New measures are taking shape to cushion an anticipated economic slowdown. The Generalitat plans to roll out a financing line worth 30 million euros next week, aimed at restoring liquidity for companies operating in Algeria. This was disclosed by Consell chairman Ximo Puig during a Tuesday meeting with representatives from the chambers of commerce and the Valencian Confederation of Commerce (CEV). The goal is to stabilize commercial activity between Spain and North Africa amid ongoing trade challenges.
Attendees at the session included Regional Foreign Minister Joan Calabuig and the Valencia Institute of Finance (IVF) director Manuel Illueca. Officials indicated that eligible firms could access working capital financing of up to 5 million euros, contingent on their size, and could cover overdue invoices and orders with Algerian importers dating back to December 2021. The loans would span four years and would be repaid in full at maturity, providing a structured path to resume normal operations and sustain export relationships.
CEV President Salvador Navarro emphasized that the crisis has hit the ceramics sector particularly hard, with Alicante province bearing a disproportionate impact due to its proximity to key ports. He stressed that the remedy must be pursued through diplomatic channels with Algeria and noted that current export activity from Alicante stands at about 135 million euros annually, illustrating the regional stakes involved in reopening and maintaining trade links.
Juan Riera, President of the Alicante Chamber, expressed concern over the ongoing disruption, noting that 11 weekly flights between the community and Algeria remain canceled. The combination of shipping pauses and payment delays has underscored the need for coordinated economic and diplomatic efforts to restore stable market access for regional exporters. [Citation: Generalitat press briefing]