Sánchez announces more than 50,000 million in subsidies and loans for SMEs

President of the Government, Pedro Sánchezannounced this Thursday that the Government will be allocated 4.5 billion euros in subsidies and close to it 50,000 million euros in loans and the financial instruments of the Recovery, Transformation and Stability Plan to small and medium enterprises (SMEs) of the country.

“Never in history have so many economic resources been invested in modernizing our productive fabric and, therefore, we have a great responsibility, but also a great opportunity,” said the president in his speech at the event. Transforming SMEs with the Recovery Planorganized this Thursday at the Business Organization School (EOI).

Of these subsidies and loans announced by Sánchez, 1,380 million are linked to subsidies from Red; 3 billion subsidy from the Loss; 630 million of Spanish Refiancement Company (Cersa) warrants; 2.4 billion from the Social Impact Fund and Cofides Co-Investment Fund; more than 30,000 million from the green ICO and lines of ICO companies and entrepreneurs and 16,400 million from the State Society for Technological Change (SETT), with Perte Chip Mechanism, the Next Tech Fund and the Audiovisual Hub line.

The president pointed out that Spain has already given more than a third of the Recovery Plan to SMEs. “Two out of every five euros of the Plan’s calls will reach them directly. One in five are already SMEs direct beneficiaries of the Recovery Plan: more than half a million companies,” said Sánchez.

Of the 42,612 million euros released from the Recovery Plan by all public administrations, more than 16.8 billion euros (39.5%) has SME as direct beneficiary.

In the Recovery Plan as a whole, 528,800 SMEs have so far received some form of financing from one or more programmes.

“We’re talking about the backbone of our productive fabric. And small and medium-sized companies are the basic cells of that Spanish productive fabric, the main sponsors of the vitality of the entire economic body of Spain,” said the head of the Government.

Now, it is the job of the Spanish Government to ensure that no one embarking on an entrepreneurial adventure has to overcome a “thousand barriers and go over a mile uncertainty“.” I know they have it, and the administration probably needs to do a lot more things better, no doubt. We also have that spirit and it is shared by all the ministers here and me personally,” he acknowledged.

“To be a businessman or a small or medium businessman, it is not necessary to be a hero or a hero. These are the ideas, the effort, the commitment, and also the talent,” he said.

“Spain is the locomotive for EU growth and employment”

Regarding economic developments, the President of the Government has pointed out that Spain, despite the complex international situation, is “the locomotive of growth and job creation for the European Union“In this decade we have avoided shocks that could have been devastating for the economy and for our companies,” he said.

Therefore, against those “who talk about rhetoric to hide the lack of confidence in this country”, Sánchez has been convinced that Spain is in a position, for the first time in its history, to two major changes to lead this. time, who are the digitization and the ecological transition.

“It is, therefore, about looking at ourselves as we are. And we are a great country, we are the best country in the world to live in and to start a business, full of talent, creativityand which was lost, at least, in these 45 years of democratic history, of many fears and complexities that prevented us from moving forward for several decades,” he said.

The president has emphasized that, when he talks to other political leaders, they look at Spain today as an example “of respect, transformation and resilience in the face of impacts of magnitude devastating, if it had not been successful in economic planning and social policies, such as ERTE, ICO guarantees or the promotion of European funds ‘Next Generation EU’.

Hereu highlights the impact of the Recovery Plan on SMEs

At the opening of the event, the Minister of Industry and Tourism also spoke, Jordi Seowhich has highlighted the impact of the Recovery Plan on the economy and the transformation of SMEs.

“In our Ministry, SMEs are present in everything we do,” said Hereu, after recalling initiatives such as the launch of the Observatory against private crime or the development of various strategic projects for economic recovery and transformation (Perte).

Therefore, the minister wanted to thank SMEs “for everything they do for this country and he has been sure that the Government is willing to continue walking together to make this economy strengthen “as relevant in Spain”.