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Measures to Support the Sectors Most Affected by Pandemic Containment Measures

The Catalan Government Approves Urgent Measures to Support the Sectors Most Affected by Pandemic Containment Measures

event_note Press Release

The Catalan Government Approves Urgent Measures to Support the Sectors Most Affected by Pandemic Containment Measures

  • Subsidies will be granted to freelancers and SMEs in the restaurant, aesthetics and beauty industries which turnover has been reduced due to the closure of their activities
  • A line of loans is activated through Avalis de Catalunya and the Catalan Institute of Finance (ICF) endowed with €20 million to stimulate the economic recovery of restaurants and retail stores
The Catalan Government Approves Urgent Measures to Support the Sectors Most Affected by Pandemic Containment Measures

The Catalan Government has agreed to activate a package of urgent measures aiming at supporting the economic sectors most affected by the new Covid-19 containment measures adopted by PROCICAT, which came into force last week.

"The first measure is a subsidy for freelancers, SMEs and microbusiness of the restaurant, aesthetics and beauty industries, for which the temporary closure of their establishments means a drastic decrease in turnover". “The initial endowment for these subsidies rises to €40 million, to be increased according to the needs. The maximum amount granted to a beneficiary will be 1,500 euros"

In order to simplify the access to the economic aid, the Government has established a calendar that provides a period of five days to submit applications online. These will be managed by the Catalan Trade, Crafts and Fashion Consortium (CCAM). The agreement urges the competent bodies in the procedure to adopt the necessary measures in order to ensure that the procedures for applying, granting and paying the aid are carried out as quickly as possible.

Loans of 15,000 euros

The package of measures approved today also include the implementation of a new line of financing through Avalis de Catalunya and the ICF. The aim of the loans, called AVALIS ICF Restauració i Comerç, is to promote the recovery of businesses in the restaurant and retail sector by opting for new business models that help relaunch the activity, cover liquidity needs and ensure jobs positions.

The recipients of the loans are freelancers and microbusinesses in the restaurant and retail industry which activity has been affected by the measures implemented due to Covid-19. The loan, initially endowed with €20 million, is 100% guaranteed by Avalis de Catalunya.

The loans have been fixed at 15,000 euros plus the risk and mutuality expenses inherent in Avalis de Catalunya. Recipients will be able to apply for five-year credits with a grace period included in the term.

These loans, which can be applied virtually from tomorrow on Avalis de Catalunya website (www.avalis.cat), complement the other financial solutions that the ICF and Avalis, with the support of the Generalitat de Catalunya, have launched in recent months to provide liquidity to the businesses affected by the crisis of the COVID-19 and to ensure job positions.

Apart from these actions, the agreement also provides the activation of measures promoted by other ministries, as is the case of a decree law of the Ministry of Justice to alleviate the burden of rents on commercial establishments.