The Government rescues Pachá and three other companies with 54 million euros

The Government has approved four financing operations for the Recapitalization Fund, which is aimed at companies affected by the health crisis derived from Covid-19 and is endowed with 1,000 million euros.

In this case, it will allocate 54 million euros to 'rescue' four companies, including the

, which will receive 18 million euros.

Thus, the Ministry of Industry, Commerce and Tourism reported that the aid is financed by the Recapitalization Fund (Fonrec) managed by Cofides, according to Servimedia. Cofides is a company dependent on the Ministry itself and already adds 66.1 million euros in public aid aimed at revitalizing viable companies, but currently in trouble due to the pandemic. Companies can access between 2.5 and 25 million financing.

In addition to the aforementioned Pachá, the Technical Investment Committee has authorized the requests of

(also located in the Balearic Islands and owner of the Garden hotels, it will receive 18.6 million euros),

(dedicated to the restoration in Madrid, it will obtain 7 million) and

(a company specialized in high precision mechanics and based in Guipúzcoa that will earn 10.4 million). Between all of them, the Ministry explained, they directly employ

.

The Minister of Industry, Commerce and Tourism,

, pointed out that "these approvals represent another step in the work that the Government through Cofides is carrying out to support the solvency of medium-sized companies that have suffered from the pandemic."

In Maroto's opinion, the recipients of the aid are "companies with the capacity for growth and a high component of innovation on which not only many jobs depend but also the survival of many other companies and freelancers."

In addition, the minister celebrated that the Fonrec eligibility criteria were modified at the Council of Ministers on December 7: "We hope that with this relaxation of the requirements, more companies will be eligible for recapitalization funds."

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