The Government gives the green light to a new ICO Line of underwriting 40.0000 million for the self-employed and smes

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The third vice-chairman and minister of Economic Affairs, is Nadia Calviño , has announced during the press conference after the Council of Ministers has given the green light to a first tranche of 8,000 million euros of the new line of endorsements ICO-oriented to promote the investment of self-employed, smes and companies. This new tool will be a total allocation of 40,000 million euros.

Within the first stretch approved 8,000 million , some 5,000 million, will be directed to securing new investment on the part of the self-employed and smes, while another 3,000 million will be targeted to ensure operations on the part of the rest of the companies.

To questions of journalists, Calviño has clarified that the endorsement public keep the warranty on 80% of the operations requested by the self-employed and smes , as well as about 70% of the loans ask the other types of companies. Similarly, the coverage of these guarantees will be extended up to a maximum of 8 years to adapt to the increased amortization period of the investments.

A line of collateral that is different from the one passed to 100.000 million , which is enabled after the decree of the alarm state and that seeks to promote new investment of self-employed and companies to contribute to the maintenance of its activity.

Recovery in the “V asymmetrical”

on the other hand, Calviño has underpinned the idea that the recovery will be “V-shaped asymmetric”, to submit a report of your department on the evolution of the economic situation, which concludes that there will be “a robust growth” during 2021 , and that the outbreaks will last for “some time”. In addition to finding a reacuperación gradual activity. In this sense, it has been argued that the measures for the recovery “began with the first economic package on the 10th of march,” and pointed out that we will know in the next few weeks statistics “consistent” with the economic developments.

Calviño has stressed that the measures put in place by the Executive to represent a 20% of GDP and have avoided “a escenarrio disruptive” with a fall record 25% . In this line, has announced the approval of a Plan of Resilience for promoting the modernisation of the Spanish economy.

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