12 Nov, 2020 @ 18:26
1 min read

€660 million rescue package announced for small to medium-sized businesses hardest hit by COVID-19 in Spain’s Andalucia

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THE Junta de Andalucia has announced a €660 million fund to rescue small and medium-sized businesses hit hard by the coronavirus pandemic. 

The plan is designed especially for the hospitality industry and small businesses of a non-essential nature, which have been the most-affected by the forced closures and curfews. 

Regional president Juanma Moreno announced the rescue package today following a meeting with the head of the Andalucia Business Confederation (CEA) Javier Gonzalez de Lara and other important business leaders. 

The fund will be split into three parts. Some €215 million will be direct aid and handed straight to the struggling companies. 

Another €350 million will be in the form of loans and the remaining €94 million in tax credits. 

According to Moreno, the plan includes a wide range of measures, from rental aid to cash to slow down the fall in income. 

Details of paying back the loans and other finer points have yet to be hashed out, but business leaders said they were happy with what has been agreed. 

“Health and the economy can be compatible with reasonable and intelligent measures,” said Gonzalez de Lara.

“There is not money for everyone, but there is money for a lot,” added business leader Javier Sanchez Rojas. 

They will now decide who the aid will be aimed at most, as it is likely many will miss out. 

Moreno asked for local town halls and councils, as well as the central Government, to contribute to the rescue plan.

Laurence Dollimore

Laurence has a BA and MA in International Relations and a Gold Standard diploma in Multi-Media journalism from News Associates in London. He has almost a decade of experience and previously worked as a senior reporter for the Mail Online in London.

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