarantee line or the fund for strategic companies of the State Holding Company (although it became operational on 30 June of the same year). ) but focused on companies with pre-pandemic sales of between €10 and €400 million and financing needs between €2.5 and €25 million that were “severely” affected by the pandemic.
yes ok they asked for help to double the money finally approved. Notably, Cofides received 143 applications, of which 1,356 million euros were allocated, but in the end only 89 were approved (779 million in total). The Managing Director of Cofides explained that along the way there were “unsuitable operations because they did not meet regulatory criteria or pass risk analysis”, while there were also many others who “recovered quickly and gave up on their applications”. Rodrigo Madrasa. In addition, the amount of 779 million ‘rescues’ was adjusted during the analysis period, as the total amount of initially approved claims was 920 million euros.
Most aid by sector industry sector As Madrazo points out, it is a sector that is less affected a priori by the coronavirus but has been slower to recover, “damaged by the crisis in international chains and the rise in raw materials” (336 million euros, 43% of the total). the opposite of what happened with tourism sector It was the hardest hit in 2020 (with 192 million, the second most receiving aid, adding 25% of the total), but it is recovering faster, according to Madrazo. For his part, 75% of the aid participating creditsif 25% ordinary loans. “The purpose of the fund is to recapitalize companies and improve their solvency, thus participatory loans that can be accounted for as equity in certain circumstances,” Madrazo added. The maximum period for these investments will be until December 2028.
Source: Informacion
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