The “ICF Eurocrèdit Covid-19” line helps mitigate the effects of the pandemic on Catalonia’s economy

On May 27th an online workshop “Do you have settlement needs due to Covid-19 crisis?” was organised on Zoom -as part of the Together for Cohesion: let’s rEUnite! Campaign- by the General Direction of Economic Promotion, Competition and Regulation of Catalonia with the support of the Catalan Institute of Finance and PIMEC foundation, with the aim of making EU funds for SMEs known among the Catalonian population.

During the webinar, the “ICF Eurocredit Covid-19 line” –100% financed with FEDER funds -was unveiled. This credit line is endowed with 70€ million to provide liquidity to SMEs affected by COVID-19. The objective of this credit line is twofold: on one hand, aims to mitigate the negative effects of the pandemic on companies and, on the other, to preserve the continuity of economic activity during and after Covid-19.

The beneficiaries are micro, small and medium-sized companies between 5 and 250 workers with a turnover of less than 50 million euros or a balance of a maximum of 43 million euros that have been affected by the Covid-19.

Regarding the amount of the loans, it will range between 250,000 euros and 2 million euros. Companies may request credits for a maximum of 5 years, and with up to 1 year grace period included.

The webinar was attended by:

  • Lluís Juncà general director of Economic Promotion, Competition and Regulation
  • Albert Castellanos, general secretary of the department of the Vice Presidency of Economy and Finance
  • Josep-Ramon Sanromà, CEO at the Catalan Institute of Finance (ICF).
  • Pere Cots, director of the Strategic Consulting and Financing Department of PIMEC.
  • Anna Àlvarez, General Manager of Credit Investments at the ICF.

The seminar was closed by Pere Aragonés, Vice President of the Government and Minister of Economy and Finance.