The government will loan a total of 5,000 million euros for investments in the region. Spanish industry. Funds will come from attachments Recovery and Resilience Plan The executive should submit this quarter to the European Commission and plan to hand it over 84,000 million credits and 7,700 million subsidies to the national economy.
Some of these loans will be managed by the Ministry of Industry, Trade and Tourism. If Brussels approves the second part of the Recovery Plan, the Ministry will allocate 2,500 million euros to the Productive Industrial Investment Support Fund (FAIIP), a tool created in July 2021 that provides loans to Spanish companies or those operating in Spain. Regardless of its size and provided that it does not belong to the public, those who engage in or will do an industrial activity. FAIIP, 75% of the investment of these projects, and it does so in market conditions. Therefore, it is definitely not considered as State aid.
On the other hand, the Ministry will enable another 2,500 million Euro fund to be managed by the State Industrial Subsidiaries Company (SEPI) within its own business development area (Sepides). These loans can be taken with zero interest, that is, they will not require interest payments.
This was announced by Francisco Blanco, Secretary General for Industry and SMEs from Asturias, during a ceremony held last Friday at the Prensa Ibérica group’s Club Prensa Asturiana in La Nueva España. “An addendum to the Recovery Plan is being negotiated, but if it’s approved and there are no issues, that’s what will happen,” he said.
second scene
On 20 December, the Council of Ministers approved the draft addendum. “This is the second phase for the full deployment of European funds corresponding to Spain,” said Nadia Calviño, Minister of Economy at the time. If the 70,000 million euro mobilization is given the green light in the first part of the plan approved in 2021, in this second round Spain can request a maximum of 84,000 million loans and up to 7,700 grants from the European Commission. . In total, more than 160,000 million people “will increase their GDP (Gross Domestic Product) level by up to three percent by 2031,” Calviño said.
Of the aforementioned 84,000 million, the main buyer will be a 20,000 million fund for autonomous communities to obtain financing under “preferential terms” that allow them to make loans to the private sector to promote social housing, transport, tourism, trade and investment. SMEs.
However, all this injection of funds still depends on Brussels’ approval.