Smes and self-employed persons account for 98% of the operations managed by the ICO News

Calviño states that it will use all the digital tools against the Covid-19Las companies fight for that FATE not to be an expense in vain for the EstadoLa bill on pension and ERTE, will exceed the 25,000 million euros in June

The Institute of Official Credit (ICO) has recorded up to this Wednesday 371.070 operations and has mobilized a flow of credit of 47.751 million euros. The sectors that have requested more guarantees have been the tourism, leisure and culturda.

The vice president of Economic and Digital Transformation, Nadia Calviño , has updated this Thursday the loans granted by the ICO endorsed by the State to help overcome the lull of activity of smes and self-employed persons in consequence of the COVID-19.

Until Wednesday, the ICO has managed 371.070 operations; with guarantees in the amount of 36.291 million euros, which supposes to mobilize near 47.751 million euros. Of these figures, the segment of smes and freelancers, has received 364.213 operations, 98% of the total , with endorsements by 25.277 million euros and funding channelled by 31.659 million euros.

Calviño has advanced that 95% of these transactions are new credit and Catalonia, Andalusia and Madrid are the autonomous communities with the highest percentage of credits have been concentrated. In addition, the sectors of tourism, leisure and culture have represented the greatest weight, both in the number of operations as well as projects supported, followed by the sectors of the construction, retail and wholesale trade and administrative services , among others.

Calviño has valued economic measures validated by the Congress to regain the productive fabric, help the families and most vulnerable groups and has been praised by the extension agreed to the temporary layoff of employment (ERTE) as an instrument of “success” that has slowed the further destruction of employment.

“What is certain is that the adjustment of employment, both in terms of the fall in employment and increase in unemployment, is much lower than crisis of 2008 and 2009 despite the contraction of GDP is much more pronounced and this is thanks to the easing measures and employment support that have been adopted,” he said.

Calviño has warned that all of these measures will have a budgetary impact important but has reaffirmed the need “to do now, this fiscal effort”, which -in his opinion – sharing investors, which in turn rely on Spain as it is shown “remarkable results” of the latest auctions of Treasury where a high percentage of broadcasts have gone to investors, not residents.

The vice-president of economic has asked to address as soon as possible the recovery of the economy and has said that the great covenant of rebuilding the social and economic fragmentation in the Congress should look at the priorities that the Government had to this legislature, as the demographic challenge, the ecological transition or scanning.

“we’re Not going to leave, rather to the contrary . We have to tackle the remaining challenges and put the country on the right course for the coming decades,” he said.

Updated Date: 15 May 2020, 02:43

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