Tuesday, March 26

The Generalitat bank will allocate 450 million this year to finance companies


The Valencian Institute of Finance (IVF) will have this year the “record” number of 450 million euros to finance the needs of companies, including 300 million for five new lines of credit with which the aim is to strengthen liquidity and investment in SMEs, but also favor the growth of large companies.

This was announced this Monday by the president of the Generalitat, Ximo Puig, during his visit to the Palau dels Boïl d’Arenós, future headquarters of the IVF, where it has presented the lines of action for 2022 of the Valencian public bank. The event was also attended by the Minister of Finance and Economic Model, Vicent Soler, and the general director of the IVF, Manuel Illueca.

During his speech, the president assured that the commitment to offer new lines of credit allows the IVF to be consolidated as an “essential” public financial instrument for economic recovery in the Valencian Community.

During the event, the head of the Consell explained the five new lines of credit that the IVF will launch. Specifically, he highlighted that the line “SME and self-employed liquidity” It will be aimed at increasing the liquidity of companies and will have 30 million euros for working capital and investment, with repayable tranches.

On the other hand, the line “Reverse SME React EU Feder” It will have 180 million euros to facilitate investment projects with credits of up to 5 million euros and a subsidized tranche of 20%.

Also, the line “Invest in tourism company” It will have 30 million euros available for tourism companies and hotel chains, to grant credits of up to 5 million with a reduced section of 20%. In this way, the Generalitat complies with the commitment that the sector acquired, after the businessmen denounced that the majority of hotels had been excluded from the aid of the Resistir Plan, to face the consequences of the pandemic. For its part, the line “Invest industrial company” It will have 20 million with non-refundable tranches of up to 10% for industrial investments.

Also Read  US is ready to discuss the possibility of halting military exercises in Ukraine's talks with Russia | Ukraine

Regarding these two lines, the president has assured that they intend drive business size growth of the Valencian economic fabric made up mainly of SMEs and micro-SMEs, with the aim of “improving technification, investment in innovation, and that this also contributes to an improvement in wages.”

Finally, the president has also announced the line “Big strategic projects”, endowed with 40 million euros and which will admit subordinate credit operations in order to facilitate business concentration in large companies, because as it has defended “we need the presence of the capital of our companies to be resident in the Valencian Community”.

2,836 beneficiary companies in 2021

During the event, the Minister of Finance and Economic Model, Vicent Soler, explained that during 2021 the total volume of financing granted by the IVF has amounted to 321.2 million euros, the amount with which financing operations have been carried out that have benefited a total of 2,836 companies and freelancers in the Valencian Community, the average amount of these operations being 113,258 euros.

As explained by the minister, in this last year he has opted for “countercyclical” and “corrective” financing, especially aimed at SMEs, startups, social economy and projects that guarantee environmental sustainability and strategic projects for the Valencian economy or that have suffered especially the impact of covid-19.


www.informacion.es

Leave a Reply

Your email address will not be published. Required fields are marked *