The president of the Community of Madrid, Isabel Díaz Ayuso, announced this Friday the issuance of public debt, in the form of a "pioneer" Social Health Bond, for an amount of 52 million euros to obtain financing in the markets and combat the effects of COVID-19.
With this initiative, the regional government is "at the forefront as the first administration in Spain to issue a bond with these characteristics, " according to the Community of Madrid in a statement.
In a tweet, the regional president explains that this social health bonus is "a pioneer in Spain" and noted that "public-private collaboration has been essential", for which she thanked MAPFRE and BBVA.
While the Community issues the debt, the insurer will create in parallel a three-year guaranteed investment fund called MAPFRE Compromiso Sanitario, which will offer a 3% return in three years - well above the yield of the issue-, "thanks to a contribution additional close to one million euros by the manager itself. "
Thus, and together with the Community of Madrid, this company joins forces in the fight against COVID-19 in a new example of public-private collaboration, since the objective of the fund is to bring the savings of the insurer's clients closer to the financing of health aid. The fund will not apply any type of commission, or management, deposit or marketing, "reports the Community.
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