The Valencian Institute of Finance IVF announced a deliberate extension of its aid deadline to June 30 next year, responding to the ongoing repercussions of the war in Ukraine on the regional economy. The extension was originally slated to end at the close of 2023. Enrique Montes, general manager of the Generalitat public bank, underscored this extension during an interview with Maria Pomares, editor-in-chief of Economy and Politics, tied to the conference Financial support for business success, organized by INFORMACIÓN in collaboration with IVF. The announcement highlighted how the extension would safeguard the bonuses associated with loans aimed at mitigating war-related economic stress.
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Montes stressed that the extension would keep subsidized lines robust, ensuring a meaningful support component for self-employed workers and regional companies affected by the war. This move follows updates from the European Commission about adjustments to the temporary crisis and transition framework for state aid measures designed to support the economy after Russias invasion of Ukraine, which expired at the end of the year.
To increase
Beyond the temporary extension, the amendment raises the maximum direct aid per company from the current level by 250,000 euros, complementing the two million euros already available. Montes described the news as excellent for the Valencian business community and explained that IVF would begin reviewing financial product bonuses currently offered. In the coming weeks, IVF expects to revise calls and adapt the aid lines to align with new European regulations.
Montes also opened remarks by noting IVF grows from a long-standing history of more than thirty years, continuing its mission to finance companies across the Valencian Community. When asked about how IVF differs from the traditional banking sector, he described IVF as complementary and cooperative, focusing on gaps in the market where public financing can add real value and synergy.
IVF assistance targets a broad spectrum of companies, from individual freelancers to large enterprises, Montes explained. During the event, it was evident that the industrial sector maintains a particularly close relationship with the public bank. The director emphasized that long-term financing and projects with slower returns have historically posed challenges for conventional lenders, a gap IVF aims to bridge with patient, outcome-oriented funding.
venture capital
It was disclosed that IVF currently participates in fourteen venture capital funds with the aim of attracting investment to the Valencian Community through European funds. These funds play a crucial role by offering credit lines to early-stage companies, many of which operate in technology and other innovative fields.
The interview also provided a snapshot of sector perspectives in Alicante, addressing sector-specific opportunities and challenges such as inflation and tighter credit conditions. Montes concluded by acknowledging the need to improve IVF processing times and affirmed that steps are underway to expedite processing while maintaining thorough oversight.
Ruth Merino later highlighted the institute’s impact on employment and social cohesion. After the event, she reiterated that the Valencian Financial Institute was created to meet the needs of local businesses and is entering a new phase under Montes leadership, with a renewed focus on supporting self-employed individuals and small businesses. The discussion also touched on the pressure from rising interest rates and the costs of energy and raw materials, underscoring that targeted financial support remains essential for the birth, growth, and resilience of regional enterprises.