The central government will give credit for its total value 5,000 million euros For investments in Spanish industry. The funds will come from the appendix to the Recovery and Resilience Plan, which the Executive is due to submit to the European Commission this quarter, which plans to transfer 84,000 million loans and 7,700 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 billion 500 million Euros to the Recovery Plan. Productive Industry Investment Support Fund (FAIIP), an instrument created in July 2021 that provides loans to Spanish companies or companies operating in Spain that are or will carry out an industrial activity, regardless of their size and as long as they are not part of the public sector. FAIIP can grant up to 75% of the investment in these projects, and it does this under market conditions. Therefore, it is definitely not considered as State aid.
On the other hand, the Ministry will establish another fund equipped with funds. 2,500 million euros, It will be managed by the Industrial Subsidiaries State Corporation (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 last Friday by Francisco Blanco, Secretary General for Industry and SMEs from Asturias, at the ceremony held at Club Prensa Asturiana of LA NUEVA ESPAÑA from the Prensa Ibérica group. “Additional to the Recovery Plan is being negotiated, but this is what happens if it’s approved and there’s no problem‘ he assured.
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 70,000m-euro mobilization in the first part of the plan, approved in 2021, is given the green light, Spain will receive the maximum amount from the European Commission in this second round. 84,000 million loans and 7,700 grants. 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 84,000 million mentioned, the main buyer will be a 20,000 million fund that allows autonomous communities to make loans to encourage investment in the private sector to obtain financing under “preferential conditions”. social housing, transportation, tourism, trade and SMEs.
However, all this injection of funds still depends on its approval. Brussels.