The Valencian Institute of Finance (IVF) will extend the deadline for its aid until June 30 next year due to the war in Ukraine and its consequences for the regional economy. The period was planned to end at the end of 2023. General manager of the Generalitat public bank, Enrique Montes, was responsible for highlighting this extension. He did this during an interview with María Pomares, editor-in-chief of the journal Economy and Politics, on the occasion of the conference “Financial support for business success”, organized by INFORMACIÓN together with IVF and taking place this year. Monday. Montes valued the change, which would allow for the preservation of bonuses made through the organization’s loans linked to the war conflict in Ukraine.
Montes emphasized that “this extension will allow subsidized lines to continue to have a significant assistance component that can benefit self-employed workers and companies in the region.” Valencian Community affected by the effects of the war. This announcement follows the European Commission’s notification informing that changes have been made to the temporary crisis and transition framework for state aid measures to support the economy following Russia’s attack on Ukraine, which expired on December 31.
To increase
In addition to this temporary extension, the amendment also provides for an increase of 250,000 euros in the maximum limit on the amount of direct aid companies can receive, in addition to the two million euros in force. “This is excellent news for the Valencian business community,” said Montes, who explained that IVF would “currently be working on the review.” financial products bonuses offered. Therefore, it is expected that in the coming weeks, the calls regarding the changing lines of the public bank will be amended by adapting them to the new European regulations.
In addition to emphasizing the expansion war related aidThe General Manager of In Vitro Fertilization started his speech by underlining that the organization he manages has a history of more than thirty years and has continued its function since its establishment to finance companies in the Valencian Community. When asked about the differences between in vitro fertilization and the traditional banking sector, he said that they act in a complementary manner, seek cooperation and synergy, and focus on market gaps where public financing can contribute more.
«IVF assistance is offered to a wide range of companies, From freelancers to large companies», Montes said, referring to which companies can benefit from IVF assistance. During the day, it became clear that one of the sectors that maintained the greatest relationship with the public bank was the industrial sector, and this issue was also discussed by the director of the institution: “We have always maintained a close relationship with this sector.” Long-term financing and projects that provide long returns are generally the most problematic in traditional financing systems. We focused.”
venture capital
It was also revealed during the day that IVF currently participates in fourteen venture capital funds. The aim of this participation is to attract investment to the Valencian Community. european funds They also play an important role in this context; because through them, credit lines are offered to early-stage companies, many of which contain innovative components and focus on the field of technology.
X-ray of perspectives offered by Alicante efficient fabricSuggestions for the sector along with challenges such as inflation or credit restrictions were also included in the interview with Montes; Montes concluded his intervention by acknowledging the need to improve IVF’s processing times, and that’s certainly what they’re doing. we are working on it.
Ruth Merino: “IVF provides employment and social cohesion”
Speaking after the welcome to the event led by INFORMATION director Toni Cabot, Minister of Finance, Economy and Public Administration Ruth Merino drew attention to the work carried out by the Valencian Financial Institute (IVF) to create “employment”. and social cohesion”. The councilor reminded that the public bank of the Generalitat was established to respond to the needs of companies in the Valencian Community and is now facing a new phase under the management of Enrique Montes, focusing on self-employed and commercial ones. The rise of interest rates, Emphasizing the difficulties that cause energy and material costs to increase, Merino said, “Financial support is vital for the birth, growth and future of companies.”