Spain: release of a fund of eleven billion euros for companies
The government of Pedro Sanchez (our photo) wants to revive an economy particularly affected by the Covid-19 pandemic.
LA MONCLOA / AFP
Text by: RFI Follow
2 min
The government of Pedro Sanchez is trying to revive an economy particularly affected by the Covid-19 pandemic, thanks to the leverage of significant European aid.
The idea of the socialists in power is to ensure that most companies see their finances cleaned up, when these same companies have particularly suffered during the pandemic.
A fund of eleven billion euros has been released, four in the form of loans, and seven in the form of direct aid
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With our correspondent in Madrid,
François Musseau
It is a real oxygen balloon for a large part of Spanish companies who have been living on a drip since the start of the health crisis in March 2020. The socialist government has in fact released seven billion euros as part of an aid direct.
This will be 3,000 euros for self-employed people, and between 4,000 and 200,000 euros for companies, depending on the size and turnover of the latter.
Managed by regions
This money, which will be managed directly by the seventeen Spanish regions, will be invaluable as it is intended to pay salaries, supplies and suppliers.
It is especially the hotel and restaurant sector that will receive this aid, which explains why a good part, two billion euros, will benefit the two Spanish archipelagos, that of the Balearics and that of the Canaries, which both live mainly from tourism.
The rest of the money, five billion euros, will go to the rest of the regions taking into account two main factors: youth unemployment and the contribution to national wealth.
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