Arcadi España, Spain’s Finance Minister and head of the Economic Model portfolio, announced an extension for applicants seeking subsidized financing through the Valencian Institute of Finance (IVF). The expanded funding pool now totals 200 million euros and targets sizable tourism and industrial companies, along with small and medium enterprises launching new investments to boost Valencian competitiveness. The new deadline runs through December, broadening participation opportunities for regional firms.
The updated lines include IVF AFIN Major Tourism Corporation, IVF Invests Major Industrial Corporation, and IVF Invests Pyme React EU Feder. The original expiry date of June 1 has been shifted to December 31, enabling more companies to participate. The minister stressed the opportunity to involve as many firms as possible. (Attribution: Generalitat Valenciana)
In Parliament, España outlined the policy directions of the Finance and Economic Model department. He urged a second generation of regional agreements to ensure adequate resources through urgent regional fiscal reform and debt relief tied to underfunded programs. The aim is to foster steady, drama-free state action while safeguarding the welfare state and promoting dialogue that guarantees financial sufficiency and equity in economic resources. (Attribution: Generalitat Valenciana)
España also called for energy audits across all public buildings in the Generalitat to obtain efficiency certificates and to pursue energy efficiency measures alongside renewable energy use, viewing this as strategically essential given the current climate. A framework agreement worth 6 million euros was announced to contract these energy audits, with the objective of streamlining service delivery, speeding up processing, and achieving cost savings. The plan includes unified procurement to raise efficiency. (Attribution: Generalitat Valenciana)
Within this context, España unveiled plans to convert public heritage into eco-sustainable assets, advancing energy efficiency and photovoltaic actions in public buildings as part of a broader sustainability push.
The main role of IVF
España emphasized that institutions act as the engine of economic stimulation. The Generalitat has long supported businesses, freelancers, and individuals through programs launched after Covid, including Resist, Resist Plus, and the Reactive Plan. From its inception, IVF processed 72 initiatives totaling 3.1 million in 2015. By 2021, the volume rose to 2,836 operations valued at 321.2 million, spanning subsidized financing lines for Covid-affected enterprises, entrepreneurship, growth, and social lines such as AFIN-SGR. The minister noted ongoing efforts to finance entrepreneurship through proactive venture capital lines and hybrid financing strategies, including subordinated and participatory loans, with a goal of backing Valencian company IPOs.
Transformation of the Valencian economic model
España outlined a transformative investment strategy guided by the Autonomous Secretary of the Economic Model, centering on digitalisation, climate transformation, and inclusive growth. Grants supporting commercial investment projects that contribute to this transformation remain open, backed by a 12 million euro fund until June 30. The aim is to drive a more efficient and cohesive Valencian business landscape, bolstering competitiveness across institutions.
Importance of digitization
España described the General Directorate of Information Technologies (DGTIC) as the cornerstone of digitalisation for the Consell, highlighting ongoing work to implement digital platforms and apps that improve administration efficiency and agility. The administration aims for streamlined management, with a shift from payments to suppliers within 90 days to roughly 15 days, fueled by stronger funding and electronic invoice processing. The Valencia cybersecurity model serves as a benchmark, with efforts to employ blockchain for transparent data handling, enhanced protection, and security readiness. (Attribution: Generalitat Valenciana)
The effectiveness of regional cuts
España highlighted the social foundation and economic stimulus generated by regional cuts, noting savings of more than 55 million euros in the last financial year. He added that the Consell’s tax policy reduced injustices in Valencia, keeping personal income tax progressive while maintaining social deductions. (Attribution: Generalitat Valenciana)
Preservation of heritage
Spain outlined a heritage policy focused on acquiring landmark properties and keeping public buildings open and transparent. The goal is to ensure public access and functional heritage across the three provinces, making the region a shared asset. The acquisition of the Rafal Marquis Palace in Orihuela was announced to house a water study center and anchor the Vega Renhace Plan. (Attribution: Generalitat Valenciana)
A different response to the crisis
España described a political moment marked by tensions in energy and raw materials markets and a shift toward inflation management alongside European funds. He framed Valencia as a region of opportunity, citing new business projects and the arrival of major global players as evidence of renewed investment and growth. (Attribution: Generalitat Valenciana)