Post by account_disabled on Jan 16, 2024 23:06:04 GMT -5
The new line of guarantees from the Official Credit Institute ( ICO ), endowed with 40,000 million euros, will be available next week, as announced by Nadia Calviño , third vice president for Economic Affairs. During his speech at the closing of the Extraordinary Plenary Session of the Chamber of Spain , Calviño valued the ICO guarantee program, endowed with 100,000 million euros, which has been "the most used" of those implemented by the surrounding countries.
And this has been possible "thanks to the excellent relationship with the financial system, which has been part of the solution and with which we have worked in a tremendously agile way" , while recalling the digitalization carried out of the Whatsapp Number List mobilization processes of resources by the ICO. "Practically 100,000 million euros in credits have been mobilized ," while more than 70,000 million have been executed in guarantees. said the minister, who pointed out, however, that "the rate of absorption of credits has been slowing down . " This is "good news" because it shows that " companies are already earning income and no longer need to resort to financing to cover working capital ," he said.
Now we have to focus on supporting investment and, therefore, next week the new line of 40,000 million will be operational, which will complement the 100,000 million and which will also be allocated to investment and to launch the transformation process in digitalization and ecological transition. » , he indicated. Calviño recalled that the measures implemented, such as ERTE, have generated a budgetary impact of 5% of GDP, and those intended to provide liquidity, such as ICO guarantees, are equivalent to 15% of GDP.
And this has been possible "thanks to the excellent relationship with the financial system, which has been part of the solution and with which we have worked in a tremendously agile way" , while recalling the digitalization carried out of the Whatsapp Number List mobilization processes of resources by the ICO. "Practically 100,000 million euros in credits have been mobilized ," while more than 70,000 million have been executed in guarantees. said the minister, who pointed out, however, that "the rate of absorption of credits has been slowing down . " This is "good news" because it shows that " companies are already earning income and no longer need to resort to financing to cover working capital ," he said.
Now we have to focus on supporting investment and, therefore, next week the new line of 40,000 million will be operational, which will complement the 100,000 million and which will also be allocated to investment and to launch the transformation process in digitalization and ecological transition. » , he indicated. Calviño recalled that the measures implemented, such as ERTE, have generated a budgetary impact of 5% of GDP, and those intended to provide liquidity, such as ICO guarantees, are equivalent to 15% of GDP.