July 26, 2021

The Government streamlines the delivery of aid to industrial projects to provide companies with more resources



At the proposal of the Ministry of Industry, Commerce and Tourism, the package of economic measures approved this Tuesday by the Council of Ministers includes areas of action in the field of support policy for industrialization, with the aim of accelerating the disbursement of credits and Aid available to facilitate liquidity for companies.

Specifically, it streamlines the management of credits and aid granted to industrial research, development and innovation projects in the manufacturing industry in 2019 (R + D + i) and the call for the granting of financial support for investment industrial in the framework of the public policy of reindustrialization and strengthening of industrial competitiveness in 2019 (Reindus).

This measure will allow the granting of the amounts corresponding to credits and aid to be resolved as companies individually fulfill their obligations to send documentation and justification of milestones, also allowing them to submit guarantees until November 2020.

It also establishes that, for a period of two and a half years – extendable by agreement of the Council of Ministers -, the loans granted by the General Secretariat for Industry and SMEs may be refinanced, so that, for projects currently underway , the criteria for evaluating the execution of projects are relaxed, guaranteeing compliance with the project’s objectives.

REINFORCEMENT OF 60 MILLION EUROS

At the same time, it strengthens with 60 million euros the line of guarantees for the self-employed and SMEs affected by the Covid-19, which suffer falls in sales or loss of personnel, managed through CERSA, which will allow expanding the refinancing capacity of financial institutions for SMEs and the self-employed in difficulties.

In tourism, in order to ensure liquidity and, therefore, the viability of tourism companies, the Government suspends the payment of interest and amortizations corresponding to loans granted by the Secretary of State for a year without penalty. Tourism within the framework of the ‘Emprendetur R + D + i Program’, the ‘Emprendetur Young Entrepreneurs Program’ and the ‘Emprendetur Internationalization Program’.

“These new measures complement the safety net that companies and freelancers need to face the vulnerability situation caused by Covid-19. Our main objective since the beginning of the health crisis has been to sustain economic activity in the face of transitory difficulties consequence of the Covid-19 “, indicates the Minister of Industry, Commerce and Tourism, Reyes Maroto.

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