Two new funds of 2,400 million managed by Cofides are created to generate sustainable investments
MADRID, 9 Jun. (EUROPA PRESS) -
The Ministry of Industry, Trade and Tourism will mobilize a total of 8,703 million euros from the addendum to the Recovery, Transformation and Resilience Plan approved by the Council of Ministers, which in total will mean an added injection into the Spanish economy of almost 90,000 million euros (84,000 million in loans, 7,700 million in non-reimbursable transfers and 2,644 million from the REpowerEU plan).
The addendum, which includes additional investments and reforms aimed at promoting strategic autonomy, the agri-food, industrial, technological and digital sectors, will serve to reinforce the Strategic Projects for Economic Recovery and Transformation (PERTE) managed by this ministry, help the tourism sector and create two new investment funds.
For the Minister of Industry, Commerce and Tourism, Héctor Gómez, the approval of the addendum means "taking a giant leap in the transformation of Spanish industry and in the modernization of our productive fabric".
Specifically, and in the case of the industrial sector, the PERTE for Electric and Connected Vehicles will be reinforced with an additional 1,250 million euros (1,000 million in loans and 250 million in transfers), the PERTE for decarbonization will see its amount increased by 2,720 additional million (1,700 million in the form of loans and 1,020 in direct transfers), the Agrifood PERTE will add 200 million in loans and the microelectronics and semiconductors PERTE another 200 million extra in transfers.
The addendum includes the creation of two new funds, called FOCO (Coinvestment Fund), of 2,000 million, and FIS (Social Impact Funds), 400 million, both managed by Cofides, to co-invest in Spanish companies with funds, sovereign institutions and institutional investors and also seek investments with a quantifiable and measurable social and environmental impact.
In addition, the addendum that expands the Recovery Plan with the Next Generation EU Funds will serve to reinforce investments in two public companies dependent on the ministry.
On the one hand, the Spanish Reguarantee Company (CERSA) will receive an additional 630 million euros to boost its support program for industrial entrepreneurship; and on the other, the National Innovation Company (ENISA) will receive another 283 million to finance its programs to help Spanish SMEs and startups.
Additionally, through the addendum, tourism will also benefit and receive an extra fund of 1,000 million euros, channeled through the Official Credit Institute (ICO).
This new injection is intended to reinforce aid to contribute to the modernization, sustainability and green and digital transition of the sector, according to the ministry.